2011 Renault and PSA, settled debts with the French government

Renault and PSA have paid all the debts they had with the French Government, by reimbursing the last part of the loan of six billion euro, which was granted by the government in 2009 for manufacturers to deal with the crisis in the automotive industry. Having returned two thirds of the loan of 3 billion euro each last fall, Renault and PSA , have repaid the loan by Sarkozy.


To cope with the economic crisis that hit the car world in April 2009 the government had granted to the two manufacturers with a total loan of 6 billion euro, created a fund of 600 million euro for the set up and led a program of incentives for scrapping , to support the demand for new cars . A costly program, it would be about 8 billion euro, but has allowed the State to collect interest on the loan for about 715 million euro and the economy of the area automotive .

According to those who are the figures released by the French Ministry of Economy, which have also been reported by Sole 24 Ore, in 2009 the French market grew by 10.6%, against a drop of 1, 6% European. Last year, car production rose by 8, 6%, with 2.2 million cars produced and the balance of the two manufacturers was positive : the Renault has produced 3.5 billion of profits, the PSA group about 1 , 1 billion. A move in the long run with a sacrifice necessary to start, proved a winner. This is the actual demonstration that the French government in this case we saw along .