Renault scores new sales record driven by emerging markets

Paris: French car giant Renault on Monday reported a nearly 10 percent surge in sales in the first half of 2018, scoring a new 2.1 million vehicle sales record driven by gains in Russia, Argentina and Brazil.

“For the third consecutive year, we have set a new sales record, with nearly 2.1 million vehicles sold in the first half,” Renault’s executive vice president of sales and marketing Thierry Koskas said in a statement.

In Europe, Renault’s registrations rose 2.8 percent, where the group took an 11 percent share of the market, the statement said.

The compact Clio 4 car was the second best-selling car in Europe, while Renault’s electric vehicle range “confirmed its leadership with a market share of 21.9 percent”.

Outside Europe, the Renault group saw a whopping 22.2 percent jump in registrations in Argentina, and of 13.7 percent in Brazil.

In Russia, the group’s second-biggest market, sales rose by 19.7 percent, the statement said.

In Iran, sales fell 10.3 percent as the United States prepared to reimpose sanctions after President Donald Trump announced in May he was withdrawing from the landmark nuclear deal.