The Renault Group announced on Thursday that its revenue for the third quarter of fiscal 2023 rose by 7.6% to €10.5 billion, while the cumulative figure for the nine months to September totaled €37.4 billion, an increase of 21.1% compared with a similar period last year.
According to the report, the group's global sales reached 511,000 vehicles in the third quarter of 2023, 6.1% more than in the third quarter of 2022. Meanwhile, in Europe, sales increased by 15.3%. The car manufacturer confirmed its guidance for 2023, with an operating margin of between 7% and 8% and a free cash flow of €2.5 billion or more.
"We have entered the last quarter with confidence and confirm the improvement of our profitability in the second half of the year and beyond, driven by our product offensive, along with the benefits of our cost reduction program and our disciplined commercial policy focused on value," Thierry Piéton, Chief Financial Officer of Renault Group said.
