Renault (RNO) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 revenue reached €11.4 billion, up 6.8% year-over-year, with global unit sales rising 9.8% to 529,000 units and automotive revenue at €9.8 billion, up 5%.

• Electrified vehicle mix rose to 44% of sales, with EV sales up 122.1% and HEV sales up 25%.

• All brands—Renault, Dacia, and Alpine—posted growth, with Alpine sales up 275% and Dacia sales up 16.2%.

• International sales grew 14.9%, European sales up 7.5%, and retail sales accounted for 63.8% of group sales in key European markets, 20 points above market average.

• The group maintained a value-over-volume strategy, focusing on retail sales and residual values.

Financial highlights

• Automotive revenue up 6.8% at constant exchange rates, with a negative forex impact of 1.8 points.

• Mobility Services revenue rose 64% to €23 million, and Mobilize Financial Services revenue grew 18.4% to €1.59 billion.

• Inventory at end-September stood at 538,000 units, up 8,000 units from June, with a year-over-year reduction in independent dealer stock.

• Nine-month 2025 group revenue reached €39.1 billion, up 3.7% year-over-year (+5.1% at constant FX).

Outlook and guidance

• Full-year 2025 guidance confirmed: operating margin around 6.5%, free cash flow between €1.0–1.5 billion.

• Order intake in Europe showed high single-digit growth year-over-year in Q3, with orderbook at 1.6 months and strong Q4 sales expected.

• Inventory target for year-end set at 525,000–550,000 units.

• Focus remains on value over volume, cost reduction, and maintaining high plant utilization (~90%).

• Q4 launches include Renault Boreal, Kwid E-Tech, Alpine A390, and Clio 6 (first deliveries in Q1 2026).