First quarter revenues supported by price discipline in a still disturbed environment due to the pandemic

COMMERCIAL RESULTS: FIRST QUARTER HIGHLIGHTS

In a context still disturbed by the pandemic, Groupe Renault sold 665,038 vehicles in the first quarter of 2021, up 1.1% compared to the first quarter of 2020. This start of the year has confirmed the positive impact of the Group's profitability-oriented commercial policy, with a price effect of over 6 points. Besides, the Group is progressing on the most profitable sales channels.

Renault Brand

Renault brand sold 433,662 vehicles in the first quarter of 2021, up 1.3% compared to the first quarter of 2020.

In Europe, the market was up 3.9% supported by the strong momentum of the light commercial vehicle market. In this context, the Renault brand sold 250,163 vehicles up 2.7%.

In the European passenger car market, the electric and electrified versions of the Renault brand represented 23% of its registrations.

After the launch of Twingo E-TECH Electric, Renault brand continues to expand its line-up with the arrival of New Arkana E-TECH hybrid, New Captur E-TECH hybrid et New Mégane hatchback E-TECH plug-in hybrid in the second quarter.

In regions outside Europe, Renault is focusing on the most profitable segments : in India, the brand has successfully launched New Kiger in the fast-growing compact SUV segment; and in Russia, New Duster, on sale since March, is off to a strong start with a high version mix.

Dacia and Lada brands

Dacia brand sold 121,231 vehicles (+10.2%) thanks to the success of the launch of New Sandero and the good performance of the sales of Duster. New Dacia Spring 100% electric promises to be a success, given the pre-orders already registered.

Lada brand sold 90,472 vehicles with a good performance in the Russian domestic market (+5.4%), supported by Granta, Vesta and the successful launch of NIVA Travel.

FIRST QUARTER REVENUES BY OPERATING SECTOR

In the first quarter of 2021, Group revenues amounted to €10,015 million (-1.1%). At constant exchange rates and perimeter1, Group revenues would have increased by 4.4%.

Automotive excluding AVTOVAZ revenues amounted to €8,566 million, down -0.3%.

In addition to the change in inventories, which explains most of the negative impact of the volume (-6.5 points), revenues were adversely affected by a negative currency effect of -4.3 points.

The price effect was a strong positive (+6.3 points) illustrating the new commercial policy implemented as part of the strategic plan “Renaulution”.

The sales of Zoe, Twingo E-TECH Electric and the momentum of demand for commercial vehicles contributed to the positive product mix effect of +2.4 points.

AVTOVAZ’s contribution to Group revenues amounted to €685 million in the quarter, down -2.3%. At constant exchange rates and perimeter1, it would have increased by 20.9%.

Mobility Services posted revenues of €5 million compared to €6 million in the first quarter of 2020.

Sales Financing (RCI Bank and Services) revenues amounted to €759 million in the first quarter, down -8.2% compared to 2020, mainly due to the decline in the dealership activity and a negative exchange rate effect of -€24 million. The number of new financing contracts fell by -10.9%. Average performing assets amounted to €45.9 billion at the end of March 2021 down -6.9% compared to the first quarter of 2020.

At March 31, 2021, total inventories (including the independent network) represented 487,000 units compared to 661,000 at end March 2020, a decrease of -26%.