Renault sales down 5.9% in 2022

PARIS, Jan 18 (Reuters) – Automotive group Renault’s 2022 sales fell 5.9% to 2,051,174, the fourth consecutive annual decline due to capacity shortages and supply chain issues, the company said on Wednesday.

The company said it is starting the year with a better order book and higher inventory, giving it the confidence to return to sales growth in 2023.

In November, Renault announced a reorganization that would see it split operations into five businesses, strengthen ties with China’s Geely, and spin off its electric vehicle division through a stock exchange listing later this year. The company is also in talks with Japan’s Nissan to reform their long-standing partnership.

Renault shares rose by 0.63% by 13:05 Moscow time. Original message in English available by code (Sylvia Aloisi and Gilles Guillaume)

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