THE world’s third-biggest car-maker by sales, Stellantis, has announced a positive set of 2023 full-year financial results which included a strong cash position that enabled it to announce a €3 billion ($A5b) shares buyback program and boosted the value of its shares. The results came despite being hit by UAW strikes in the US in the second half of 2023.  The strikes dented profit contributions from its Jeep and Chrysler brands. However, a Reuters report said that analysts said the strikes’ impact was muted by high transaction prices on cars sold in the US. Stellantis posted net revenu ..read more

RENAULT is spreading its wings through a tie-up with China’s biggest privately-owned automotive group Geely Auto. The link involves an investment in a huge internal-combustion engine business with a future based on synthetic fuel and hydrogen capabilities. Renault and Geely will form a joint venture with Geely buying 34 per cent of Renault Korea Motors (RKM) that operates the former Samsung Motors factory in Busan. Geely will pay $US200 million for the one-third share which is seen as potentially helping the Chinese company increase exports into the US. For Renault, the funds will help boost ..read more

RENAULT and Nissan have agreed to rebalance their decades-old alliance in which Renault will reduce its controlling stake in Nissan to 15 per cent from 43 per cent while Nissan will take a share in Renault’s new electric vehicle spin-off. Under the proposal, Renault will reduce its 43 per cent stake in Nissan to 15 per cent, matching the 15 per cent stake Nissan holds in Renault. Both sides will be able to exercise voting rights up to 15 per cent. Currently Nissan has no voting rights attached to its stake, a long time source of contention. Renault will transfer 28.4 per cent of its share to ..read more

RENAULT Group has appointed a former Pacific region brand executive Fabrice Cambolive to the position of CEO of the Renault brand. Mr Cambolive was promoted to head of the Renault brand as a member of the Renault Group leadership team, reporting to Renault Group CEO Luca de Meo. In his new role, Mr Cambolive – having served as Renault brand chief operating officer since May 2022 – will work with the Renault brand management committee to consolidate the sustainable and profitable development of the French car-maker. He will also ensure the transformation of the brand with the launch of 14 new ..read more

AS the world shifts towards electric vehicles and turns its back on fossil-fuelled cars, Renault has struck a deal with China’s automotive giant Geely to plan a range of internal-combustion engines for itself, and for future partners. The radical move is one of a string of overhauls of Renault’s business plan announced this week in Europe. Ultimately, Renault wants to separate its activities into five businesses – EVs, ICEs (including hybrids), financial services, mobility and its sports-car brand, Alpine. Along the way, it said it would deepen ties with Geely (which already has a joint-ventu ..read more

RENAULT is shaking up its business plan with a proposal that could see it sell its 43 per cent stake in Nissan, cop a potential $US2.4 billion ($A3.3b) liability as it pulls out of Russia and sells its 68 per cent share in Lada-maker AvtoVAZ, and puts its future in building EVs. Selling its share in Nissan – worth $US7.6 billion ($A10.5b) – would also ease tensions with Nissan that came to a head with the charging of former CEO Carlos Ghosn in November 2018 and his subsequent escape from Japan to live in Lebanon. Renault may not sell all its shares. It could reduce its interest to 15 per cent ..read more

RENAULT is inking a joint venture with Chinese car giant Geely to expand sales into China and South Korea, but someone forgot to tell Alliance partner Nissan. The move suggests that Renault is wanting to make its own way in China without Nissan, with two Nissan management leaders telling Reuters they were unaware that Renault was even in negotiations with Geely. Renault and its global Alliance partner Nissan Motor Co once had the same Chinese partner Dongfeng, however the Renault-Dongfeng joint venture was dissolved. The deal also appears to be designed to lift the Geely sub-brand Lynk&Co ..read more

ATECO Automotive has appointed former Subaru Australia senior manager and executive Gary Johnston as state manager for Renault in Western Australia. Ateco became Australia’s import and distributor for Renault on April 1 this year. Mr Johnston has been with Subaru importer Inchcape for 25 years in roles including manager of Subaru Australia’s western region of WA and SA. He has also been the national sales manager of the brand for seven years and became general manager of sales for Peugeot Citroen Australia after parent company PSA – now part of Stellantis – moved the distributorship to Inchca ..read more

THREE of Europe’s biggest car makers, Peugeot, Renault and Volkswagen, are being asked to stump up more than $300 million in funds following the laying of charges against the latter two and the start of an investigation against Peugeot into the on-going saga of alleged cheating by car makers on diesel emissions and fuel economy claims. Both Renault and Volkswagen were charged in France with offenses on May 6 and now Stellantis has summons to court in France where allegations have been laid of consumer fraud in connection with the sale of Euro 5 diesel vehicles. But what is attracting the atte ..read more

RENAULT Australia has strengthened its network support with the appointment of a new dealer business manager in NSW. Sebastien Bureau, who started in the new role on November 23, joins the team with more than 15 years’ experience in the automotive industry across a diverse range of roles. He has worked in dealerships and with various manufacturers including Hyundai, Volkswagen and, most recently, Harley-Davidson. “I’m very happy to be joining a great company on the cusp of some exciting new developments,” Mr Bureau said. “Renault has performed strongly during the pandemic and, with two exciti ..read more