Renault’s half-year results for 2013 have shown finance contributed €372m (£321m) to Renault Group’s global operating margin, down €20m compared to the same period in 2012.

The result came despite revenues from sales financing, provided by worldwide captive partner RCI Banque, rising 1.9% year-on-year during Q1 2013. Renault attributed the H1 fall to an unfavourable currency effect in Brazil and a slight rise in distribution costs.

Overall Group revenues for the period fell 0.9% to €20.44bn, as the ongoing weakness of European sales continued to damage registrations, with Renault highlighting the French market as "challenging."

Renault said it was on track to achieve its full-year guidance of higher Group registrations worldwide, positive automotive operating margin and positive automotive operational free cash flow.

In June, Renault announced it was ending pricing-based deals in the UK to focus on added value deals and appointed Len Curran as director for European Operations in July.

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