Renault announced on Friday that its sales rose to 9.8 billion euros ($9.57 billion) in the third quarter, in line with analyst expectations. The price increases allowed the company to achieve revenue growth despite lower vehicle sales than the previous year.
The French automaker said overall revenue rose 20.5 percent when adjusted after the disposal of its former Russian unit AvtoVAZ, adding that it saw the best price effect ever, with quarterly car sales down 2.4 percent from last year.
Third quarter sales of 9.8 billion euros were in line with analyst consensus.
Renault faces major challenges in the fourth quarter, as it is finalizing plans to split the heat engine and electric vehicle business into two separate units amid tense talks aimed at reshaping its strategic partnership with Nissan.
Renault is the largest shareholder in Nissan; It owns 43%, while the Japanese automaker owns 15% in its company.
The two companies announced last week that they are in talks about a new phase in their partnership that could include Nissan’s investment in Renault’s new electric car project.
The French company, which is due to present to investors on November 8, kept its full-year forecast including a target for an operating profit margin of more than 5%, compared to 3.6% in 2021, along with operating free cash flow from cars worth more than 1.5 billion euros.
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