Renault sales rise in the third quarter, supported by higher prices

Renault announced Friday, October 21, that its sales rose to 9.8 billion euros ($9.57 billion) in the third quarter, in line with analyst expectations, as price increases allowed the company to achieve revenue growth despite a decline in car sales from the previous year.

The French automaker said overall revenue rose 20.5 percent when adjusted after the disposal of its former Russian unit AvtoVAZ, adding that it had seen the best price effect ever, with quarterly car sales down 2.4 percent from last year.

Third-quarter sales of 9.8 billion euros were in line with analyst consensus.

Renault faces significant challenges in the fourth quarter as it is finalizing plans to split the heat engine and electric vehicle business into two separate units amid tense talks aimed at reshaping its strategic partnership with Nissan.

Renault is Nissan’s largest shareholder, owning 43%, while the Japanese automaker owns 15% of its partner.

The two companies announced last week that they are talking about a new partnership phase that could include Nissan’s investment in Renault’s new electric car project.