Business

Carmaker Renault posts record $9.7 billion loss for 2020

PARIS (Reuters) – Renault reported a record 8 billion euro ($9.68 billion) loss for 2020 as the COVID-19 pandemic hit sales and production at the French carmaker and its Japanese partner Nissan.

Renault was already reeling from a 141 million euro loss in 2019 before the pandemic hit.

Analysts polled by Refinitiv had expected a 7.4 billion euro loss for 2020. ($1 = 0.8269 euros)

(Reporting by Gilles Guillaume and Sarah White; Editing by Devika Syamnath)

Read the original article on Business Insider

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