Paris (AFP)
Renault will produce less, be more economical and target only profitable markets to restore its margins, the group announced Thursday as part of its "Renaulution" plan.
The group will apply a "strict discipline in terms of costs", announced Renault in a statement preceding a press conference.
The savings plan announced in May, of more than 2 billion euros over three years and providing for some 15,000 job cuts worldwide, is completed "in advance".
It will be extended to 2023 to reach 2.5 billion euros in savings, with a target of -3 billion euros by 2025.
The group will also scale up its industrial capacity from 4 million units in 2019 to 3.1 million units in 2025. It will rationalize its production, going from 8 to 4 engine families and from 6 to 3 platforms (chassis ).
The group is now targeting an operating margin of 3% by 2023, with a reduction in research investments from 10% to 8% of turnover, and a 5% margin by 2025.
"This new organization will create a rebalanced and more profitable product portfolio with 24 launches by 2025 - half of which in the C / D segments (compacts and sedans) - and at least 10 electric vehicles".
The group has clarified its intentions for its four brands.
Renault will embody "modernity and innovation" and will attempt an "offensive" in the compact segment.
The Losange sees itself as a "leader in electrification" in 2025, with a gigantic "electro pole", "potentially in the north of France".
Half of the launches in Europe will be electric vehicles, with also a large offer of hybrids and hydrogen utilities.
The economy brands Dacia and Lada will reduce their range from 18 body types to 11. Seven models will be launched by 2025, two of which will target the compact segment.
The Alpine brand, which brings together Alpine cars, Renault Sport and the group's sports activities, will aim to be profitable in 2025. It will launch new 100% electric vehicles based on the platforms of the Renault-Nissan Alliance, including a new electric sports car with the British brand Lotus.
Mobilize, Renault's new brand of mobility services, will offer four adapted vehicles: two for carsharing, one for service with a driver, one for delivery.
Mobilize aims to generate 20% of the group's revenues by 2030, through partnerships and new financing solutions such as subscription.
Internationally, the Renault group will focus "on high-margin markets", particularly in Latin America, India and Korea, and strengthen its presence in Spain, Morocco, Romania, Turkey and Russia.
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