MMC has been implementing structural reforms in Europe in line with the “Selection and Concentration” strategy in its mid-term business plans announced in July 2020. It has already frozen the development of new car models for European markets while concentrating its research and development resources and investments on the ASEAN region, where MMC is competitive. As part of those overall structural reforms, MMC has been focusing on optimizing the prices of its model line-up, improving its logistics and fixed costs, and seeking the possibility to realize further efficiency in operations. The company has also decided to end new car sales business in some European countries, by 2023.
This movement with Groupe Renault is a part of the business reform in Europe, under which MMC seeks to meet customers’ demand.