Hyperdrive
Renault Beats Revenue Estimates as Electric-Car Sales Surge
- French automaker sees positive free cash flow in second half
- Manufacturer draws 3 billion euros from state-backed loan
Renault SA sold 6% fewer passenger cars and trucks overall during the period, while sales of the Zoe battery-powered model rose 150%.
Photographer: Rolf Schulten/BloombergThis article is for subscribers only.
Renault SA reported third-quarter revenue that beat estimates, partly fueled by a surge in sales of its popular electric model that the carmaker said will allow it to meet European emissions rules.
Although revenue fell 8.2% to 10.37 billion euros ($12.2 billion) in a period still marked by the pandemic, it surpassed the 9.96 billion-euro average of estimates compiled by Bloomberg. The French manufacturer sold fewer passenger cars and trucks in the quarter, but sales of the battery-powered Zoe more than doubled, Renault said Friday.