Hyperdrive
Renault Lifts Profit Goal on Optimism Chip Supplies Will Improve
- Carmaker puts auto production shortfall at 300,000 in 2022
- CEO de Meo says situation will get better in the second half
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Renault SA lifted its financial outlook for 2022 as the struggling French carmaker’s turnaround efforts take hold and the supply of semiconductors needed to make cars looks set to improve.
Renault forecast Friday an easing of the chip supply constraints that have been a major roadblock in keeping assembly lines moving. The company is expecting shortfalls to shave production by 300,000 vehicles this year compared with around 500,000 in 2021.