Renault expects slight 2020 car market decline in Europe, Russia and China

18 January 2020 12:01 am - 0     - {{hitsCtrl.values.hits}}

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PARIS (Reuters) - Renault said yesterday it expected a slight decline in the car market in Europe, Russia and China this year after the French carmaker reported a 3.4 percent fall of worldwide sales in 2019 as China and Iran weighed.


Sales grew by 1.3 percent to 1.94 million units in Europe but fell 17.2 percent in China. Sales also fell by 19.3 percent in Africa, Middle East, India and the Pacific region, Renault said in a statement. 


Renault has suffered since August 2018 from the closure of the Iranian market where the company sold had around 101,000 vehicles, which it was not able to do last year. 
In 2019, sales were also down 44.5 percent in Argentina and -26.5 percent in Turkey. 


Renault’s Executive VP sales Olivier Murguet said at a press conference that the automotive market would slightly decline in Europe, Russia and China 
in 2020. 


The company also expects growth in the market in Brazil and an upturn in Turkey this year. 
“For the group, 2020 will mark a new stage in its electric offensive with the launch of Twingo Z.E. and the deployment of its new E-Tech hybrid and plug-in hybrid offer,” Renault said. 
Murguet said the company was targeting 70 percent growth in its electric cars sales in 2020. 
Renault shares were up 1.86 percent at 0850 GMT. 
French rival PSA on Thursday reported a 10 percent fall in 2019 global sales to 3.49 million units, down from a record 3.88 million, hurt by falls in China, the Middle East and Africa.

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