Renault prepares for a makeover as a slimmer automaker under De Meo By Reuters

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PARIS (Reuters) – The new CEO of French automaker Renault (PA :), Luca de Meo, is set for his first major test on Thursday with a reset of the strategy aimed at raising the margins of the loss-making company, and which will likely focus on fewer, more profitable models. The update for analysts and investors is the first look at De Meo’s full vision for Renault after taking the reins last July, amid the coronavirus pandemic, following a stint at Volkswagen’s Seat brand (DE 🙂 . Four years after former boss-turned-fugitive Carlos Ghosn unveiled his bombastic vision for Renault, based on expanding car volumes globally, De Meo has already signaled a change of course. The group is likely to come out of some unprofitable countries or markets, and has yet to reveal the range of cars it wants to attract customers with over the next three to eight years. The French automaker, which was struggling with declining sales even before the COVID-19 crisis and has been trying to get a partnership with Japan’s Nissan (OTC 🙂 back on track, already has cost cuts in place for restart the business. Renault is expected to put the blame on electric vehicles, sources close to the matter said, including some of its brands like sports car maker Alpine, and reviving some of its now-defunct successful models from the 1960s to the 1990s. .

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