PARIS, Oct 19 — Renault Group again achieved a strong performance in the third quarter with total revenue increasing by 13.8 per cent at constant exchange rates, the French carmaker said in a statement today, reported dpa news.

The worldwide group’s sales were 511,000 vehicles in the third quarter, up 6.1 per cent compared to a year ago. In Europe, sales were up 15.3 per cent. Third quarter group revenue was €10.5 billion (RM52 billion), up 7.6 per cent from a year ago.

For the nine-month period, group revenue was at €37.4 billion, up 21.1 per cent from last year, or an increase of 25.3 per cent at constant exchange rates.

Looking forward, Renault confirmed its fiscal 2023 financial outlook with a group operating margin between 7 per cent and 8 per cent; as well as a free cash flow superior or equal to €2.5 billion.

Renault expects a group operating margin in the second half above the first half, which was at 7.6 per cent.

The Renault-Nissan-Mitsubishi Alliance, founded in 1999, is the world’s leading automotive partnership. Renault and Nissan have entered into a new agreement, with completion expected to occur in the fourth quarter.

"Following the signature of the Alliance definitive agreements in July, we confirm that the completion of the transaction is expected by the end of the year, as planned. This will create additional value through common operational projects and give Renault Group the opportunity to optimally reallocate part of its capital,” said chief financial officer Thierry Piéton. — Bernama-dpa