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RENAULT due to a pandemic with a loss of more than 7 billion!

Since the beginning of the year, the RENAULT-NISSAN Group has "generated" 7,29 billion in losses. Most of the loss is borne by Nissan and not Renault

Due to the coronavirus pandemic, reduced demand for cars has affected all manufacturers. And it looks like a group Renault-Nissan, even more than others. Nissan, which is 43,4% owned Renault, generated 4,8 billion in losses and the rest Renault alone. If in 2019 they only had at Renault in the first half of the year 970 million profit, this year the loss from sales in the first half of the year is 1,8 billion.

The last few months have been for Renault-Nissan difficult as sales fell by more than 34 percent. To overcome the difficulties is the state In France issued a bank guarantee for a loan of up to 5 billion.

Renault already announced at the end of May that it would reduce the number of jobs by around 15.000 in a socially responsible way and that it would implement billions in measures to reduce costs in order to combat the crisis.

For now, Renault will stay in FORMULAS 1, Nissan pa v FORMULAS E. This is also confirmed by the signing of Renault's contract with Fernando Alonso. It is true, however, that v FORMULAS 1 contracts mean nothing or everything can change overnight.

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Posted by: Zoran Habot

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