Renault Group delivered 497,799 passenger cars and light commercial vehicles in the third quarter of 2026, 6% fewer than in the same quarter of 2025. Group revenue still rose 1.5% to €11.596 billion. The result reflects a difficult volume environment, but also Renault’s effort to protect the value of each sale through retail mix, partner activity and a growing electrified range.
Automotive revenue was broadly stable
Automotive revenue reached €9.835 billion, essentially flat year on year. At constant exchange rates, it declined 0.2%. Mobilize Financial Services provided a stronger contribution, with revenue up 11% to approximately €1.8 billion in the quarter.
Renault Group said the automotive business was affected by a negative volume impact of 5.9 points, mainly caused by the 6% fall in registrations. A positive 4.9-point effect from sales to partners partly compensated for the lower registrations. The company specifically cited the Geely partnership in Brazil, where vehicle distribution was ramping up and local production began in September.
The group had 532,000 new vehicles in total inventory on September 30. Independent dealers accounted for 312,000 units and the group for 220,000. Renault expects inventories to move towards the lower end of its 525,000-to-550,000-unit range by the end of the year.
This means the quarter was not simply a story of fewer cars and lower revenue. Renault sold fewer vehicles, but the revenue impact was limited by the sales mix and other business effects. The company is trying to reduce reliance on channels that can produce volume without delivering the same value to the manufacturer.
Renault grew while Dacia declined
The Renault brand delivered 349,901 vehicles in the third quarter, down 2.9%. During the first nine months, it sold 1,178,946 vehicles, up 1.1% year on year. Passenger-car sales rose 0.9% in that period, while light commercial vehicle sales increased 1.6%.
Dacia delivered 144,175 vehicles during the quarter, a 12.8% decline. Its nine-month total fell 9.7% to 471,007 units. Renault Group attributed the result to a product-cycle and powertrain transition, as customers and regulations push the market towards a broader electrified mix.
Alpine recorded the strongest percentage growth among the group’s brands. Its third-quarter deliveries rose 58.4% to 3,723 vehicles. Over nine months, Alpine delivered 12,269 cars, up 65.6%. The Alpine increase is small in absolute terms compared with Dacia’s decline, but it contributes to the group’s model and revenue mix.
Retail sales and Romania
In Europe, Renault Group focused on the quality of its sales channels. Retail sales rose 5% in the third quarter. The retail mix increased by 4.6 percentage points to 64.8%. Short-term rental and demonstration-vehicle sales fell 18%, reducing exposure to channels that Renault classifies as less value-accretive.
Romania was listed among Renault Group’s 15 largest markets at the end of September. The group reported 27,175 passenger cars and light commercial vehicles in Romania, with a 24.9% market share in its strategic-market table. The figure covers the first nine months and combines the group’s brands.
Renault’s European sales rose 3.1% over the first nine months, putting the brand in second place among brands according to the company. Northern European passenger-car sales increased 6%. Germany rose 8.6%, the United Kingdom 3.8% and Denmark 24.2%.
EV sales grew faster than total deliveries
Electric vehicles were the most visible growth area. Renault Group’s EV sales increased 84.7% compared with Q3 2025 and accounted for 25.8% of group passenger-car sales. The increase was not large enough to offset the group’s total volume decline, but it significantly changed the mix of vehicles being sold.
For the first nine months, EVs represented 20.9% of Renault Group’s passenger-car sales. Renault’s European passenger-car mix was more electrified: 68% of the brand’s sales were electrified at the end of September, and Renault EV sales increased 75.2%.
The group is expanding that offer through several products. Renault continues to develop its electric range around cars such as the Renault 5 E-Tech electric. Dacia introduced the full-hybrid 155 powertrain on Sandero. Renault Group also identified the new Spring, Dacia Striker, Sandero Hybrid, the new Megane E-Tech electric and the Trafic Van E-Tech electric as products supporting its second-half activity.
International pressure remains uneven
In Türkiye, Renault Group sales fell 18% in the third quarter, although the group said it outperformed a local market that declined 23.3%. Latin America was also difficult. Competition was intense, with additional pressure in Argentina, where the local market fell 19.2%.
Across the first nine months, the group sold 1,662,222 vehicles, down 2.2%. Renault grew 1.1%, Dacia fell 9.7% and Alpine grew 65.6%. Renault Group reported nine-month growth in India, Türkiye, Morocco and Brazil, although the third quarter was weaker in several key markets.
Guidance remains unchanged
Renault Group confirmed its 2026 guidance. It expects a group operating margin of around 5.5% of revenue and automotive free cash flow of approximately €1.0 billion.
The company expects the usual seasonal improvement in the second half to be less pronounced than in previous years because of higher raw-material costs and inflation. Renault’s Q3 result therefore combines lower deliveries with stable automotive revenue, stronger retail discipline and rapid EV growth. The next test is whether the new products and powertrains can restore volume without weakening the group’s pricing and inventory control.
