Skip to content
Subscriber Only
Business
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%.

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/Bloomberg
Updated on
From

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.