Renault’s sales down by 34.9% in the first half of the year

Renault SA (RENA.PA) announced on Monday that its global car sales fell by 34.9% in the first half of the year due to the impact of the coronavirus pandemic. However, the company said that it had seen some signs of recovery in June.

The French automaker sold 1.26 Million vehicles this year compared with its 1.93 Million sales in 2019 due to its high exposure to countries that have undergone strict lockdowns.

“The world is going through an unprecedented crisis with a major impact on our business. As soon as the recovery began, our plants and sales network quickly mobilized to meet our customers’ needs, with demand sustained in June by government aid measures in Europe. We are starting the second half of the year with a very high level of orders, a satisfactory level of inventory, a rising price positioning across the entire range, and a new E-TECH Hybrid offer that is unique in its segment and already very well received,” Renault’s Senior Vice-President for Sales and Regions Denis le Vot said.

Renault’s sales amounted to 623,854 vehicles was down to 42% in Europe.

The company successfully renewed all its B-segment models in June while its market shares increased by 10.5%.