RENAULT

Buses, Cars and Trucks France

Part VII – Restructuring (1981–1995)

1981

1982

1983

1983 Renault 25

1984

1985

Although its cars were somewhat successful both on the road and on the track, including the 1984 launch of the Espace – Europe’s first multi-purpose vehicle – Renault was losing a billion francs a month and reported a deficit of 12.5 billion in 1984. The government intervened and Georges Besse was installed as chairman; he set about cutting costs dramatically, selling off many of Renault’s non-core assets (including a minority Volvo stake, Gitane, Eurocar and Renix), withdrawing almost entirely from motorsports, and laying off many employees. This succeeded in halving the deficit by 1986, but he was murdered by the communist terrorist group Action Directe in November 1986. He was replaced by Raymond Lévy, who continued along the same lines as Besse, slimming down the company considerably with the result that by the end of 1987 it was more or less financially stable.

1986

1987

1988