Renault blames record loss on the corona crisis and partner Nissan | NOW

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Groupe Renault, which includes the car brands Renault and Dacia, recorded a record loss of 7.3 billion euros in the first six months of this year. The group blames the loss of the consequences of the corona crisis and the negative contribution of alliance partner Nissan of almost 5 billion euros.

The French company said this in an explanation of the results on Thursday. Renault forms a partnership with Nissan and Mitsubishi.

Car sales under the umbrella of the Renault group fell by about 35 percent to 1.26 million units. Sales thus amounted to 18.4 billion, a decrease of over 34 percent. Renault calculates that the corona crisis has a negative impact on the figures of 1.8 billion euros.

Renault wants to save 600 million euros on costs this year and says it is making good progress. “Although this situation is unprecedented, it is not final,” said CEO Luca de Meo. “I am confident in the group’s resilience.”

At the end of May, the company announced that it wanted to make major cutbacks and cut about fifteen thousand jobs.

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