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RENAULT

(RNO)
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Renault : Global chip shortage, COVID-19 pandemic weigh on French car market rebound

08/01/2021 | 04:54am EDT
Stocks of new cars are parked in a lot, at Walon France automobile transport company in Hordain

PARIS (Reuters) - The global chip shortage and a new surge in COVID-19 infections are weighing on the prospects for a strong rebound by the French car market, the carmakers' lobby CCFA-PFA said on Sunday.

The French association was until now betting on car sales growth in the range of 9-10%, but that could be toned down, a spokesperson for CCFA said.

"We think it might be difficult to achieve 1.8 million of sales this year," the spokesperson said.

Last year, new French passenger car registrations fell to 1.65 million from 2.21 million in 2019 as the coronavirus pandemic brought car factories to a halt.

A lack of crucial semiconductors and uncertainty surrounding the novel coronavirus pandemic are affecting most automakers, including French carmaker Renault and its Franco-Italian arch-rival Stellantis.

New car registrations in France plummeted by about 35% in July from the same period a year ago, according to data issued by CCFA-PFA late on Saturday.

Registrations of new passenger vehicles totalled 115,713 last month, CCFA said. The French car market is up by about 16% over the first seven months of the year compared with the same period in 2020, the association said.

(Reporting by Gilles Guillaume; Writing by Mathieu Rosemain; Editing by Louise Heavens and Toby Chopra)


© Reuters 2021
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Financials
Sales 2021 48 545 M 56 928 M 56 928 M
Net income 2021 667 M 782 M 782 M
Net Debt 2021 2 933 M 3 439 M 3 439 M
P/E ratio 2021 12,1x
Yield 2021 0,13%
Capitalization 7 816 M 9 174 M 9 165 M
EV / Sales 2021 0,22x
EV / Sales 2022 0,17x
Nbr of Employees 170 158
Free-Float 61,0%
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Number of Analysts 19
Last Close Price 28,76 €
Average target price 43,98 €
Spread / Average Target 52,9%
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Luca de Meo Chief Executive Officer
Clotilde Delbos Chief Financial Officer, Deputy CEO & Executive VP
Jean-Dominique Senard Chairman
Luc Julia Chief Scientific Officer
Frédéric Vincent EVP-IS Information Technology & Digital
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