PARIS (Reuters) – Renault’s (RENA.PA) shares fell on Wednesday after Moody’s cut its rating on the French carmaker’s debt to “junk” status, citing weaker profitability as the company restructures and grapples with falling demand. FILE PHOTO: The logo of French carmaker Renault is seen before the company’s 2019 annual results presentation at their headquarters in… Continue reading Renault shares fall after Moody’s cuts its debt to ‘junk’ status
Tag: Nissan
Nissan’s new CEO says willing to be fired if no turnaround
YOKOHAMA (Reuters) – Nissan’s (7201.T) new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan’s second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. FILE PHOTO: Nissan Motor chief executive Makoto Uchida speaks during a news conference… Continue reading Nissan’s new CEO says willing to be fired if no turnaround
Nissan CEO sees earnings, cashflow under pressure this business year
FILE PHOTO: Nissan Motor chief executive Makoto Uchida speaks during a news conference at Nissan Motor headquarters in Yokohama, Japan, December 2, 2019. REUTERS/Kim Kyung-Hoon/File Photo YOKOHAMA (Reuters) – Nissan Motor Co (7201.T) Chief Executive Makoto Uchida on Tuesday said he expects weak global car sales to keep the Japanese automaker’s earnings and cashflow under… Continue reading Nissan CEO sees earnings, cashflow under pressure this business year
@Renault: 2019: ANOTHER RECORD YEAR FOR RCI BANK AND SERVICES DESPITE A DOWNTURN IN THE AUTOMOTIVE MARKET
Despite a downturn of the automotive sector, RCI Bank and Services stabilized its financing contract volumes, achieved a record penetration rate[1] and continued to develop its services business. Thanks to this commercial performance, RCI Bank and Services reached a record level of financial performance in 2019. 1,798,432 new financing contracts, stable compared to 2018, for… Continue reading @Renault: 2019: ANOTHER RECORD YEAR FOR RCI BANK AND SERVICES DESPITE A DOWNTURN IN THE AUTOMOTIVE MARKET
Toyota’s Canadian chief argues climate goals not best solved by EVs
Larry Hutchinson, CEO of Toyota Canada, spoke last week at the opening of the 2020 Canadian International Auto Show in Toronto. His comments were captured by Driving.ca’s David Booth, who characterized Toyota as “the industry leader in electrification” and “the biggest, most successful, and most environmentally conscious traditional automaker.” Hutchinson expressed Toyota’s commitment to reducing… Continue reading Toyota’s Canadian chief argues climate goals not best solved by EVs
Ford halts Puma deliveries due to airbag spring recall
Ford UK has confirmed that the new Puma crossover will be recalled, and deliveries have been halted, due to a potential airbag component problem. The Nissan Juke rival only went on sale late last year, with some buyers of the initially prioritised First Edition models taking delivery last month. However, Autocar obtained confirmation and a… Continue reading Ford halts Puma deliveries due to airbag spring recall
@Renault: 2019 FINANCIAL RESULTS : Groupe Renault meets its revised targets
Despite a troubled context, Groupe Renault achieved its targets, revised in October, with a 4.8% Group operating margin and a positive Automotive operational free cash flow. Sales at 3.8 million units, down -3.4%. Group revenues down -3.3% to €55,537 million. At constant exchange rates[1], revenues would have been down by -2.7%. Group operating margin of… Continue reading @Renault: 2019 FINANCIAL RESULTS : Groupe Renault meets its revised targets
Renault has “no taboos” on possible plant closings … including in France
Renault closes its horribilis annus on poor results. In line with the warning published in October 2019, a few days after the departure of former general manager Thierry Bolloré, the manufacturer with the diamond announced a net loss of 141 million euros on Friday February 14. Unheard of since 2009. “2019 was a difficult year… Continue reading Renault has “no taboos” on possible plant closings … including in France
Renault plans $2.2 billion ‘no taboos’ cost cuts after first loss in a decade
PARIS (Reuters) – Renault’s (RENA.PA) first loss in a decade triggered a no-taboos commitment to cut costs by 2 billion euros ($2.2 billion) over the next three years from the carmaker on Friday, as it tries to put the Carlos Ghosn affair behind it. As ex-Volkswagen brand manager Luca de Meo prepares to take over… Continue reading Renault plans $2.2 billion ‘no taboos’ cost cuts after first loss in a decade
Car maker slips into the red: Nissan crisis hits Renault
Christian Hartmann / REUTERS Renault slips into the red The crisis at Nissan Show stock market chart leaves deep traces on partner Renault Show stock market chart, The French carmaker reported a loss of 141 million euros for the past year and cut the dividend for shareholders, including the French state. On Friday, management cited… Continue reading Car maker slips into the red: Nissan crisis hits Renault