Renault will sell all dealerships in Europe

Renault will sell all dealerships in Europe

February 28, 2020 0 By autotimesnews

Renault intends to sell some of its own dealerships in France as the automaker embarks on a comprehensive cost-cutting program to reduce total spending by a total of € 2 billion over the next three years.

The car company said in a press release this week that as part of a restructuring of its retail operations, which is due to be completed by 2024, 10 dealerships will be sold in France to ensure “sustainable and profitable growth” and prepare for a future where car buying will happen online.

Renault Retail Group, a subsidiary of the Renault Group, which has a total of 275 dealerships and 12,000 employees in 14 European countries, implements the brands Renault, Dacia and Nissan. It has 94 outlets in France.

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Renault claims to be the second largest car distribution company in Europe and accounts for 35% of the group’s sales in France and 20% throughout Europe.

Although Renault is cutting its retail presence, French rival PSA Group announced last week that it is recruiting 1,300 employees for its own retail subsidiary.