European automakers report mixed results amid electric vehicle expansion
Renault reported strong EV growth while Stellantis returned to profitability in Q2, though investor skepticism remains.
European carmakers are posting contrasting financial and sales results as they navigate the transition to electric vehicles (EVs). French manufacturer Renault saw a 47.6% surge in pure EV sales during the first half of the year, driven by electric remakes of classic models like the R5 and Twingo. Despite a minor 0.4% dip in overall deliveries caused by early-year logistical hurdles at its Dacia brand, EV sales accounted for 20% of Renault's total volume.
Meanwhile, Stellantis, owner of Opel, Peugeot, and Fiat, reported a return to profitability in the second quarter following recent market turbulence. However, investors remain cautious despite management signaling recovery.
Sources: ORF, FAZ.