Carmaker Renault says revenue fell 3.2 per cent in 3rd quarter despite sales growth in Europe

PARIS – Renault says its revenue slipped 3.2 per cent in the third quarter even as the French carmaker sold higher numbers of vehicles, led by strong demand in Europe.

The maker of Clio and Twingo hatchbacks and sedans reported revenue of 8 billion euros ($11 billion) for the July-September period, down from 8.3 billion euros a year earlier.

In a statement Thursday, Renault said its third-quarter performance was led by a 10.2 per cent increase in sales in Europe, where the carmaker sees demand stabilizing at a low level after shrinking for years.

The company says it remains on track to achieve its targets, including higher overall sales in 2013 and a positive operating margin in its car business.