Renault group Q1 2015 sales up, India reports 11.4 pct decline
In a global automotive market that went up 1.7 pct, Renault group sales were reported at 641,588 vehicles for Q1 2015. Worldwide market share at stands at 3 pct. Clio, Captur and Twingo sales accounted for 9.9 pct sales growth in Europe. Low Russian and Brazilian markets contributed to 11.3 pct drop in international sales. Group revenue is posted at €9,388 million at YoY increase of 13.7 pct.
As a result of a stronger quarter than expected, the Renault group revised its 2015 outlook for the European automotive market and now forecasts a full-year growth of 5%.
The Group confirms its objectives for the year.
Dacia sales were up 4.3 pct on the back of Duster and Dokker in Europe but down 12.6 pct in France owing to high 2014 Q1 basis of comparison as a result of new Duster launch during 2013 end.
Outside Europe, emerging markets reported sales decrease from 43 pct of total sales in Q1 2014 to 38 pct in Q1 2015. In Africa, Middle East, India Region, Maghreb area sales were strong, up 12.6 pct in a market that dropped 6.2 pct. Logan leads car sales in Algeria and Morocco.
In India, the passenger car market grew by 4.5 pct, while Renault reported 11.4 pct sales decline for Q1 2015. Renault Lodgy was launched in India in April 2015 at a starting price of Rs 8.19 lakhs. An A entry level vehicle is scheduled for launch later this year.
Weakness of Euro versus currencies (Korean Won, Indian Rupee, British Pound, Argentinean Peso, etc) had a favourable impact of 1.3 points. Global car demand is expected to grow 2 pct in 2015. Europe performed better than expected during Q1 2015, and should increase by 5 pct over 2 pct initially forecast through the year. Brazil and Russia sales would be lower than expected.
Through 2015, Renault group looks to increase sales and revenues (at constant exchange rates), improve Group Automotive division operating margin, and generate positive operational free cash flow.