• Renault Group worldwide sales amounted to 549,099 vehicles in the first quarter, up 2.6% versus 2023 Q1. In Europe[1], Group sales were up 4.3%.
• Group revenue at €11,707 million, +1.8% and +5.9% at constant exchange rate¹ versus 2023 Q1.
• Automotive revenue at €10,446 million, -0.7% and +3.6% at constant exchange rate¹ versus 2023 Q1.
• Strong orderbook in Europe at 2.5 months of forward sales reflecting the success of products and a very good start of the year in terms of order intake even though the key product launches are scheduled throughout the rest of the year.
• Renault Group continues its commercial policy focused on value with a focus on retail channel (66% of sales[2]), on the C‑segment & above (37% of sales[3]), on high trim versions which represented a large majority of last launches and on electrification with hybrid and EV offers (48% of sales⁴).
• Renault Group confirms its 2024 financial outlook:

·          

• Group operating margin ≥7.5%
• Free cash flow ≥€2.5bn

“Q1 revenue continues to illustrate the strict application of our commercial policy focused on value. The strong orderbook at the end of March and our upcoming launches will provide sequential acceleration in the activity. Coupled with an increase in cost reduction, they will drive our financial performance.

Renault Group has already opened a new chapter with sound fundamentals: performance improvement and efficient capital allocation on the one hand and flexibility on the other. Our launches, both with electric and ICE & hybrid vehicles, demonstrate our flexibility to adapt to the ups and downs of the energy transition.

Day after day, our organization is gaining in agility and speed of execution which are clear strengths in the current environment.”  said Thierry Piéton, Chief Financial Officer of Renault Group.