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Renault hoping to make more money from its Arkana model

Renault hoping to make more money from its Arkana model

PARIS (Reuters) – French carmaker Renault said on Thursday it was hoping to make more money from its Arkana model, as it unveiled a broad-based strategy programme aimed at improving its sluggish business performance.

Renault said it was aiming to raise the average turnover per unit of its Arkana model to 30,000 euros ($36,153), from 15,000 euros at present.

Last month, Renault reported that its sales had fallen for a fifth straight quarter as it struggled to shrug off the fallout from the COVID pandemic without a major presence in booming Chinese markets, while a global shortage of electronic chips also hit production.

Under Chief Executive Officer Luca de Meo, who took the reins last July, Renault is looking to produce fewer cars and focus on those with higher margins, and this strategy is starting to bear some fruit despite weak overall results.

($1 = 0.8298 euros)

(Reporting by Gilles Guillaume)

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