Annual Renault results down 3.4%

Groupe Renault has reported sales of 3.8 million units last year, down 3.4% on the previous year.

Revenues were down 3.3% to just over €55m, with an operating margin of €2,662m.

Clotilde Delbos, acting chief executive officer of Renault, said: “Groupe Renault, despite a troubled year, has been able to achieve results in line with the revised guidance. I want to thank all employees for their efforts and commitment that allowed to achieve this result.

“Visibility for 2020 remains limited due to expected volatility in demand, notably in Europe because of the CAFE regulation and the possible impacts of the Corona virus. Nevertheless, the strengthening of the top management team, the Alliance revival and new models’ success make me deeply confident in our ability to lead the Group’s turnaround.”