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Renault Takes the Long Road Back to Pre-Pandemic Profitability

  • Carmaker targets at least 5% group operating margin by 2025
  • CEO De Meo navigating weak sales, electric shift, high costs
Renault SA Reveals New Electric Car Lineup After Squandering Lead
Photographer: Benjamin Girette/Bloomberg
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Renault SA set cautious goals to gradually return to pre-pandemic earnings performance, reflecting the challenges Chief Executive Officer Luca de Meo will have turning around the struggling French carmaker.

The company is targeting an operating margin of more than 3% by 2023 and at least 5% by mid-decade, according to a statement Thursday. This compares with a 4.8% return in 2019, before the manufacturer racked up record losses in the midst of the health crisis.