Renault Q3 sales slashed by chips shortage

Renault Group offered 599,027 automobiles in the 3rd quarter of 2021, a decrease of 22.three% compared to the exact quarter of 2020, as the chips scarcity took its toll.

Renault estimates its creation reduction thanks to the lack of elements for the 3rd quarter at all around one hundred seventy,000 units. In spite of minimized visibility for the fourth quarter, the group anticipates a reduction near to 500,000 automobiles for the year (a lot more than double what it forecast previous thirty day period).

Group revenues for the 3rd quarter amounted to €9 billion, down thirteen.four%.

On a good note, Renault said its E-TECH line up of electrified automobiles accounted for 31.three% of Renault brand’s passenger auto product sales in Europe in the quarter.

The organization also said the renewal of the Dacia line up is a results, pushed by New Sandero and New Duster. In the 3rd quarter, Sandero was the ideal-marketing auto in Europe, Renault said.

The organization also said that the group’s order portfolio in Europe at the end of September 2021 stands at a file high for 15 decades and signifies 2.8 months of product sales.

In spite of the boost in believed creation losses for the year, Renault Group confirmed its steerage to reach a entire year group running margin charge of the exact order as the one particular of the first fifty percent. The group is also targeting to obtain a good Automotive operational cost-free money flow, excluding change in operating capital needs, for the fiscal year.

Renault Group also confirmed that it is on monitor to meet up with its 2021 CAFÉ (EU) goal.

“The actions taken to further decreased expenses and maximize the price of our creation let us to verify our steerage for the year inspite of the deterioration in elements availability in the 3rd quarter and minimized visibility for the fourth quarter,” said Clotilde Delbos, Chief Monetary Officer of Renault Group.