Renault records global sales gain after years of decline

Published Jan 18, 2024


Following four years of decline, Renault reported a rise in global sales in 2023 as it clawed back market share in a buoyant European market.

The French group said it had sold some 2.2 million vehicles in 2023 - an increase of nine percent on the previous year.

It put the increase down to growth in its three core brands - Renault, Dacia and Alpine - and said sales were particularly strong in Europe, where it posted growth of 19 percent.

The Alpine brand led the sales growth with 22 percent, Dacia with 14.7 percent and Renault with 9.4 percent.

The strong sales figures put Renault in second place in Europe in terms of market share - up from fifth position in 2022.

The carmaker said it plans to launch 10 new models through 2024. These include the all-new Renault 5 E-Tech, which is set to debut at the Geneva Motor Show in March as a battery-powered compact hatch with a relatively affordable price tag.

Hoping to cash in on its heritage with retro-inspired cars, the carmaker is also planning new versions of the Renault 4 as well as the Twingo, although the latter will only arrive around 2026.

Rebalanced alliance

In December, Renault said it was selling to Nissan part of the stake it owns in the Japanese automaker as the two companies rebalance their alliance.

Their partnership began in 1999, when Renault rescued Nissan from bankruptcy.

Mitsubishi Motors joined in 2016, with Nissan taking a 34-percent stake in its struggling Japanese rival.

But numerous tensions emerged within the group, including by the French state increasing its stake in Renault in 2015 and the 2018 arrest of its leader Carlos Ghosn in Japan on suspicion of financial misconduct and his subsequent flight from the country.

As part of the rebalanced alliance, Nissan took a stake in Renault's new electric car division called Ampere.

Agence France-Presse

Related Topics: