Renault Bucks Europe's Auto Slump on New Model Demand [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
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Source: Yahoo! Finance
(Bloomberg) -- Renault SA confirmed its full-year guidance as the French automaker expects to benefit from new models including the R5 electric car and updated Dacia sport utility vehicles. Most Read from Bloomberg Third-quarter revenue rose to €10.7 billion ($11.6 billion), Renault said Thursday. The manufacturer still expects a group operating margin of at least 7.5% this year, and free cash flow of €2.5 billion or more. “Our order book continues to be solid,” Chief Financial Officer Thierry Pieton said on a call with reporters. “We are expecting a fourth quarter with strong growth.” Renault is an outlier after peers including Stellantis, Volkswagen and BMW issued profit warnings in recent weeks, citing reasons including slower demand for electric vehicles, supplier issues and a slump in China sales. Renault Chief Executive Officer Luca de Meo has introduced several new EVs on time in recent months, managing to avoid some of the issues around software that have delayed riva
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