Solid start to 2023 with 30% increase in revenue in the first quarter
April 24, 2023 by Renault- • Renault Group worldwide sales amounted to 535,000 vehicles in the first quarter, up 14.1% versus 2022 Q1. In Europe, Group sales were up 27.3% in a market up 16.2%
- • Renault Austral already recorded 15,500 sales in 2023 Q1 with 67% of hybrid mix and 61% of high trim versions. Orders since launch reached 40,000 units
• Renault Megane E-TECH Electric records more than 11,000 sales in 2023 Q1, with more than 70% on high trim versions and above 80% on the most powerful engine (60kWh/220 hp). Orders since launch amounted to more than 54,000 units
• Renault Arkana recorded more than 18,500 sales in 2023 Q1 of which 60% in E-TECH version
• Group revenue at €11.5 billion, +29.9%1 vs 2022 Q1
• Automotive revenue at €10.5 billion, +29.7%1 vs 2022 Q1
• Continued price effect of 9.4 points over the quarter and increased product mix impact at 5.2 points driven by the commercial policy focused on value and the success of new products:
- • 68% of Group sales on the retail channel in the Group's five main countries in Europe2
• Marked improvement in Renault brand C-segment sales in Europe: up more than 51% vs 2022 Q1 thanks to the success of Megane E-TECH Electric, Arkana and Austral
• Dacia recorded sales up 41% to nearly 150,000 units in Europe in Q1 thanks to the successful renewal of its range. Dacia Sandero remains the best-seller to retail customer in Europe
• Renault Group pursues its electrification offensive:
- • Renault brand maintains its leading position in Europe in the first quarter with a 24% volume increase in electrified3 passenger car sales versus 2022 Q1, accounting for 38% of the brand's passenger car sales in Europe
• The first hybrid version in the Dacia range was launched in January 2023 on Jogger. Dacia Jogger Hybrid 140 already represents around 25% of the order mix. Jogger is a key product to attract new customer profiles and its hybrid version supports Dacia smooth electrification strategy
• Dacia Spring (100% electric) records close to 110,000 orders in Europe since launch. It was again on the podium of retail electric vehicles in Europe in Q1
• Strong Group's orderbook in Europe remains at record levels in absolute value and is at 3.3 months of sales at the end of Q1. It would remain above the target of 2 months through 2023, even with a market 30% below 2019.
• Renault Group confirms its 2023 financial outlook
- • It maintains its leading position in the electrified5 market with a 24% increase in sales.
• In the C-segment, Renault recorded growth of more than 51% thanks to the success of its new models: Arkana, Megane E-TECH Electric and Austral.
• More than one out of two sales in our five main countries in Europe3 in the retail channel.
- • In 2023 Q1, in Europe, Dacia Sandero ranked first in retail sales and Dacia Duster remains on the podium of SUVs sold to retail customers.
• Dacia Spring continued its momentum and recorded 14,500 units sold this quarter. It was again on the podium of retail electric vehicles in Europe.
• The brand continues to expand its electrified product offering with Jogger Hybrid 140, the first hybrid in the range and the most affordable hybrid family car on the market.
- • A strong volume effect of +18.6 points, essentially due to the increase in production compared to 2022 Q1, thanks to the commercial success of new vehicles coupled with an improved availability of EC components. This volume effect is higher than the growth in registrations due to a lower destocking of the independent dealer network in 2023 Q1 compared to 2022 Q1, when EC crisis was at peak.
• A robust price effect of +9.4 points, reflecting the continuation of the commercial policy focused on value, price increases to offset cost and currency inflation, and an optimization of commercial discounts.
• An increasing product mix effect of +5.2 points mainly resulting from Megane E-TECH Electric and Austral which average revenue per unit is largely higher than Renault Group's average.
• A geographic mix of +2.7 points benefiting from the strong performance of European sales.
• A positive impact of sales to partners of +0.9 points, mainly supported by a dynamic LCV market driving sales to Nissan, Renault Trucks and Mercedes-Benz as well as from the start of production of the ASX for Mitsubishi Motors.
- • A forex impact of -2.6 points, mainly related to the Argentinian Peso.
• An 'Other' effect of -4.5 points, related to a decrease in the contribution of sales from the Renault Retail Group network following the disposals of branches, partially offset by the performance in the aftersales activity.
- • The Group is still facing logistics issues explaining the growth of Group inventories at 273,000 vehicles.
• The independent dealer inventories stood at 307,000 units in line with the orderbook which remains at record levels in absolute value.
- • a Group operating margin superior or equal to 6%
• an Automotive operational free cash flow superior or equal to €2 billion.
(in million euros) | 2022 1 | 2023 | Change 2023/2022 |
1st quarter | |||
Automotive | 8,109 | 10,515 | +29.7% |
Mobility Services | 8 | 9 | +12.5% |
Sales Financing | 737 | 974 | +32.2% |
Total | 8,854 | 11,498 | +29.9% |
Year to date March 2023 | Volumes 1 | PC + LCV | |
(in units) | market share | ||
(in %) | |||
1 | FRANCE | 127,052 | 24.9 |
2 | ITALY | 49,689 | 10.5 |
3 | GERMANY | 33,669 | 4.6 |
4 | TURKEY | 32,074 | 13.6 |
5 | SPAIN | 29,709 | 10.9 |
6 | BRAZIL | 26,298 | 6.0 |
7 | UNITED KINGDOM | 23,906 | 4.1 |
8 | ROMANIA | 18,081 | 43.9 |
9 | BELGIUM+LUXEMBOURG | 17,145 | 10.5 |
10 | INDIA | 15,013 | 1.3 |
11 | MOROCCO | 14,040 | 38.1 |
12 | POLAND | 12,961 | 9.3 |
13 | ARGENTINA | 11,661 | 10.2 |
14 | NETHERLANDS | 10,598 | 9.0 |
15 | MEXICO | 9,415 | 3.0 |
First quarter | First quarter | ||
2022 1 | 2023 | Change % | |
RENAULT | |||
PC | 256,840 | 266,867 | +3.9 |
LCV | 69,660 | 87,678 | +25.9 |
PC+LCV | 326,500 | 354,545 | +8.6 |
RENAULT KOREA MOTORS | |||
PC | 12,032 | 6,908 | -42.6 |
DACIA | |||
PC | 126,462 | 170,496 | +34.8 |
LCV | 1,497 | 1,293 | -13.6 |
PC+LCV | 127,959 | 171,789 | +34.3 |
ALPINE | |||
PC | 710 | 562 | -20.8 |
OTHERS2 | |||
PC | 1,737 | 1,208 | -30.5 |
LCV | 33 | - | |
PC+LCV | 1,770 | 1,208 | -31.8 |
RENAULT GROUP | |||
PC | 397,781 | 446,041 | +12.1 |
LCV | 71,190 | 88,971 | +25.0 |
PC+LCV | 468,971 | 535,012 | +14.1 |
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