The carmaker says the increase in its finances comes from the positive volume effect of the automotive business, which contributed EUR18,778 million to consolidated revenues, meaning an increase for the six months of 24.4 percent.
“The actions we have undertaken are paying off. All Group brands and Regions increased market share. We also controlled our costs, benefiting from synergies within the Alliance,” the group's CEO, Carlos Ghosn said in a statement.
The good results open new prospects for the carmaker. The outlook is positive, given the fact that the performance for the first half have exceeded estimates. Renault targets a positive free cash flow and plans to increase its market share in the main markets.
“In an uncertain environment in the second half of 2010, the Group will continue to focus on its key target of generating positive free cash flow for the full year,” Ghosn added.
The creation of the EV market is also hoped to contribute to the rise in revenue, with the first effects to be felt next year. The French manufacturer is beginning road testing of its future line of EVs, which will be comprised of the Fluence ZE and Kangoo ZE.
660 cars will be handed to possible buyers, "guinea pigs" as Renault likes to call them for testing.
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