Frances Renault announced on Monday a 3.2% increase in global vehicle deliveries in 2014 boosted by a strong demand for its budget Dacia brand in Europe.
Renault delivered a total of 2 712 432 vehicles through the past year. However, Renault said that its performance lagged behind the global automotive market, which climbed by 3.5%.
Europes third largest carmaker sold 511 465 vehicles in the twelve months to December of its Romania-based Dacia brand, marking a second year of strong performance with a 19.1% increase compared to 2013. The brand also accounted for 18.86% of Renault overall sales.
The market share of the French company expanded to 10%, up 0.6 points, in Europe, reflecting stronger performance in nearly all countries, including growth of 41.9% in the United Kingdom and 42.1% in Portugal.
New car registrations in Europe climbed 12.5% to 1 464 611 vehicles, driven by robust demand for its Clio, Captur, Duster and Sandero models. The strong performance in Renaults largest market helped offset a slowdown in international sales.
Vehicles sales outside Europe declined 5.9% to 1 247 821, including a 10.7% fall in the Americas and a 9.2% decrease in Africa, Middle East and India. International sales represented 46% of all volumes, compared to a 50% in 2013.
Despite the overall non-Europe slowdown, Renault managed to expand its market share in Brazil and Russia, the companys second- and third-largest markets to 7.1% and 7.9% respectively.
However, sales in Russia fell 7.4% to 194 531 vehicles amid a drop in value of the ruble. In Brazil volumes slightly increased with 0.3% to 237 187 units.
“We are forecasting an increase in our global volumes, the strengthening of our position in Europe and improvements in our positions on our main emerging markets. Our growth will be sustained by an accelerated product plan, with five new models,” said Jérôme Stoll, Renaults vice-president of sales and marketing.
Mr. Stoll also added that the company expected a modest global growth of 2% during 2015, including 1% to 2% in Europe, with France projected to remain stable.
Renault SA edged up 2.06% on Friday and closed at €62.94 in Paris. On Monday the stock climbed 1.13% to €63.65 at 12:42 GMT, marking a one-year decrease of 6.73%. The company is valued at €18.61 billion.
According to the Financial Times, the 21 analysts offering 12-month price targets for Renault have a median target of €73.00, with a high estimate of €95.00 and a low estimate of €60.00. The median estimate represents a 15.98% increase from the last close price.
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