French automaker Renault has appointed former Mercedes-Benz vice president Katrin Adt as managing director of its low-cost Dacia brand, the company announced Monday. Adt succeeds Denis Le Vot, who was considered a frontrunner for the Renault CEO role and will now leave the company.

Renault (RENA.PA) shares tumbled as much as 17% on Wednesday after the French automaker cut its 2025 guidance and announced an interim chief executive, citing weaker-than-expected sales and a slowdown in the European market.

By Asif Aydinli

According to Data Bridge Market Research , the global hybrid vehicle market is expected to grow in the period from 2022 to 2029. It is believed that the average annual growth rate of the hybrid vehicle market will be 12.83% during this period. In Europe, this figure will be 6.25%. Considering this figures, it is worth noting that Europeans admit that consumers are returning to petrol-driven models, and states are contemplating changes to policies that stimulate the production of electric vehicles.