- 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.
- Zacks
What Makes RENAULT (RNLSY) a New Strong Buy Stock
RENAULT (RNLSY) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
- Reuters
Renault sets sights on sporty EVs for profit boost
French automaker Renault presented an electric sports car on Thursday, the first in a planned range of premium EVs, which could help it fight off looming competition from China and grab share in a category outperforming the rest of the market. Better known for its mid- to low-end Renault and Dacia cars, Renault plans to roll out seven electric models under its Alpine sports brand to capture higher margins. The first, the compact Alpine electric A290, is based on the Renault 5, with some features of the Alpine sports car that races in Formula 1.
