Renault claims it may disappear if slump continues

Renault’s chief executive has warned that the French carmaker could disappear “in its current form” if it is unable to be competitive at home as European car markets face a lasting slump.

Renault would also not be able to avoid cutting jobs if the market’s decline proves to be deep and lasting, Carlos Ghosn said during yesterday’s Paris car show.

He said: “Each company is tied to its home country. I do not know of any company that can be viable, that can prosper from a base that is not competitive. A company needs a natural base, Renault’s natural base is France.”