Renault Quarterly Sales Miss Estimates on Currency Shifts
This article is for subscribers only.
Renault SA, France’s second-biggest carmaker, reported third-quarter revenue that missed analyst predictions as currency drops in South America and Russia more than offset global delivery gains and higher pricing in Europe.
Sales fell 3.2 percent to 8 billion euros ($11 billion) from a restated 8.26 billion euros a year earlier, the Boulogne-Billancourt, France-based company said yesterday in a statement. Revenue was less than the 8.5 billion-euro average of six analyst estimates compiled by Bloomberg. Nine-month revenue declined 1.5 percent to 28.4 billion euros.