Renault may close a number of factories

Renault may close a number of factories

February 15, 2020 0 By autotimesnews

French Renault is preparing a plan for large-scale cost savings, which includes a reduction in structural costs of € 2 billion, and may also involve the closure of some enterprises.

The publication talks about a reduction in structural costs of € 2 billion due to occur in the next three years. It is also noted that on the table lies an option with the closure of enterprises. In addition, the company still has a small stake in the German automobile concern Daimler, “with which nothing has happened the last two years,” and the French own 43% of the Japanese company Nissan.

On Friday, Renault showed the world an annual financial report, according to which the net loss in 2019 amounted to € 141 million. So the document says that sales volumes decreased by 3.4%, to 3.8 million cars. The turnover of the Renault group of companies amounted to € 55.5 billion (a decrease of 3.3% compared to 2018), of which AvtoVAZ (+ 3%) accounts for € 3.1 billion.

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