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FILE PHOTO: The logo of the French car manufacturer Renault is visible at a dealership of the company located in Illkirch-Graffenstaden near Strasbourg, France, January 10, 2019. REUTERS / Vincent Kessler
PARIS (Reuters) – Renault announced a 4.8% drop in sales in the first quarter, weighed down by currency contractions and the withdrawal of the French automaker last year.
The turnover rose from 13.155 billion a year earlier to 12.527 billion euros in January-March, announced Friday the company. On a comparable basis, excluding currency effects, the decline would have been 2.7%.
Renault's worldwide deliveries decreased by 5.6% to 908,348 vehicles during the quarter. The withdrawal of the company in Iran led to a 31% drop in sales in Africa, the Middle East and India, while its sales volume in Europe increased by 2%.
The automaker has reiterated the forecast for 2019, including a rise in revenues, a positive car cash flow and an operating margin of the group close to 6%.
Report by Laurence Frost; Edited by Sudip Kar-Gupta
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