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Coronavirus accelerates car industry restructuring
The car industry is going to undergo massive restructuring, with Renault shedding 15,000 jobs.
This is the result of the coronavirus, but also a tacit admission that the nature of the sector is changing, with the company planning to focus on the most profitable models. This is also likely to mean a shift towards small vans and electric cars.
Another day, another bailout: this time, the French government is seeking to help car manufacturers, and encourage them to become the leading manufacturer of clean vehicles in Europe.
This comes in addition to a separate bailout package for Renault, and is seen by many as trying to reposition the sector, not least in the wake of Brexit.
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