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Renault warned of a drop in its turnover this year, renouncing a previous goal, after the first half earnings were affected by the drop in demand for cars and the collapse of the Nissan's partner in the alliance following the scandal Carlos Ghosn.
The French automaker said its net profit had shrunk by more than half, setting in at 970 million euros (about $ 1.08 billion) between January and June, with a figure of over $ 2 billion. business down 6.4% to 28.05 billion euros.
Operating profit decreased 13.6% to 1.65 billion euros.
"Given the decline in demand, the group is now expecting revenues for 2019 to be close to those of last year," Reno said, giving up a previous promise to generate revenue. earnings before the impact of the currency.
A mbadive drop in car sales has disrupted the sector, raising caveats on profits and raising challenges for Renault and Nissan, facing difficulties in replicating the Ghosn era. The former president of their alliance is now awaiting trial in Japan for financial irregularities that he denies.
Renault's profit was affected by a decline of € 826 million from its partner, in which Renault holds 43.4%. Nissan cuts 12,500 jobs worldwide after profits plummet.
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