Renault shares decrease after the French car maker reduces the directives of 2025 star-news.press/wp

French car maker shares Renault Up to 17 % on Wednesday after the company reduced its directives to 2025 and announced the appointment of the new temporary CEO.

The last time was seen in the stocks listed in Paris by 15.6 % trading, and got the lowest new level for 52 weeks. It places the company on the right track for its worst trading day since March 2020.

in Trading update Renault was published late on Tuesday, that it targets an operating margin of about 6.5 % this year, down from previous expectations of about 7 %.

The company also aims to obtain a free cash flow between one billion euros ($ 1.16 billion) and 1.5 billion euros, a decrease from approximately two billion euros.

Renault also Declare Denkan Minto was appointed as a temporary executive head, after the sudden resignation of Luka de Mio last month after about five years at the head of the company.

“It will currently guarantee CFO from Renault Group, Duncan Minto Daily Management of the company alongside Jean-Dominique Senard, who will be the president of Renault Sas, the group’s operational company, during this period,” Renault said in a statement.

Renault is preparing to report its results half a year on July 31.

Analysts in Deutsche Bank in Germany reduced its target price to 47 euros, a decrease from 55 euros, on Renault profit warning news.

“While the new margin guide also remains strong for peers, we see the warning as an additional, clear blow to the feelings of stocks,” Duetsche Bank analysts said in a research note.

At the same time, analysts at JPMorgan said that the new management structure of Renault will face more challenges from silent demand in Europe, continuous commercial tensions and increasing competition from Chinese manufacturers.

– BUTTS Jordan in CNBC contributed to this report.