French vehicle giant Renault reported a turnover that was lower than expected in the third quarter.
Turnover amounted to EUR 11.48 billion, compared with Bloomberg's analyst consensus, which was 12.17. The registrations increased by 2.9 percent during the period while the market declined 2.4 percent. As a result, Renault increased its market share by 0.2 percentage points to 4.0 percent.
Renault confirms the full-year forecast but lowers the outlook for how the overall market will develop.
The French company now estimates that the global vehicle market is increasing by 2 percent compared to the previous 3 percent. For Europe, the increase is expected to be 1.5 percent, in line with previous forecasts. France is expected to grow by 4 percent, up from previously 2 percent.
The important China market is now expected to only grow by 2 percent, compared to the previous 5 percent. Brazil, Russia and India remain at 10, 10 and 8 percent, respectively, which is unchanged from earlier.