Renault Group worldwide automotive revenues
for the first quarter of 2012 were down, year-on-year, while
revenue from sales financing has risen.
Overall Group revenues for the quarter came to
€9.54bn (£7.8bn), down 8.6% on the same period last year, while
finance revenue from partner RCI Banque contributed €522m to the
group, up 12% on Q1 2011.
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The total value of average outstanding loans
was up 9.2% to €24bn, the number of new finance contracts fell by
5.8% to 238,500 for the quarter.
RCI Banque also issued three bonds from
January to March this year with a total value of €1.2bn and total
securities for Renault’s finance partner now amount to €6.4bn.
Renault sold 634,498 units in the first
quarter of 2012, down 7.9% worldwide and including a 20% fall in
sales in Europe.
The news follows the
announcement at the end of 2011 that Renault UK would cut the
number of its dealerships from 190 to 135, discontinue the sale of
certain models and forecast an overall drop in sales by a
third.
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By GlobalDatarichard.brown@vrlfinancialnews.com
