Groupe Renault has just published its financial statements. Falling sales and lower earnings as a result of the pandemic left a negative mark on the accounts. The results for the second half of 2020 with a profit of 3.5% and a positive cash flow mark the first step in Group Renault's recovery.
In total, Groupe Renault lost 8 billion euro in 2020 - a large part of this deficit does not actually come from Renault, but rather from Nissan. They presented a deficit of almost 5 billion euros for 2020.
On the positive side, it can also be mentioned that Groupe Renault maintains its leadership within electric cars in Europe. Groupe Renault will continue with the implementation of the new plans that in 2023 will ensure positive earnings.
Luca de Meo has been at the helm of Renault for just three months - after eleven years in the Volkswagen Group. Luca de Meo promises that by 2025, Renault will have electrified half of its fleet and be climate-neutral by 2050.