Renault Samsung Motors Corp., the South Korean unit of Renault S.A., said Monday it will suspend its sole plant for 11 days, as the coronavirus outbreak has affected production and sales.The carmaker stopped the Busan plant for four days in February due to lack of parts from its Chinese suppliers as the COVID-19 outbreak hit supply chains.This month, the company’s 1,700-member union voted to accept a wage freeze and cash bonuses of 8.88 million won (US$7,320) per person for 2019.
Tag: Renault
@Mitsubishi: Mitsubishi Motors Starts Production of Face Shields to Help Prevent the Spread of COVID-19 Infections
TOKYO, Apr 27, 2020 – (JCN Newswire) – To help prevent the spread of COVID-19 infections, Mitsubishi Motors Corporation (MMC) produces face shields to provide to medical institutions. Donating face shields to the city of Okazaki Production of approximately 1,500 face shields per month has started at the Okazaki Plant in Aichi Prefecture and other… Continue reading @Mitsubishi: Mitsubishi Motors Starts Production of Face Shields to Help Prevent the Spread of COVID-19 Infections
Japan’s Mitsubishi Motors predicts losses over pandemic
Japanese automaker Mitsubishi Motors Corp. says it expects to move into the red during the current fiscal year as sales plunge because of the coronavirus pandemic
VW Group’s Seat brand postpones China entry – Automotive News Europe
Seat officially signed an agreement to join the JAC Volkswagen venture in November 2018. At the time, Seat said. “JAC Volkswagen will introduce the SEAT brand by 2021, and jointly electrify SEAT products.” De Meo, who is slated to become CEO of Renault Group on July 1, said in a 2018 interview with Automotive News… Continue reading VW Group’s Seat brand postpones China entry – Automotive News Europe
UPDATE 1-Honda extends North America auto production halt through May 8
FILE PHOTO: The logo of Honda is seen during the 87th International Motor Show at Palexpo in Geneva, Switzerland March 8, 2017. REUTERS/Arnd Wiegmann WASHINGTON (Reuters) – Honda Motor Co (7267.T) said on Thursday it will extend a shutdown of its North American auto plants through May 8, while also extending unpaid leave for many… Continue reading UPDATE 1-Honda extends North America auto production halt through May 8
GROUPE RENAULT: Quarterly information – March 31, 2020
PRESS RELEASE#RenaultResults Groupe Renault’s revenues of €10,125 million in the first quarter of 2020 ·The Group sold 672,962 vehicles in the quarter, down -25.9% in a global market down -24.6%1. ·Group revenues reached €10,125 million (-19.2%) in the quarter. At constant exchange rates and perimeter2, the decrease would have been -18.3%. ·Renault’s Board of Directors decided on April 9,… Continue reading GROUPE RENAULT: Quarterly information – March 31, 2020
@Renault: AVTOVAZ announces a new appointment 2020 March
Effective beginning of March, 2020, Natalya Vasilyeva-Bernard, Director for Accounting and Reporting – General Accountant of JSC “AVTOVAZ”, was appointed Executive Vice President for Finance of JSC “AVTOVAZ”. Ms. Vasilieva-Bernard finished Moscow State University with accounting degree in transport, and has 25 years of experience in accounting and finance in Russian and French companies. Before… Continue reading @Renault: AVTOVAZ announces a new appointment 2020 March
Renault close to sealing state-backed loan as it burns through cash
French carmaker on verge of securing multibillion-euro credit line from government Go to Source
Sweden’s Volvo hit by cancelled orders as pandemic creates ‘new normal’
STOCKHOLM (Reuters) – Sweden’s AB Volvo (VOLVb.ST) on Thursday warned of stalling truck orders and a challenging adjustment to a “new normal” of feebler demand after reporting a smaller-than-expected fall in quarterly operating earnings helped by service sales. FILE PHOTO: The logo of Swedish truck maker Volvo is pictured at the IAA truck show in… Continue reading Sweden’s Volvo hit by cancelled orders as pandemic creates ‘new normal’
Renault seeks state-backed loan to build cash buffer
PARIS (Reuters) – Renault (RENA.PA) is in talks with the French government to secure a state-backed loan worth several billion euros to shore up its liquidity during the coronavirus pandemic, the French carmaker said on Thursday. FILE PHOTO: The logo of French carmaker Renault is seen before the company’s 2019 annual results presentation at their… Continue reading Renault seeks state-backed loan to build cash buffer