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7/30, 7:38 AM (Source: TeleTrader)
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Renault's global sales plunge 35% in H1

Renault SA said on Thursday its sales in the first half of 2020 plunged 35% to 1.26 million vehicles and its revenue dropped 10% year on year to €18.4 billion due to the coronavirus outbreak.

The carmaker's net loss in the six month period amounted to €7.3 billion, compared to a net income of €1 billion achieved in the first half of 2019 and loss per share stood at €26.91.

Renault also stressed it is unable to provide reliable guidance for 2020 due to the coronavirus pandemic uncertainties, but confirmed its target to achieve €600 million of cost reduction this year.

Breaking the News / NP