Automobile manufacturer, Renault, recently reported its profit and quarter performance for the first half of the year; the company manages to heed better results from the country where they failed to capitalize on such as Russia. The recovery was made possible by the Nissan-Renault alliance that took other competitions a run for their money.


First Half Performance

The French car maker graced us with a great result from their report; the company’s operating profit was bolstered by 18% to 1.82 billion euros or a whopping $2.13 billion. The auto company also noted today that their revenue was increased to the 29.5 billion; the great figures were indicators of the company’s performance in Russia.

The French-based company also reported a slight increase in its operating profit margin from the 6.1% to a 6.2% this first half with Renault’s core auto division profitability also increasing by 0.1 points to a total of 4.8%.

Net income was also massively outperforming; it was tallied to have increased by a total of 58% to 2.38 billion euros; the great performance was massively impacted by the 43.4% Nissan stake Renault owns. The Nissan stakes managed to add a total of 1.29 billion euros on the total net income that was reported; the stakes’ performance was up by 72% from last year’s contribution.

Renault-Nissan Alliance

The amazing duo which includes Mitsubishi Motors Corp managed to sell a total number of 5,268,079 units from the duration of the first half which was from January to June. These sales were better and biggest that of the Volkswagen’s sales which were at 5155,600 and from its Japanese rival, Toyota Motor Corp who managed to garner sales of 55,129,000 units for their first half.

The alliance manages to bag the first place for the first time in global vehicle sales; overtaking Volkswagen, which includes Audi and Lamborghini, who was crowned to be the world leader in auto unit sales. While the US rival, General Motors, who managed to keep the top spot in unit sales for the last seven decade was wobbling at the fourth place with only 4.7 million vehicles sold for the first half of the year.


Renault’s Advance Blockchain Method

The French-based car company is also cooking something technologically advance; they managed to have a partnership with Microsoft and VISEO for their data storage and security. The auto company is looking to utilize Blockchain as a means of security and transparency with their car passport details.

According to the Digital and Connected Vehicles Director of the company, Elie Elbaz, “This digital car maintenance book will enable us to provide our customers with new services in an ecosystem alongside insurers and dealers. Blockchain technology is able to create a reliable trust protocol. Beyond this project, this technology will be a major step forward for connected vehicles and the micro-transactions and security requirements associated with them.”

Follow FSM News for your round-the-clock market update! We provide you with the latest news surrounding Forex, commodities, automobile, consumer, financial, economy, and technology. Never miss any news beat! Subscribe now!