In the News

Coronavirus accelerates car industry restructuring

Graham Watson

30th May 2020

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.

Graham Watson

Graham Watson has taught Economics for over twenty years. He contributes to Tutor2U, reads voraciously and is interested in all aspects of Teaching and Learning.

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