FILE PHOTO: The logo of French car manufacturer Renault is seen at a dealership of the company in Bordeaux, France, June 12, 2019. REUTERS/Regis Duvignau/File Photo
PARIS (Reuters) – French carmaker Renault (RENA.PA) on Friday cut its 2019 revenue outlook, on the back of falling demand and tough conditions within the automotive industry.
Renault said it was now expecting 2019 revenue to be close to last year’s level, down from its previous full-year revenue guidance.
The global auto industry has been hit by China’s slowing economy and a trade dispute between Beijing and Washington.
Earlier this week, Renault’s partner Nissan (7201.T) unveiled its biggest restructuring plan in a decade, while Aston Martin (AML.L) cut its 2019 volumes forecast.
Reporting by Gilles Guillaume, Laurence Frost and Sudip Kar-Gupta, Editing by Sherry Jacob-Phillips