Vehicle manufacturer Renault has issued an update on its financial performance for the first half of 2013.

The company reported a slight downturn in revenues from the same period last year to €20.44 billion (£17.59 billion) – down 0.9 per cent.

However, operating margins for the firm improved over the same period from €508 million (2.5 per cent of revenues) to €583 million (2.9 per cent). Overall, group registrations for the six months stood at 1.3 million units – down 1.9 per cent on H1 2012.

Carlos Ghosn, chairman and chief executive officer of Renault, said: "The success of new models, cost controls and the commitment of all the teams enabled the Renault group to post a positive operating margin for automotive in the first half-year."

He added the company remains on track to fulfil its objectives for the remainder of 2013, despite ongoing difficult market conditions being witnessed across many parts of Europe and beyond.

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