Renault revenue rises in first quarter as Europe recovers

PARIS – French carmaker Renault says its revenue rose 11.7 per cent in the first quarter of the year, mainly thanks to the recovery of the European market.

The company said Thursday that revenue hit 10.49 billion euros ($11.91 billion). Registrations reached 692,453 globally, a rise of 7.3 per cent, which Renault said beat the world market growth of 1.5 per cent.

New models including the Espace, Kadjar and Talisman helped its business in Europe, which offset declines in struggling economies like Russia and Brazil.

The company confirmed its expectations that revenues would grow for the full year.