With the coronavirus pandemic stopping the auto industry, there will be serious repercussions. Sales are inevitably declining, jobs are being cut and some auto companies may even close. According to Reuters, the pandemic could lead to the closure of one of the main French car manufacturers: Renault. Renault and Nissan, which have been part of a car alliance for two decades, will make an announcement next Wednesday on the future of Renault.
To help Renault’s financial situation during the crisis, the French Minister of Finance, Bruno Le Maire, plans to grant the French manufacturer a loan of 5 billion euros, but has warned that the future of the company is looming dark. “Yes, Renault could disappear,” he said on Europe 1 radio.