Renault’s global sales drive helped by new Iran push

French carmaker Renault posted record vehicle sales around the world for the first half as a sustained product offensive lifted deliveries by 10.4% — with a well-timed China SUV launch and a renewed push into Iran both contributing.

Sales advanced to 1.88m light vehicles in January to June, Renault said, at four times the rate of the global auto market’s 2.6%.

Renault, based in the Paris suburb of Boulogne-Billancourt, is reaping the rewards of a comprehensive overhaul of its lineup under chief designer Laurens van den Acker, who joined the company eight years ago. Sales have also benefited from a surge in European demand for the group’s no-frills Dacia brand and more recently from the success of its Captur mini-SUV.

“Our strategy of range renewal and geographical expansion continues to produce results,” sales chief Thierry Koskas said. Renault shares were up over 1% in Paris trade, valuing the car maker at €25.1bn.

The group’s upbeat sales numbers contrasted with a weaker first-half showing from domestic rival PSA Group, the maker of Peugeot, Citroen and DS cars.

In Europe, which still accounts for more than half of its sales, Renault posted 5.6% growth in deliveries, outpacing the market thanks to Dacia’s 9.3% surge following a revamp of its Sandero budget subcompact.

Sales in the reopening Iranian market more than doubled to 68,365 vehicles, while new models for the Lada brand helped deliver a 14% sales gain for the group in a Russian market that returned to 6.9% growth in the first half.

Reuters



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