Renault into the red after spending big

11-09-2019 17:28 | Updated: 11-09-2019 18:06
by Tom Mason
General
Renault into the red after spending big

It's been revealed that Renault has gone into the red after spending big on certain things last year such as win bonuses. The team fell from a £1 million pre-tax profit the previous year to a £7.8 million loss in 2018.

The Oxfordshire based teams ended up fourth in the constructors' championship last season as costs went up from £18.6 million to £152.3 million as the team looked to improve it's Chipping Norton factory.

The fourth-place finish in 2018 was their best result as a team since they returned to the sport as Renault.

Their best result since returning to F1 came as recently as last weekend when Australian driver Daniel Ricciardo secured a fourth-place finish, narrowly outside of the podium.

The Aussie joined the team for this season, signing for a reported £22 million a year and they'll be looking for better results as the season draws towards a close.

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