Renault shares fall 16.8% after 2025 forecasts cut

Paris-listed Renault shares fell more than 16% on Wednesday after the company lowered its 2025 forecasts and appointed a new interim chief executive.

According to Reuters, the French carmaker said in a statement that it is targeting an operating profit margin of around 6.5% this year, down from a previous forecast of around 7% or more. It is also targeting free cash flow of between €1 billion ($1.16 billion) and €1.5 billion, down from €2 billion previously.

Renault also announced the appointment of Duncan Minto as interim chief executive, following the sudden resignation of Luca de Meo last month after nearly five years at the helm. The company is scheduled to report its financial results for the first half of 2025 on July 31.