Renault posts record $9.7 bn loss in 2020, warns 2021 may be difficult too

Renault posts record $9.7 bn loss in 2020, warns 2021 may be difficult too

French carmaker Renault posted a record full-year loss of $9.7 billion in 2020 due to the COVID-19 pandemic. However, the company’s operating margin had improved to 3.5% in the second half of 2020. CEO Luca de Meo said that 2021 may also be difficult as its production may be reduced by about 100,000 vehicles due to the global chip shortage.

News source : Reuters

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