Renault SA reported first-half losses amid withdrawal from Russia and semiconductor shortages, but upgraded targets for the year. The French carmaker reported a net loss of 1.36 billion euros, compared with a profit of 354 million euros a year ago. Half-year revenue came in at 21.12 billion euros, down from 23.36 billion euros a year […]
Tag: Renault
Renault: H1 sales volume down 30% after exit from Russia
French carmaker Renault on Tuesday reported a drop in vehicle sales in the first half of 2022 after suspending operations in Russia, its second-biggest market, in the wake of the invasion of Ukraine, Reuters reported. The company reported that its global sales fell 29.7% from last year to just over one million vehicles (1,000,199 vehicles). […]
Renault and Nissan are facing group litigation in France from dissatisfied customers
Renault and Nissan are being sued by their disgruntled customers in France over problems with their vehicles. Christophe Lèguevaques, a legal representative in the lawsuit against Renault and Nissan, said that about 1,100 people have taken joint legal action so far. Renault said that although some of its vehicles had some technical problems, they never […]
The Soviet Moskvich brand is revived in Russia
Russia is aiming to revive the Soviet car brand Moskvich, which could be achieved through cooperation with truck maker Kamaz and the use of a Chinese platform, two sources told Reuters. The new model is manufactured at the former Renault plant in Moscow. Sources said Kamaz was in talks with its partner, Chinese carmaker JAC, […]
Renault: Sells its operations in Russia and its participation in AvtoVAZ
The French Renault stressed that it has agreed to sell its activities in Russia and its stake in the Russian car industry AvtoVAZ. Renault has said it will sell all of Renault Russia’s 67.69% stake in AvtoVAZ to NAMI, a state-owned car research and development company. “The agreement gives Renault Group the option to repurchase […]
Renault to transfer 68% of Avtovaz shares to Russian Scientific Institute
French carmaker Renault SA will transfer a 68% stake in the automotive industry Avtovaz AO to a Russian scientific institute for a token price, Russian Interfax news agency quoted Russian Foreign Minister Embo as saying. Renault will have the right to repurchase its share capital within the next five or six years, as reported by […]
Deal for the ruble. Renault will transfer its share in the capital of AvtoVAZ to NAMI, and the Moscow Avtoframos plant will be transferred to the Moscow government
Finally, it became clear who will get Renault’s share in AvtoVAZ and who will take over the Renault Moscow plant. This was announced by the head of the Ministry of Industry and Trade of the Russian Federation Denis Manturov. According to the minister, a 68 percent stake in AvtoVAZ will most likely go to NAMI, […]
The share of Renault in AvtoVAZ can be redeemed by a Chinese automaker
According to TASS, citing a source in government agencies, Renault’s share in AvtoVAZ can be bought out by one of the Chinese automobile concerns. Before that, it was said that the sale would be made to a Russian company, but, apparently, various options are being considered. “One of the Chinese automakers is being considered”, the […]
Renault sells AvtoVAZ: only Granta, Niva and Vesta can remain in the Lada line
They didn’t even take it with an “automatic”, but what will happen next? World sales of Lada collapsed According to Gazeta.Ru, Renault is preparing AvtoVAZ for sale, while the state corporation Rostec or structures of the Ministry of Industry and Trade, which owns a 32.4% stake in the Russian JV Lada Auto Holding, may become […]
Carlos Ghosn: French authorities issue international arrest warrant for former Nissan strongman
French authorities have issued international arrest warrants for the arrest of former Nissan president Carlos Ghosn and four other people who allegedly helped him extract millions of euros from Renault for personal use, according to Bloomberg. One of the warrants targets billionaire Suhail Bahwan, who owns a car dealership in Oman, where prosecutors suspect he […]