Renault’s outlook cut to ‘negative’ by rating agency Standard & Poor’s

Renault logo

Credit rating agency Standard & Poor’s slashed its outlook on automaker Renault to “negative” from “stable”, citing wider challenges within the automotive sector that could affect its profits. “The negative outlook reflects the risk that Renault will be unable to return its EBITDA margin to 2017 levels (9%-10%) over the next two years given the […]

Nissan Motor to oppose having same chair as Renault SA

Renault-Nissan logo

Nissan Motor’s independent committee on governance is anticipated to recommend against the company having the similar chairman as Renault SA, the Financial Times reported on Wednesday, mentioning people knowledgeable about the discussions. Renault and its largest shareholder French state are pressing for Jean-Dominique Senard to take up the chairmanship at the Japanese automaker, the report […]

Nissan and Renault reaffirm alliance

Renault-Nissan logo

Though the talks about Nissan chairmanship were avoided Top executives from Nissan and Renault on Thursday reaffirmed the necessity of an alliance that has been pressured by removal of former Chairman Carlos Ghosn, but avoided discussing the potentially controversial issue of Nissan’s next chairman. The recently appointed chairman of France’s Renault SA, Jean-Dominique Senard, travelled […]

Renault embarks on post-Ghosn era with smaller profit goal

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Renault’s beginning of a new era Renault set a weaker full-year profit goal on Thursday, mentioning currency challenges and market uncertainties, as the French automaker presented annual results without its ousted CEO Carlos Ghosn for the first time ever in 13 years. Under new leadership since ouster of Ghosn, Renault targeted profitability of “around 6 […]

Renault’s Senard to meet Nissan CEO Saikawa this week

Renault-Nissan logo

Renault’s chairman will meet Nissan’s CEO this week in Japan as they look forward to cement their collaboration after the elimination of former alliance leader Carlos Ghosn, the Japanese automaker stated on Tuesday. Jean-Dominique Senard, named chairman of the French automaker last month, is going to visit Nissan’s headquarters located in Yokohama to meet the […]

Renault to alert prosecutors about Ghosn’s wedding costs

Attribution: Kaspars Garda,

Renault has discovered evidence that it paid part of ex-CEO Carlos Ghosn’s wedding costs and is planning to turn the investigation over to prosecutors, two weeks after the automaker’s eliminated Ghosn from the board. An internal investigation established that a 2016 sponsorship deal with the Chateau de Versailles consisted a 50,000 euro ($57,000) personal benefit […]

France denies report on Renault-Nissan stakes

Renault-Nissan logo

France’s finance ministry reject a report from Japanese news outlet Nikkei that the French government had told Tokyo it was open to consider reducing Renault’s stake in Nissan Motor. Contact by Reuters, an official stated the ministry “categorically denies” such report, which also noted the French government had raised the possibility of decreasing its stake […]

Renault should show ‘total transparency’: Bruno Le Maire

Renault Trezor, Paris motor show

French automaker Renault must show “total transparency” as it investigates its business practices, including a sponsorship deal stuck with the Chateau de Versailles, finance minister Bruno Le Maire stated on Thursday. “The audit into Renault has begin, it is beginning to bring out results, I had personally demanded that audit,” Le Maire added informed the […]

Renault-Nissan and Google to partner on self-driving cars

google self-driving car

The Renault-Nissan-Mitsubishi alliance will partner Alphabet Inc’s Google to develop autonomous taxis and other services using self-driving vehicles, the Nikkei reported. Google’s self-driving car company Waymo is going to work with the automakers and announce a strategy for the arrangement as early as this spring, the business daily reported. The partners are thinking about the […]

Renault-Nissan group sold most cars in 2018, but VW’s No.1 including trucks

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Volkswagen Group has hung on to its placement as the world’s top-selling car manufacturer for the fifth year in a row, although the German group was slipped by once again by the Renault-Nissan-Mitsubishi alliance in the light-duty automobiles sector. Renault SA, Nissan Motor and also Mitsubishi Motors together made 10.76 million passenger cars and light […]

France warns against ‘exorbitant’ payoff for Carlos Ghosn

Carlos Ghosn Renault-Nissan

France’s finance minister stated on Sunday a severance package for previous Renault chief Carlos Ghosn, forced to resign in a financial misconduct, should not be “exorbitant” and that the French state would follow the issue closely. Renault, which has now appointed a chairman and chief executive tandem to replace Ghosn, has not yet finalized its […]

Renault names new leaders following Ghosn’s resignation

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Renault appointed Michelin boss Jean-Dominique Senard as its new chairman on Thursday, after former chairman Carlos Ghosn was forced to resign following financial scandal that has deeply affected the French automaker and its alliance with Japan’s Nissan. Senard will become chairman immediately, the company stated, with deputy chief executive Thierry Bollore taking over Ghosn’s other […]

Paris informs that it wants Renault and Nissan to integrate

Renault-Nissan logo

A French government delegation has told Tokyo that it would seek an integration of Renault and Nissan, most probably under the umbrella of a single holding company, the Nikkei noted on Sunday. The delegation, which consisted French government-designated Renault director Martin Vial, also stated that it wanted to name Nissan’s next chairman, according to the […]