New Renault models drive carmaker's shares in tough European market for sales

However, the carmaker pushed out the likely timing for a listing of its electric vehicle arm following investor feedback

The Renault Austral has helped the carmaker's shares rise.

Renault shares jumped more than 7% after it raised its 2023 financial outlook thanks to the success of new models, in particular the Austral SUV and a Dacia Jogger hybrid.

After several years of restructuring and strategic repositioning to restore margins, the French carmaker said it is now aiming for an operating margin of 7% to 8% by full-year 2023, from a previous target of more than 6%.