French automaker Renault cuts revenue outlook for 2019

French automaker Renault on Friday lowered its outlook for revenue for 2019, due to declining demand and challenging conditions in the auto industry.

Renault said it expects now that the business figure for 2019 be close to last year 's level, down from the company' s revenue forecast for the year. ;last year.

The global auto industry has been affected by the slowdown in the Chinese economy and by a trade dispute between Beijing and Washington.

Earlier this week, Renault's Nissan partner unveiled its largest restructuring plan in a decade, while Aston Martin reduced its volume forecast for 2019.