ISTANBUL

French automotive giant Renault Group increased its sales by 2.9% year-on-year in the first quarter of 2025, according to financial results the company released on Thursday.

The company increased its sales by producing 564,980 units in the first quarter.

In Europe, sales rose by 2.8% during the same period, to 402,413 units sold.

"On (the) International market, (the) Renault brand has increased its sales by 11.6%, supported by very strong growth in Latin America (+21.1%), Morocco (+45.5%) and South Korea thanks to the International game plan," it said.

The group's revenues amounted to €11.675 billion (approximately $13.29 billion), down 0.3% compared to the same period last year, but up 0.6% at constant exchange rates.

The group's automotive revenue amounted to €10.128 billion, down 2.2% at constant exchange rates compared to the first quarter of 2024.

"The commercial policy remained focused on value with a retail channel mix at 58.5% of sales, 16.8 points above market and a C-segment & above mix at 40.6% of sales. Renault Group maintains residual values meaningfully higher than its direct competitors thanks to a holistic approach to pricing," the statement noted.

"Cost management continues to be a key priority. In a very unstable macroeconomic environment, Renault Group has decided to proactively engage additional cost reduction measures," said Duncan Minto, CFO of Renault Group. "These efforts will enhance our competitiveness."