PRESS RELEASE COMMUNICATION OF RENAULT’S BOARD OF DIRECTORSAnnual General Meeting of Shareholders to take place on June 19, 2020Cancellation of the dividend for the 2019 financial year25% reduction in compensation for the Chairman and interim CEO25% reduction in Directors’ 2020 attendance feesBoulogne-Billancourt, April 9, 2020 – Renault’s Board of Directors, meeting today under the chairmanship… Continue reading Groupe Renault:COMMUNICATION OF RENAULT’S BOARD OF DIRECTORS 9th April 2020
Tag: Nissan
Nissan Seeks $4.6 Billion Credit Line After Coronavirus Hit: Sources
Nissan Motor has requested a 500 billion yen ($4.6 billion) commitment line from major lenders after sales were battered by the coronavirus outbreak, two people with knowledge of the matter told Reuters on Thursday.Like other automakers, Nissan has been hard hit as the pandemic decimates demand and disrupts production, but the Japanese automaker is more vulnerable than others.
Toyota extends North American plant shutdown; will stop paying 5,000 temporary workers
FILE PHOTO: A view shows the Toyota Motor Manufacturing plant in Tijuana, Mexico May 31, 2019. Picture taken May 31, 2019. REUTERS/Jorge Duenes WASHINGTON (Reuters) – Toyota Motor Corp said Wednesday it plans to reopen its North American auto plants on May 4, extending its current shutdown by two additional weeks. The Japanese automaker cited… Continue reading Toyota extends North American plant shutdown; will stop paying 5,000 temporary workers
Renault board to consider dropping dividend – sources
PARIS, April 8 (Reuters) – French car maker Renault’s board will meet on Thursday to decide on possibly dropping the dividend payment this year in light of the coronavirus crisis, three sources familiar with the situation have told Reuters. A Renault spokesperson was not immediately available for comment. While several automotive companies such as Michelin… Continue reading Renault board to consider dropping dividend – sources
VW Atlas Cross Sport has what it takes to run with the best 5-seat midsize SUVs
CLOSE Midsize SUV delivers style, value, features Detroit Free Press Volkswagen hit a trifecta with the Atlas Cross Sport five-passenger SUV: Looks, value and features. After struggling to cash in on the SUV boom for years, VW’s model line has caught up with the American customer. SUVs accounted for 52% of 2019 US vehicle sales,… Continue reading VW Atlas Cross Sport has what it takes to run with the best 5-seat midsize SUVs
Honda, Nissan to stop paying furloughed workers at US plants
Shiho Takezawa and Chester Dawson, Bloomberg Published 3:00 p.m. ET April 7, 2020 | Updated 3:02 p.m. ET April 7, 2020 Honda Motor Co. and Nissan Motor Co. will temporarily stop paying workers laid off from their idled U.S. plants as the coronavirus stifles demand for cars and trucks. The two Japanese companies on Tuesday… Continue reading Honda, Nissan to stop paying furloughed workers at US plants
Honda, Nissan furlough U.S. workers as auto demand plummets
FILE PHOTO: The Honda logo is displayed at the 89th Geneva International Motor Show in Geneva, Switzerland March 5, 2019. REUTERS/Pierre Albouy/File Photo TOKYO/WASHINGTON (Reuters) – Honda Motor Co (7267.T) and Nissan Motor Co (7201.T) on Tuesday said they had furloughed thousands of workers at their U.S. operations as the coronavirus pandemic slashes demand for… Continue reading Honda, Nissan furlough U.S. workers as auto demand plummets
To survive and thrive, it’s time for the automotive sector to diversify its supply chain
Coronavirus and recent trade wars have made one thing clear – the current supply chain model in the automotive sector is unsustainable. Neeraj Kanwar, managing director of one of the world’s largest tyre manufacturing companies, reports. The past couple of weeks has witnessed numerous carmakers shut their plants across the US, UK and Europe. We… Continue reading To survive and thrive, it’s time for the automotive sector to diversify its supply chain
Honda, Fiat Chrysler cancel all April U.S., Canadian auto production
FILE PHOTO: Honda Motor’s logo is seen on Civic sedan car at its showroom in Tokyo, Japan October 4, 2017. REUTERS/Kim Kyung-Hoon WASHINGTON (Reuters) – Honda Motor Co (7267.T) and Fiat Chrysler Automobiles NV said on Monday they will extend their auto production shutdown in the United States and Canada to all of April. The… Continue reading Honda, Fiat Chrysler cancel all April U.S., Canadian auto production
Renault plant in Moscow extends production suspension
MOSCOW, April 6. / TASS /. The Renault concern in Moscow has extended the suspension of production in connection with the decree by Russian President Vladimir Putin on the extension of non-working days until the end of April, an official representative of the company told TASS on Thursday.
“In accordance with the decree by the Russian President, the Moscow Renault plant suspended car production starting on March 30, 2020. These are paid non-working days for workers. The plant will resume its work depending on further decisions of the government,” the representative said.
Previously, the week from March 30 to April 3 was declared a non-working week, to combat the spread of the coronavirus. The Renault plant suspended the conveyor for this period. Later, the President announced the extension of non-working days until April 30.
The suspension of production was also announced by Nissan, Toyota and the Avtotor Kaliningrad plant. At the same time, starting on April 6, automobile production w..