4/23, 7:36 AM (Source: TeleTrader)
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Renault's sales drop 25.9% in Q1

Renault SA said on Thursday its sales in the first quarter of 2020 plunged 25.9% to 672,962 vehicles and its revenue dropped 19.2% year on year to €10.1 billion due to the coronavirus outbreak.

Europe sales were down 26.2% compared to the same quarter a year ago, while sales outside Europe fell 13.4%.

The French carmaker also suspended its 2020 guidance as a result of the pandemic and its board gave up on plans to propose a dividend at its annual meeting scheduled for June 19.

Breaking the News / NP