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Renault in free fall after disappointing sales data

Renault in free fall after disappointing sales data

French carmaker Renault reported a 34.9% drop in worldwide vehicle sales in H1, due to COVID-19 impact. However, the company saw some signs of recovery in June

Stocks impacted: Renault (RNSDF)

With the Covid-19 pandemic context, Groupe Renault suspended sales and industrial activities in most countries from mid-March and saw its sales fall 34.9% to 1,256,658 units in the first half, in a market down 28.3%. The Group’s sales volume decline was mainly due to its high exposure to countries that have undergone a strict lockdown.

However, the sales volumes of the ZOE, electric car brand, worldwide rose by 38%, with more than 42,000 vehicles sold in the first half. In Europe, ZOE is the best-selling car with a sales growth close to 50% to 37,540 units and reached a record level of orders in June with nearly 11,000 orders.

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