Economy, trade & finance: Renault is more confident

Renault had made a record loss of 8 billion euros in the Corona crisis in 2020. The pandemic exacerbated existing home-made problems – de Meo had started to get the French returns back on track. The increasing car prices on the market are accommodating the car manufacturer, de Meo expects further price increases.

The lack of chips will continue to weigh on business throughout the year that has just begun, said de Meo. “There will be turmoil throughout the year, with the first half of the year being the worst,” said the manager. According to him, the situation should not be worse in 2022 than last year. According to de Meo, Renault was unable to build around 500,000 cars as planned last year due to delivery problems with electronic components.

At the height of the crisis, Renault was granted a state-backed credit line of five billion euros. The company had taken four billion of this and already paid back one billion. CFO Clotilde Delbos wants to repay another billion euros this year. In 2024, the loan should be completely paid off.

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