French car manufacturer Renault is soon to announce that it is being forced to cut costs by 2 billion in response to a drop in demand due to the coronavirus pandemic. The automotive sector has been hit hard by lockdown measures with sales of new cars in Europe – Renault's biggest market – dropping 40 per cent in the opening quarter of 2020, whilst April has seen a sharp decline of almost 80 per cent. A board meeting has been scheduled in which it's expected Renault – which is part-government owned – will announce major cut backs with reports it will close up to four factories across France, including its newly upgraded Dieppe Plant which produces the A110, a model in the relaunched...
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