Volkswagen:Quarterly Results/2024 Q1: Difference between revisions

Volkswagen:Quarterly Results/2024 Q1 (view source)

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+== Competitor Results and Expectations ==
+=== Renault ===
+* Renault's Q1 2024<ref>https://www.investing.com/news/stock-market-news/renault-posts-revenue-beat-in-q1-confirms-fullyear-outlook-432SI-3390155</ref> revenue rose by 1.8% y/y to 11.7 billion euros, exceeding analysts estimate of 11.4 billion euros.
+* Automotive revenue fell by 0.7% y/y to 10.47 billion euros impacted by unfavorable exchange rates in markets like Turkey and Argentina and higher destocking by independent dealers.
+* Renault's financial unit revenue grew by 27.9% y/y to 1.25 billion euros, aided by rising interest rates and a rise in average-performing assets.
+* Renault confirmed its operating margin outlook of 7.5% for 2024.
+* “Q1 revenue continues to illustrate the strict application of our commercial policy focused on value,” said Thierry Piéton, CFO of the Renault Group. “The strong orderbook at the end of March and our upcoming launches will provide sequential acceleration in the activity. Coupled with an increase in cost reduction, they will drive our financial performance,” he added.
+* Renault said pricing effect contributed a 4.1 points increase in revenue while devaluation of currency led to a -4.3 points decrease in revenue<ref>https://media.renaultgroup.com/2024-q1-group-revenue/</ref>.
 == References ==