- Bloomberg
Renault Falls as Car Industry Malaise Eclipses Record Margin
(Bloomberg) -- Renault SA dropped the most in more than two years after partner Nissan Motor Co. and European peer Stellantis NV reported disappointing results, eclipsing record returns for the French carmaker in the first half of 2024. Most Read from BloombergHarris Just Showed Why Trump Is So Afraid of HerTrump Risks Losing Voters He Needs With Loaded Attacks on HarrisI Changed My Mind. The Fed Needs to Cut Rates Now.Wall Street’s Rotation Resurfaces After GDP Data: Markets WrapYen’s Gain Spar
- Reuters
Renault sticks to 2024 outlook as first-half profit beats estimates
Renault posted a better-than-expected operating profit for the first half of the year on Wednesday due to strong pricing and new vehicle launches, and stuck to its full-year profit-margin forecast. The French automaker last week reported that its first-half sales volume rose 1.9% versus the same period in 2023 due to the strong performance of hybrid models in Europe, its key region. Renault posted a higher operating margin of 8.1% for the first half of the year, up from 7.6% a year earlier and higher than the 7.9% expected by analysts.
- Bloomberg
China’s Geely Confirms Saudi Aramco to Buy 10% Stake in Renault JV
(Bloomberg) -- Saudi Aramco will take a 10% stake in an automotive joint venture with France’s Renault SA and China’s Zhejiang Geely Holding Group Co., a smaller commitment than originally signaled by the world’s biggest oil company. Most Read from BloombergGavin Newsom Is Ready for the Biden EmergencyPanicked Emails, Gallows Humor: The Aftermath of Biden's Debate DisasterThe Question on Democrats’ Minds: How to Replace Biden?Biden’s Disastrous Debate Accelerates Doubts Over CandidacySupreme Cou
