Tesla’s VP of Finance, Sendil Palani, highlights the significant challenges posed by varying state laws hindering the company’s direct-to-consumer sales model, echoing concerns raised by Rivian CEO RJ Scaringe about the impact of dealer-backed legislation.
Renault’s first-quarter revenue rose 1.8% to €11.7 billion, exceeding analyst expectations. The increase was driven by higher financing revenue and a 2.6% growth in car sales volumes. However, automotive revenue declined slightly by 0.7% due to unfavorable exchange rates and increased destocking by dealers. Renault’s optimism remains high for accelerated sales growth in 2024 with upcoming new model launches. The automaker reaffirmed its financial targets of a 7.5% profit margin and €2.5 billion cash flow forecast, while continuing to focus on cost reduction measures.
