Global sales financing fell 15.65%
year-on-year for Renault Group in the first half 2012, one of
several headline indicators to show decline in the group’s most
recent results.
Car finance contributed €345m (£270m) to the
Group’s operating margin, down from €409m in H1 2011, as the cost
of risk rose to 0.44% of average loans outstanding (from 0.14%,
same period 2011), still shy of the average historic level of
0.60%.
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Group sales were down 3.3% year-on-year to
1.33 million units worldwide; group revenues were down 0.8% to
€20,395m; operating income was down 32.77% to €519m; and net income
was down 37.27% to €786m.
Renault had expected 2012 to be a tough year,
including a UK network restructure, but the half-year results
contrast with those of the first quarter, which saw
sales financing up 12% year-on-year despite a drop in
sales.
Halfway there
In the UK, Renault sales have dipped 46.83%
year-on-year to 19,575 registrations from January to the end of
June.
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By GlobalDataNonetheless, Steve Gowler, managing director
of RCI FS, the UK operation of RCI Banque, captive finance partner
to the Renault Group, predicted
55,000 Renault sales in the UK this year last month.
Talking to Motor Finance, Gowler also
said both
RCI Banque and RCI FS had been performing well throughout 2012,
especially on Nissan and used car finance, and expected the new
Clio model and Zoe electric vehicles to reverse the Renault
decline.
richard.brown@vrlfinancialnews.com
