Renault acknowledged serious financial problems
Renault acknowledged serious financial problems that led to a decline in stock value after the departure of CEO Luca de Meo. Renault reported that free cash flow was only 47 million euros, hundreds of millions lower than analysts' expectations. Car sales also fell short of expectations. Following this news, Renault's shares dropped by 18%. The company intends to take measures to reduce costs. Whether this will affect the Alpine F1 team owned by the company remains unknown.
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Renault acknowledged serious financial problems
Renault admitted serious financial problems, leading to a decline in stock value after the departure of CEO Luca de Meo.