A Renault Scenic electric vehicle (EV) at the Munich Motor Show (IAA) in Munich, Germany, on Tuesday, Sept. 5, 2023.
French car maker Renault said on Tuesday its first-quarter revenue grew 1.8%, with good performance in its financing business offsetting a drop in turnover in core automotive sales.
The group sold 549,099 units over the period, with revenue reaching 11.7 billion euros ($12.47 billion).
Leading EV maker Tesla is cutting prices in several key markets, piling more pressure on European firms.
Revenues from financing activity grew 27.9% to 1.25 billion euros, helped by higher interest rates.
Persons:
Twingo, Tesla
Organizations:
Renault, Tesla
Locations:
Munich, Germany, China