Renault CEO Luca de Meo mentioned the French carmaker expects to make 300,000 fewer items in 2022 than it probably may have because of the continued world chip scarcity.
Renault made 500,000 fewer automobiles final 12 months because of the chip scarcity. In September, consulting agency AlixPartners predicted the chip scarcity would price the auto business $210 billion in income.
“The state of affairs proper now remains to be fairly sophisticated,” de Meo informed CNBC’s Avenue Indicators Europe Friday.
De Meo mentioned that Renault expects the chip crunch to change into much less extreme this 12 months, including {that a} “regular state of affairs” ought to resume within the second half of 2022.
His feedback got here as Renault reported an 888 million euro ($1 billion) web revenue for 2021 on Friday, beating estimates. The carmaker claims its working margin of three.6% places it two years forward of its personal “revolution revitalization” plan. “Renault is again on monitor,” de Meo mentioned.