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Reviews automotive industry: Renault writes to billions of loss again black numbers

16:00  30 july  2021
16:00  30 july  2021 Source:   ksta.de

Well-Known Supercar Dealer CNC Motors Accused of 'Stealing' Cars in Massive Alleged Fraud

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The French carmaker Renault wrote black numbers again in the first half of the year. As the company announced on Friday, the net profit account for the Group was 354 million euros. In the same period of the previous year, Renault had earned a loss of 7.29 billion euros. Nevertheless, the result remained behind the 970 million euros profit in the first half of 2019, ie before the Corona crisis.

Ein Renault steht auf einem Parkplatz © Picture Alliance / dpa / ap A Renault is located on a parking lot

The Group sees the results as a result of its savings plan. The boss Luca de Meo, which has been, since the middle of last year, sets less on mass and instead aims to achieve higher returns. By 2025, 3 billion euros will be saved. In order to come out of the crisis, the Group had announced the reduction of 15 000 digits last year. In addition, the company was able to use a state-guaranteed credit in a billion level.

Group sales now rose by 26.8 percent to 23.4 billion euros. Despite missing electronics components, higher raw material prices and consequences of the Corona crisis, Renault wants to be similar profitable in the full year as in the first six months.

The manufacturer has been in the crisis for a long time. The economic consequences of the pandemic were added. The deep red numbers at the Japanese partner Nissan, where Renault is involved with 43.4 percent, pressed the minus in the same period of the previous year. (dpa)

Massive Classic Car Collection Impacts Car Community .
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usr: 1
This is interesting!