Renault expects some decline in 2020 car market in some parts of Eurasia

by SpeedLux
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Renault stated on Friday it expected a slight drop in the auto market in Europe, Russia, and China this year following the report published by the French automaker showing a 3.4% fall of worldwide sales in 2019.

Sales increased by 1.3% to 1.94 million units in Europe but dropped 17.2% in China. Sales also dropped by 19.3% in Africa, Middle East, India, and the Pacific region, Renault stated.

Renault is having a hard time in the region since August 2018 from the closure of the Iranian market where the company sold had around 101,000 vehicles and was not able to repeat the same last year.

In 2019, sales also dropped 44.5% in Argentina and -26.5% in Turkey.

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

The company also expects development in sales in the market in Brazil and an upturn in Turkey in 2020.

“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 stated.

Murguet stated the company was aiming 70% growth in its electric cars sales in 2020.

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