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Companies

Renault sets lower profit goal in crunch reboot year

Automaker posts first loss in a decade as Nissan's contribution shrinks

French carmaker Renault cut its proposed dividend for 2019 by almost 70% from a year earlier as it struggles to get back on track after turmoil among senior management.   © Reuters

PARIS (Reuters) -- French carmaker Renault on Friday posted its first loss in 10 years and set a lower operating margin goal for 2020, a crunch year for its planned reboot alongside partner Nissan after a scandal surrounding former boss Carlos Ghosn.

The company is trying to move past internal turmoil with a management shake-up, but it is also grappling like some peers, including Japan's Nissan, with tumbling auto demand in some key markets like China.

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