Renault sees 2021 profit despite chip crunch, raw material costs
By Nick Carey
Reuters
LONDON (Reuters) -French carmaker Renault said on Friday it expected to deliver a full-year 2021 profit even as a global shortage in semiconductor chips and rising raw material costs crimped car production.
Renault said it now expects the chip shortage to lead to a production loss of 200,000 units over the course of 2021, up from its previous forecast of a loss of 100,000 units.
The carmaker posted a half-year net profit versus a hefty loss for the same period in 2020 due to rising car sales and a turnaround plan focused on profitability.
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