Times are still tough in Russia, and your average Moscovite or St. Petersburgian doesn’t want to risk buying a new car — unless it’s a vivid, modern new Lada.
Lada, the much-maligned butt of Western jokes for decades, has reaped the rewards of luring a British ex-Volvo designer into its fold. In a vehicle market that continues to contract like a dying star, Lada’s new models are a pinpoint of light. (Read More…)
The Russian automaker that manufactures Lada vehicles won’t see Carlos Ghosn at its board meetings after this June.
The Renault-Nissan CEO and chairman is expected to be replaced as chairman of AvtoVAZ at the company’s June 23 shareholders meeting, the automaker has stated, with Dr. Serguey Skvortsov taking his place.
Ghosn remains the chairman of Alliance Rostec Auto BV, the holding company that controls AvtoVAZ. Renault-Nissan bought a majority stake in the company, which is a joint venture with Russian Technologies, in 2012. (Read More…)
Nissan last sold a car branded as a Datsun in 1981, but it’s bring the brand back for emerging markets like Indonesia, India, Russia and South Africa. The low cost brand will be launching in April in Russia with a starting price below RUB400,000 ($12,100) and go on sale there in late summer or early fall. Nissan is hoping that the new/old brand will attract consumers that had been considering used cars.
“The main objective (in Russia) is to be a serious alternative to the used car market – this is where we want to compete,” Jerome Saigot, director of Datsun’s operations in Russia, told Reuters. (Read More…)
With the stroke of a few pens putting signatures under a contract in Moscow today, then Renault-Nissan Alliance has become Russia’s largest automaker. The Alliance took control of AVTOVAZ, maker of the market-leading Lada brand. Lada holds 30 percent of Russia’s rapidly growing car market. (Read More…)
Yesterday, The Nikkei was all worked up about a takeover of Russia’s largest automaker AvtoVaz by the Renault-Nissan Alliance. The Nikkei became so excited that it forgot simple logic. More on that here. The Nikkei had it on not so good authority that Nissan would soon buy 25 percent of the Russians, and together with Renault’s 25 percent and change, Japan and France would finally achieve what had been tried before: Rule Russia. We had our doubts.
Do you hear the big hissing sound? That’s the lukewarm air coming out of the story. (Read More…)
You take some of my rescued state-owned automaker, and I’ll take some of yours. That seems to be the cunning plan cooked up by presidents Putin and Sarkozy, as the two face the prospect of rescuing struggling firms in the midst of a weak European market. And actually, it seems that the idea was really Putin’s. French-owned automaker Renault is “more than happy” with its 25 percent stake in the moribund Russian automaker AvtoVAZ, reports Bloomberg, but Russia is offering to buy 15 percent of the French firm if France in turn takes on more AvtoVAZ equity. Considering that Reanult paid $1b for 25 percent of a firm that has been kept alive only by government intervention, a closer embrace of VAZ does not seem advisable. Nor, frankly, does any form of “Franco-Russian Leyland” sound like a good idea.