PARIS—A solid performance by Renault’s higher-value brands helped soften an overall drop in annual worldwide group sales at the French carmaker, as its focus on more profitable models pays off. Renault’s worldwide group sales fell for the third year in a row in 2021, due notably to problems with the supply of chips used in vehicles. Renault, whose Chief Executive Luca de Meo has moved from a strategy of chasing volume to creating value, said sales of passenger cars and light vehicles fell 4.5 percent to 2,696,401 units. Sales of the Renault brand were down 5.3 percent although sales of the low-cost Dacia brand increased by 3.1 percent, Lada’s sales progressed by 0.3 percent while sales of the Alpine sport model jumped 74 percent .ts last year. Renault’s shares rose around 2 percent. “The sales policy initiated in the third quarter of 2020, is leading to an increase in the …