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The Renault group has announced that it will revise its profitability forecasts for 2023 upwards after posting good sales since the beginning of the year. The French group, which includes the Renault, Dacia and Alpine brands, is now aiming for an operating margin rate (i.e. the ratio between operating profit and turnover) of between 7 and 8%, against a margin greater than or equal to 6 % predicted previously. The group expects to exceed 7% by the end of the first half, the results of which will be published on July 27. Renault attributes this revision to the “success of the new launches” and “the continuation of the commercial policy focused on value”, and no longer on the volume of sales.
«The Renault group reaches record levels of performance», commented the update of the estimates for 2023 by the CEO of Renault, Luca de Meo. «These results – he adds – are the result of our strategy focused on value and the unceasing commitment of the teams, over the last 3 years, to Renaulution which is transforming the Group in depth. The Renault group therefore improves its financial prospects for the current year, thanks to continuous efforts to reduce costs and with an unprecedented strategy in the history of the group. This product strategy, which involves all our brands, has just begun and will further enhance the group’s performance, while driving a unique transformation to become the Next Gen automotive company”.