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.

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.