French automaker Renault said today that it has suffered an unprecedented loss in 2020 due to the coronavirus (CCP) pandemic, and expects this year’s situation to be affected by the Epidemic.
Renault issued a statement that last year’s net loss of 8.05 billion euros (about 9.7 billion U.S. dollars); in contrast, 2019 net profit of 19 million euros.
Renault pointed out that the amount of losses, by Renault’s 43% stake in The Japanese partner Nissan (Nissan) accounted for 4.9 billion euros.
Renault’s full-year revenue fell 22 percent to 43.5 billion euros; sales around the world fell 21 percent to 2.95 million vehicles.
However, Renault said that “after experiencing the impact of 2019 coronavirus disease (COVID-19) in the first half of the year, the Group’s performance has been significantly reversed in the second half of the year.”
“The second-half results…represent the first step in the Group’s recovery,” said Chief Executive Officer Luca de Meo.
“(However) conditions are expected to remain difficult in 2021 due to the unknowns of this health crisis and the shortage of electronic parts supply.”
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