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.
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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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