Renault clung to full-year targets on Friday as it posted a 4.8 per cent drop in first-quarter revenue amid a decline in overseas sales and business with its alliance partner Nissan. Revenue fell to 12.527 billion euros ($13.95 billion) for January-March as global delivery declined by 5.6 per cent to 908,348 vehicles,
Global shares climbed on Monday as investors snapped up automaker stocks following confirmation of merger talks between Fiat Chrysler and Renault, and after pro-EU parties kept a firm grip on power in elections to the European Parliament.
Fiat Chrysler has made a “transformative” all-share merger proposal to French rival Renault, the Italian-American carmaker said on Monday, in a deal to create a new third-ranked global manufacturer.
Renault’s board of directors will meet Tuesday to formulate its response to a merger proposal by Fiat Chrysler, which is likely to lead to talks aimed at creating the world’s third-largest automaker, the company said.
Nissan Motor said on Friday that Hiroto Saikawa would stay on as chief executive, backing the protege of former boss Carlos Ghosn even as top shareholder Renault pushed for a change in the Japanese automaker’s leadership. Saikawa’s re-appointment is likely to be seen as a rebuff to Renault,
Fiat Chrysler and Renault are in talks on a comprehensive global tie-up that could address some of the main weaknesses of both carmakers, two sources with knowledge of the discussions told Reuters.
France is ready to consider cutting its stake in Renault in the interests of consolidating the automaker’s alliance with Nissan, Finance Minister Bruno Le Maire said on Saturday.
France is ready to consider paring back its 15-percent stake in Renault in the interests of consolidating the automaker’s alliance with Japanese partner Nissan, Finance Minister Bruno Le Maire said Saturday.
Nissan Motor Co believes that attempts by Renault SA to place one of its directors on Nissan's planned governance reform committees may lead to a conflict of interest,