French carmaker Renault (RENA.PA) said on Thursday its revenues rose by 7.6% in the third quarter thanks to sales of higher-end market models, though currency depreciations in Turkey and Argentina weighed heavily on the pace of growth.
A logo of Renault is seen on a car during the French carmaker Renault's 2022 annual results presentation in Boulogne-Billancourt, near Paris, Feburary 16, 2023. REUTERS/Christian Hartmann/File Photosaid on Thursday its revenues rose by 7.6% in the third quarter thanks to sales of higher-end market models, though currency depreciations in Turkey and Argentina weighed heavily on the pace of growth.
The depreciation of the Argentinian peso and the Turkish lira had a negative impact in the quarter that almost offset the positive effect of Renault being able to increase prices and rein in promotions, as well as focusing on its premium models.
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