Renault Reports Record $8 Billion Loss

Renault SA’s alliance with Nissan Motor Co. is showing increasing strain, with the Japanese partner mostly to blame for the French carmaker’s record 7.29 billion euro ($8.58 billion) first-half loss.

Nissan alone accounted for 4.8 billion euros of that amount, including 4.29 billion euros of impairments and restructuring costs, the automaker said. Renault refrained from giving any financial guidance for the full year because of uncertainty around the coronavirus pandemic, though it said it is on track for cost savings and would put forth a turnaround plan in January.