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Renault set to cut costs by 2bn, will their F1 team escape the chopping block?
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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3y ago from MotorsportWeek.com
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