RNSDF - Price hikes help Renault push to strong revenue growth

Renault SA ( OTCPK:RNSDF ) said that pricing moves helped the automaker maintain strong margins and revenue in the third quarter.

For the quarter, the French auto group posted an over 20% jump in revenue from the prior year to €9.78B. The growth in revenue came despite a 2.4% drop in total vehicles sold.

“The growth of the activity in the 3rd quarter continues to reflect our commercial policy focused on value, set up for 2 years now: improvement of the pricing policy, optimization of commercial discounts and priority to the most profitable channels,” CFO Thierry Piéton said.

For the full year 2022, Piéton said that group operating margin is expected to exceed 5% on continued pricing improvements. He added that a Capital Markets Day on November 8 should provide more detail on the path ahead.

Elsewhere, the French Agence des participations de l'État said on Friday that it will continue to support Renault and Nissan ( OTCPK:NSANY ) as their partnership continues to pursue EV production. According to Reuters , the head of the agency also told journalists that the French government “will support any initiative that boosts Renault's alliance with Nissan.”

Read more on the Franco-Japanese alliance’s negotiations .

For further details see: