Renault expects sales growth to accelerate this year by launching a range of new models.
In the report it shared on April 23, the company reported that its revenue in the first quarter increased by 1,8 percent to 11,7 billion euros.
Sales also increased
The company's global vehicle sales increased by 2,6 percent in this quarter compared to the previous year, reaching 549 thousand 99.
While it is in the midst of a turnaround plan, it is also accelerating the transition to electric models and will launch seven new models this year, including the 25-euro all-electric Renault 5.
2024 will be violent
The global automotive industry is bracing for a heady year as demand for electric vehicles slows, adding another challenge to companies already struggling with fierce competition from China.
The lack of affordable options is a major obstacle to wider adoption of electric vehicles.
Renault Chief Financial Officer Thierry Pieton said that the company is on track to reduce electric vehicle costs by 2027 percent by 40.
Pieton also stated that orders for the updated electric Dacia Spring, whose price is below 20 thousand euros, will start in the second half of this year.
