Renault foresees production drop by half a million cars

French automobile group Renault announced forecasts for the end of financial year 2021, according to which a drop in production of half a million vehicles is calculated, compared to the previous year.

After a significant setback during the third quarter, with 170 thousand vehicles less than expected, company’s financial director, Clotilde Delbos, predicted an even more complicated end of the year due to the lack of components for manufacturing, mainly semiconductors.

‘The measures taken to further reduce costs and optimize the value of our production allow us to confirm our forecasts for the year, despite the deterioration in component availability in the third quarter and the reduction in visibility for the fourth quarter’; the manager said.

Renault sold almost 600 thousand units between July and September, which is 22.3 percent less than in the same period last year, due to the significant drop in production and the closing of many factories around the world due to shortage in electronic components.