models areas: Renault was under pressure even before COVID-19 hit, posting its first loss in a decade in 2019, and has said nothing would be taboo as it reviews its business, according to The Japan Times. It plans to trim its global capacity to 3.3 million vehicles in 2024 from 4 million now, focusing on its most profitable models and areas such as electric cars while freezing manufacturing expansion in countries like Romania. Faced with a slump in demand that has been exacerbated by the coronavirus pandemic, the French carmaker detailed plans on Friday to find 2 billion 2.22 billion in savings over the next three years. ; We thought too big in terms of sales, said interim Chief Executive Clotilde Delbos, adding the company was coming back to its bases after investing and spending too much in recent years. RELATED ties more crucial than ever as pandemic rocks carmakers Nissan and Renault unveil steps to cut costs and revamp alliance Spain says it will do all it can to reverse Nissan closure amid protests Nissan falls behind rivals in industry's critical transitional period Renault, like its Japanese alliance partner Nissan, is rowing back on an aggressive expansion plan pursued by Ghosn, its former boss-turned-fugitive, who is wanted on charges of financial misconduct in Tokyo. The mindset has completely changed. Ghosn denies the charges.
(news.financializer.com). As
reported in the news.
Tagged under models areas, plans topics.