Renault says price hikes helped sales grow

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STORY: Renault’s sales are up.

They rose close to $9.6 billion in the third quarter.

That’s thanks to price increases.

Meaning that the French carmaker has been able to more than offset a fall in the number of cars sold from last year.

Global carmakers are grappling with semiconductor shortages, soaring energy costs and supply chain bottlenecks.

Despite that, Renault said it had recorded it’s best-ever price effect as quarterly vehicle sales decreased by 2.4% from last year.

And overall group revenues grew by 20.5%.

But Renault heads into the year’s final quarter with major challenges ahead.

It is finalizing plans to split its thermal engine and electric vehicle departments into separate units.

That amid tense talks aimed at reshaping its strategic partnership with Japanese automaker Nissan.

The two automakers said last week they were in talks about a new phase in their partnership.

It could include Nissan investing in Renault's new electric vehicle venture.

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