Renault F1 Team Massively Reduces Losses From £57M In '15 To £3.3M In '16

The Renault Formula 1 team posted "much improved financial figures" for the first season under the French manufacturer’s renewed ownership, "with income up and losses substantially reduced," according to Adam Cooper of MOTORSPORT. Having lost £57M in its last year under the Lotus name in '15, the Enstone team reduced that to £3.3M in '16, when it finished ninth in the world championship. In addition, turnover rose from £78.4M to £119.7M, representing a year-on-year increase of £41.3M, or 52.7%. Renault’s program of "investment in rebuilding after the lean Lotus years is reflected" in an increase of £12M on cost of sales, "while fixed assets have increased" by £11.8M (MOTORSPORT, 5/17).