Renault First-Quarter Revenue Falls 12% on European Drop
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Renault SA, France’s second-biggest carmaker, said first-quarter revenue fell 12 percent as an intensifying car-market contraction in Europe that’s now in its sixth year overwhelmed delivery growth outside the region.
Sales dropped to 8.27 billion euros ($10.7 billion) from a restated 9.37 billion euros a year earlier, the Boulogne-Billancourt, France-based company said yesterday in a statement. Revenue was less than the 8.57 billion-euro average of 11 analyst estimates compiled by Bloomberg.