By Gilles Guillaume and Diana Mandia

(Reuters) -Renault on Wednesday reported a 9% enhance in annual world gross sales volumes for 2023, returning to progress after 4 consecutive years of decline and the French automaker mentioned it was poised to proceed its robust efficiency in 2024.

The group noticed its volumes drop practically 6% in 2022, a 12 months closely hit by semiconductor chip shortages, after setting a gross sales document of three.88 million autos – vehicles and vans – in 2018.

Renault (EPA:)’s gross sales hunch was exacerbated by its exit from the Russian market.

To spice up gross sales, Renault shrank its car vary and refocused below CEO Luca de Meo on its most worthwhile markets and fashions.

“We’re regaining our attractiveness (…) our design is bettering, and we additionally see this in our conquest charges,” Fabrice Cambolive, Renault model basic supervisor advised reporters. “The plan is to proceed at this identical stage of efficiency” in 2024.

The carmaker’s flagship Renault model, which accounts for greater than two-thirds of group gross sales, recorded a 9.4% gross sales enhance in 2023, whereas gross sales at its low-cost model Dacia grew 14.7%.

The group’s order ebook in Europe represents 2-1/2 months of forecast gross sales on the finish of December 2023, Renault added.

Europe accounted for 63% of the gross sales in 2023, however the automaker plans to develop outdoors Europe with eight new world mannequin launches by 2027.

Electrified fashions represented 40% of Renault model gross sales in 2023, up from 38% in 2022. Totally-electric fashions made up 11% of gross sales.

The French automaker, which can report annual outcomes on Feb. 15, is focusing on an working margin of between 7% and eight%, in comparison with below 6% in 2022.

Requested about provide disruptions attributable to assaults within the Crimson Sea, Cambolive mentioned “we’ve got visibility over the following eight weeks.

“After that we do not know what might occur,” he added.