"Renault is playing its survival" . With this shocking sentence, Bruno Le Maire, the Minister of the Economy, had the merit of posing the challenge. The history of the industry is full of episodes of this nature. Before Renault, other manufacturers have passed very close to the abyss: General Motors and Chrysler in 2009, PSA in 2013, or even Opel in 2017. These precedents prove that the rebound is not only possible, but that it can be dazzling. But the resurrection presupposes a horse remedy.
Read also: Renault announces a "vital" plan to restore its finances
General Motors, weakened by mediocre performances then struck by the financial crisis, for example suffered a shock treatment in 2009 with a deletion of its debts through an express bankruptcy, the closure of 14 factories in the United States and the a quarter reduction in its workforce.
"Race to volumes"
Is the plan announced by Renault on Friday up to the challenge? In its objective, yes. The targeted reduction of 20% of its fixed costs, or 2 billion euros, is radical. The tempo is less so, social tradition
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