Renault gets a ‘wake-up call’ — a record $8.6 billion loss

Renault gets a ‘wake-up call’ — a record $8.6 billion loss

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French carmaker Renault said it had been given a wake-up call on Thursday with a record net loss of 7.29 billion euros ($ 8.6 billion) in the first half of the year, inflicted by the COVID-19 crisis and troubles at its alliance partner Nissan. Renault shares were down 3.3% when trading opened in Paris. “Today’s results will be a disturbing wake up call,” CEO Luca de Meo, the former Volkswagen executive who started at Renault this month, said on a call with analysts.

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Renault gets a ‘wake-up call’ — a record $ 8.6 billion loss originally appeared on Autoblog on Thu, 30 Jul 2020 08:33:00 EDT. Please see our terms for use of feeds.

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