Oddo BHF maintains its 'outperform' rating on Renault shares, with an unchanged target price of 60 euros.

Having attended an event organized by Renault focusing on Dacia, Oddo BHF believes that this focus has enabled it to better understand the company's strengths, and therefore to better appreciate it.

Among the specific features of Dacia that explain its success and enable it to post a sales price on average ~10-15% lower than its competitors, while being far more profitable, we would highlight its design-to-cost approach (focus on the essentials, weight reduction, re-use of components already developed within the group, reduced fixed costs, etc.).In this context, a new objective of doubling sales between 2022 and 2030 has been communicated, based on parity between the increase in volumes (1m units in 2030, >+50% vs. 2023) and the mix (growth essentially in the C segment).



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