Automobiles

Renault Says Sales Fell 21 Per Cent In 2020, But Turnaround On Track

The firm stated world complete gross sales final yr stood at 2.949 million automobiles. The fall in Renault gross sales in Europe was 25.8 %, barely under-performing the broader European auto market.


Renault said that global total sales last year stood at 2.949 million vehicles
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Renault stated that world complete gross sales final yr stood at 2.949 million automobiles

French automaker Renault stated on Tuesday its worldwide gross sales fell by 21.3% final yr, underperforming a decline within the world automotive market triggered by the COVID-19 pandemic and a slowdown in world economies. But the corporate, which is making an attempt to show round its efficiency after acknowledging it had overstretched itself over years of bold world growth, stated its turnaround plan was nonetheless on monitor.

It has stated a key factor of that plan is a give attention to profitability, not gross sales quantity.

“We are starting 2021 with a higher level of orders than in 2019, a lower level of inventory and a higher price positioning across the entire range”, CEO Luca de Meo stated in an announcement.

The firm stated world complete gross sales final yr stood at 2.949 million automobiles. The fall in Renault gross sales in Europe was 25.8 %, barely under-performing the broader European auto market.

But gross sales of electrical automobiles within the area have been sturdy, rising 101.4% from 2019 to 115,888.

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Renault final yr introduced plans to chop about 15,000 jobs, shrink manufacturing and restructure French crops in a bid to avoid wasting 2 billion euros.

Like its Japanese alliance associate Nissan, Renault is rowing again on an aggressive growth plan pursued by Carlos Ghosn, its former boss-turned-fugitive.

The pair have been among the many weakest world automakers going into the COVID-19 disaster, missing a transparent plan for utilizing their alliance to emerge from the hunch and share the burden of investing in electrical automobiles and different know-how.

Renault shares have been up 0.7% in early buying and selling in Paris after the gross sales figures have been launched.

(This story has not been edited by NDTV workers and is auto-generated from a syndicated feed.)

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