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Renault lowers forecast | DiePresse.com



car manufacturer. The French company expects a decrease in sales, the proportion decreased in the double-digit percentage range.

Boulogne-Billancourt. The weakened demand outweighs French car manufacturer Renault stronger than previously expected. After the former management buried their hopes for an increase in sales in July, the new leadership team expects a decline.

Profit is likely to fall by 201 to three percent in 2019, the company said on Thursday night in Boulogne-Billancourt near Paris. In addition, only about five instead of six percent of revenue would remain as operating profit in the Group. The economy was less favorable than expected, it said. Previously, sales had been in line with the previous year.

Shareholders reacted frightened that the stock was in two digits on Friday afternoon. Competitors such as BMW, Daimler and VW have been temporarily pulled down. German car manufacturers present their quarterly balance sheets in the coming weeks.

During the third quarter, Renault's sales decreased 1

.6 percent from the previous year to EUR 11.3 billion. Adjusted, the decline would have been 1.4 percent. Renault wants to publish additional figures for the third quarter on October 25.

While the industry is struggling with sales difficulties worldwide, the French group is particularly concerned by the markets in Turkey and Argentina. In July, Renault had closed its forecast due to the weak auto economy and for 2019 instead of growth only from the previous year's point of view.

New boss lows latte

Just last week, Renault dismissed its CEO, Thierry Bolloré. The interim successor was the former CFO, Clotilde Delbos. Bolloré had led the business at Renault, had already been number two under former CEO Carlos Ghosn and had been considered crown prince. Ghosn resigned in January. The successor Delbos had taken advantage of the forecast and lowered hours of advantage to make his own start easier, commenters from North LB. "Something like that wouldn't surprise us in the coming weeks at BMW." Jefferie's industry experts explained that they were not surprised by the decrease in the actual level of the report, but by the amount. (DPA / Reuters) [19659009]
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