Renault raises output loss forecast for 2021 amid semiconductor chip crisis

Friday, 22 October 2021 15:19:17 (GMT+3)   |   Istanbul
       

French automaker Renault has announced that its sales revenues in the third quarter this year amounted to €9 billion, down by 13.4 percent, while its global sales decreased by 22.3 percent to 599,027 vehicles, both year on year. The decreases are due to the semiconductor chip crisis and production shutdowns.

Renault estimates its production loss for the third quarter at around 170,000 units, due to the lack of components. The automaker said that it anticipates a loss close to 500,000 vehicles for the year, compared to 200,000 vehicles in the previous forecast in early September.

Renault stated that, despite the increase in estimated production losses for the year, it confirms its guidance to reach a full-year operating margin rate of the same order as the rate of the first half. The company is also aiming to achieve a positive automotive operational free cash flow for the fiscal year.


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