Renault Says Pandemic Pushed It Into Record Loss In 2020

WHAT?

French automaker Renault said Friday it booked a record loss in 2020 as the coronavirus pandemic hit its performance and looked set to weigh on the outlook this year as well.

HOW?

Renault said in a statement that it recorded a net loss of 8.05 billion euros ($9.7 billion) last year, compared with a bottom-line profit of 19 million euros in 2019.

Renault said that its Japanese partner Nissan, in which it holds a 43-percent stake, accounted for 4.9 billion euros of the loss.

Renault said in a statement that it recorded a net loss of 8.05 billion euros ($9.7 billion) last year, compared with a bottom-line profit of 19 million euros in 2019. Renault said that its Japanese partner Nissan, in which it holds a 43-percent stake, accounted for 4.9 billion euros of the loss.

However, "2021 is set to be difficult given the unknowns regarding the health crisis as well as electronic components supply shortages."