Renault stocks fall after a French car manufacturer reduces 2025 guide

Shares of a French car Rena On Wednesday, he plunged at 17% after the company reduced the 2025 management and announced the appointment of a new temporary chief executive.

Parisian actions were last seen as 15.6%traded, gaining a fresh 52-week minimum. It puts a campaign on the track for its worst trading day since March 2020.

In A Update trading Published at the end of Tuesday, Renault said it was aimed at the operating stock of about 6.5%this year, which is compared to the previous forecast around or exceeding 7%.

The company also strives for a free cash flow between $ 1 billion (1.16 billion) and 1.5 billion euros, which is earlier than or above 2 billion euros.

Renault too announced Appointment Duncan Minto by Temporary CEO after Luke de Meo sharp resignation Last month after about five years at the helm of the company.

“Currently, the financial director of the Renault Group, Duncan Minto will provide the daily management of the company together with Jean Dominiek Sedard, who during this period holds the post of chairman of the Renault SAS, the group’s operating campaign,” Renault said.

Renault is ready to report on its half -year results on July 31.

Analysts in Germany Deutsche Bank reduced the target price to 47 euros, which is compared to 55 euros, news about Renault profit.

“While the new margin management remains solid and compared to peers, we consider a warning as a clearly additional stroke for stock moods,” Deutsche Bank said in the research note.

JPMorgan analysts, meanwhile, said the new Renault Management structure will encounter additional muted demand in Europe, the constant trade and rise in competition from Chinese manufacturers.

– Jordan Batts CNBC contributed to this report.