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Old 05-23-2020, 07:14 AM   #1
AVANTI R5
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Default Rumoured Renault cuts could close factories and axe Alpine A110



Renault has suffered its first loss in a decade – forcing the brand to implement a £1.8 billion “no taboos” cost-cutting programme


Quote:
A French newspaper report suggests that Renault is considering the closure of four factories across France, including the Alpine factory in Dieppe – which could spell the end for the A110 sports car.

In February Reuters reported that the brand has suffered its first financial loss in 10 years. The situation has forced the company to trigger a “no taboos” cost-cutting programme, which will see the brand reduce its spending by €2 billion (roughly £1.8 billion) over the next three years.

Renault has pledged to review the performance of its factories as part of the project, with reports suggesting the brand’s factory in Yvelines, could be repurposed. The plant currently produces the Nissan Micra – although the supermini’s sales have slumped alongside newer rivals, such as the Peugeot 208 and the recently revised, all-electric Renault ZOE.

Rumours are circulating that a further three Renault models will not make it past their current generation. We’ve previously reported that the Megane hatchback faces an uncertain future, but the Koleos SUV and the Espace MPV are also rumoured to be in the firing line.

The Renault-Nissan-Mitsubishi Alliance is also still recovering from its spat with its former CEO, Carlos Ghosn, who was arrested in November 2018 on financial misconduct charges, regarding his alleged use of company assets for personal gain. Ghosn’s actions have also damaged relations between the two companies and paralysed the pair’s planned joint ventures.

Former SEAT boss Luca De Meo has been appointed the French firm’s new CEO, and will begin from 1 July.
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Old 05-23-2020, 07:18 AM   #2
AVANTI R5
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Default France warns Renault could disappear; Nissan plans job cuts

Renault Could Disappear’ Without $5.5B Loan, Says French Finance Minister


Quote:
France warns Renault could disappear; Nissan plans job cuts

https://www.reuters.com/article/us-h...-idUSKBN22Y0TH

PARIS/TOKYO (Reuters) - Europe’s car industry was put on alert for more job losses on Friday as a French minister warned Renault could disappear if it didn’t get help soon and a Japanese news report said partner Nissan was considering 20,000 layoffs, with many in Europe.


Renault (RENA.PA) and Nissan (7201.T) have been in a carmaking alliance for the past two decades and are due to announce a strategy update next Wednesday.

The plan was originally billed as a reset of their relationship, which was rocked by the November 2018 arrest in Japan of the alliance’s architect and long-time boss Carlos Ghosn on charges of financial misconduct, which he denies.

However, the update has taken on greater significance since the coronavirus pandemic hammered demand for vehicles and threw production into disarray.

French finance minister Bruno Le Maire, who is considering a 5 billion euro ($5.5 billion) loan for Renault to help it through the crisis, warned on Friday the company’s future was at stake.

“Yes, Renault could disappear,” he told Europe 1 radio.

FILE PHOTO: The logo of Renault carmaker is pictured at a dealership in Les Sorinieres, near Nantes, France, February 19, 2020. REUTERS/Stephane Mahe
Le Maire said Renault’s French plant in Flins mustn’t close and the company should be able to keep as many jobs as possible in France, but also said it needed to adapt and be competitive.

Renault declined to comment on Le Maire’s remarks.

The Flins factory, northwest of Paris, is where Renault makes its electric Zoe models and the Micra car for Nissan. It employed around 2,640 people at the end of 2018, according to Renault’s website.

The company has 40 plants and 13 logistics sites in 16 countries.

SCALING BACK

Kyodo, meanwhile, said Nissan might axe 20,000 jobs from its global workforce, mainly in Europe and developing countries.

Two people with knowledge of the matter told Reuters the number of cuts had not been finalised.

Nissan declined to comment.

The Japanese automaker said in July last year it would cut 12,500 employees, nearly 10% of its of 140,000-strong workforce. If it raises that figure to 20,000, it would broadly match the number of jobs it shed during the 2009 global financial crisis.

Sources familiar with the matter told Reuters earlier this month that Nissan’s management had become convinced it needed to be much smaller and would likely cut 1 million cars from its annual sales target, while seeing a bigger role for the United States and China in car sales.

Sources have also said it plans to scale back its European business to focus on sport-utility and commercial vehicles, including possibly closing a plant in Spain, which employs around 3,000 people.

Hit by over-capacity, stiff competition and flagging demand, Europe’s car industry has seen a steady stream of job losses, with Germany’s Volkswagen VOWG_P.DE announcing in December up to 9,500 cuts at its Audi (NSUG.DE) brand.

So far, most of the layoffs during the coronavirus crisis have been temporary, however, with companies taking advantage of government-backed furlough schemes.
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Old 05-23-2020, 11:20 AM   #3
Masterauto
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18 Alfa GiuliaTi S
LOTUS Esprit ES, ML TDI

Default

Fiat, Alfa Romeo, Peugeot and Renault all becoming irrelevant ?
I doubt Peugeot and Renault will come to USA but as a Nissan and Fiat Alfa Romeo will leave soon. Looked at some dealer inventories and almost nothing on their lots .
A softening economy and then trounced by Covid19 bringing a new future.
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