Raise your hand if you have never rented a Hertz car before. From now on he won't be able to do it anymore because the global car rental giant went bankrupt and, under the blows of the pandemic, filed for bankruptcy in the United States and Canada. "The impact of Covid-19 on travel demand - explains an official note from the house - was sudden and dramatic, with a sharp drop in revenue and future bookings".
On April 21, Hertz had already cut 10 jobs in North America, equal to 26,3% of the entire world workforce, in an attempt to preserve liquidity, but it was not enough to save it.
But in the automotive field, big clouds are also gathering over the French colossus of Renault, to which the president Macron has prevented the marriage with FCA in a vain attempt to save the alliance with the Japanese of Nissan, who are now in full crisis and just yesterday announced 20 redundancies. The alarm is high and yesterday the French Minister of the Economy, Bruno Le Maire, was clear: "Survival is at stake for Renault".
Renault, that if it will survive it will be led from July by the Italian Luca De Meohas already closed three factories and started the conversion of a fourth. "We need to act urgently" added Le Maire who explained: "I have never hidden the seriousness of the current crisis and I do not hide the seriousness of the situation of Renault" which last year had already closed its balance sheet in the red for the first time in ten years.
The French government has not yet signed the 5 billion euro loan to Renault which it subjects to three conditions: development of the electric car, compliance with commitments with suppliers and leading technological activities. Renault will present next Wednesday the new industrial plan with the Japanese allies of Nissan and Mitsubishi which has the taste of the last resort even before De Meo has had time to take the lead.
