Renault 2020 sales slump on pandemic

In the last three months of the year, orders in this segment were up 14 percent from a year earlier in Europe, Renault said.

Paris: French auto giant Renault reported Tuesday that sales by volume slumped 21.3 percent last year to 2.9 million vehicles in a market down 14.2 per cent due to the coronavirus pandemic.

The fall was “principally due to the company’s large exposure to countries which imposed strict lockdowns… in the second quarter, plus a another slowdown in the fourth quarter, especially in France,” Renault said in a statement. For Europe as a whole, sales fell 25.8 per cent to 1.4 million units.

Hybrid and electric vehicles held up better than traditional cars in the second quarter and in the last three months of the year, orders in this segment were up 14 percent from a year earlier in Europe, Renault said. “From now on we will focus on profitability rather than sales volume, with unit margins being higher,” Renault chief Luca de Meo said.