Renault suffered a record loss in 2020

Renault suffered a record loss in 2020

February 20, 2021 0 By autotimesnews

The French concern Renault has shared its financial report for the past year, according to which, in the reporting period, the brand received a record net loss of 8 billion euros. Recall that in 2019, the loss amounted to 141 million euros.

At the same time, the first half of last year turned out to be especially unsuccessful, when the pandemic began, and the French manufacturer did not manage to quickly take the necessary actions. But in the second half, the French managed to change the situation for the better by reducing fixed costs and changing pricing policy.

Renault’s turnover last year reached 43.474 billion euros, which is 18.2% less than in 2019. In turn, the French company assumes that they will return to profit in 2023.

Recall that Renault is a French car company headquartered in Boulogne-Billancourt, near Paris. Note that throughout its history, this corporation has used a large number of emblems. The most famous Renault symbol is the vertically elongated rhombus, which appeared in 1925.