Renault S.A.·Consumer Cyclical

Renault SA will cut engineering staff by between 15% and 20% over the next two years, a spokesperson said on Tuesday, in a bid to improve agility and become more robust.

French car maker Renault Group's Chairman Jean-Dominique Senard will not seek a new term at the end of his current term in spring 2027, a source close to the matter told Reuters on Wednesday.

Renault remains a buy following its 'futuREady' Strategy Day, which reinforced my confidence in its medium-term targets. Management reaffirmed a 5%-7% operating profit margin goal and annual €400 per-vehicle cost reductions. The company has adopted a progressive dividend policy, supported by its targeted free cash flow growth from 2026's €1.0B to €1.5B for the intermediate-term.

The French carmaker said it plans to launch 36 new models by the end of this decade, as it looks beyond Europe to drive growth.

Renault plans to sell half of its Renault brand cars overseas by 2030 and grow volumes by over a fifth, it said as it unveiled a five-year strategy aimed at remaining competitive in a tough global market.

Renault said it would acquire Volvo AB's 45% stake and CMA-CGM's 10% stake in electric-van joint-venture Flexis for an undisclosed sum.
Renault SA designs, manufactures, sells, and distributes vehicles in France and internationally. The company operates through Automotive, AVTOVAZ, Sales Financing, and Mobility Services segments. It offers passenger and light commercial, and electric vehicles primarily under the Renault, Dacia, Renault Samsung Motors, Alpine, LADA, Jinbei & Huaasong, and Eveasy, as well as under the Nissan, Datsun, and Infiniti brands. The company also sells powertrains and used vehicles, and spare parts; and provides various services, including vehicle sales financing, rental, maintenance, and service contracts. In addition, it offers finance for the purchase on inventories of new and used vehicles, and replacement parts; designs, produces, and sells converted vehicles; Renault EASY CONNECT for Fleet, a connected service for business users; and produces driving aids, such as steering-wheel mounted accelerators and brakes, multifunction remote control units to operate indicators, lights and horns, pedal transfers, etc.; and manual or electric swivel seats. Renault SA was founded in 1898 and is based in Boulogne-Billancourt, France.
Consumer Cyclical
Auto - Manufacturers
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2012-08-03
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