Renault expects slight 2020 car market decline in Europe, Russia and China
The French auto manufacturer reported a 3.4 per cent dip in global sales last year
Renault said it expected a slight decline in the car market in Europe, Russia and China this year after the French carmaker reported a 3.4 per cent fall of worldwide sales in 2019 as China and Iran weighed.
Sales grew by 1.3 per cent to 1.94 million units in Europe but fell 17.2 per cent in China. Sales also fell by 19.3 per cent in Africa, Middle East, India and the Pacific region, Renault said in a statement.
Renault has suffered since August 2018 from the closure of the Iranian market where the company sold around 101,000 vehicles, which it was not able to do last year.
In 2019, sales were also down 44.5 per cent in Argentina and 26.5 per cent in Turkey.
Renault's executive vice-president sales Olivier Murguet said at a press conference that the automotive market would slightly decline in Europe, Russia and China in 2020.
The company also expects growth in the market in Brazil and an upturn in Turkey this year.
“For the group, 2020 will mark a new stage in its electric offensive with the launch of Twingo ZE and the deployment of its new E-Tech hybrid and plug-in hybrid offer," Renault said.
Mr Murguet said the company was targeting 70 per cent growth in its electric cars sales in 2020.
French rival PSA Group on Thursday reported a 10 per cent fall in 2019 global sales to 3.49 million units, down from a record 3.88 million, hurt by falls in China, the Middle East and Africa.
Updated: January 17, 2020 05:15 PM