Renault Sells Russian Assets for 1 Rouble, Moscow Takes Over to Revive Moskvitch

News surfaced yesterday that Renault has decided to sell its Russia operations and stake in Lada for the grand sum of 1 rouble (or double that amount, depending on the source). For those playing at home, a single unit of Russian currency is presently worth 1.5 cents in America as of this writing.

Following that announcement, reporters at The Moscow Times said the country quickly nationalized a major factory belonging to Renault, marking one of (if not the) first major transfer of private assets into state control since the invasion of Ukraine.

What does Russia plan to do with the facility? Kickstart production of the Moskvitch, of course.

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Report: Renault Considering Separate EV Business, IPO for Assets

Renault SA is reportedly mulling over the possibility of undergoing extensive restructuring, followed by an initial public offering for its electric vehicle assets. While the company had hinted that splitting itself into separate EV and combustion brands was a possibility in February, it wasn’t taken all that seriously. At the time, numerous automakers had suggested dividing themselves along similar lines.

But Ford Motor Co. announced it would actually be going ahead with the plan in March and Renault appears to be similarly warming to the idea, based on a meeting held last week between upper-level management and analysts. This included CEO Luca de Meo and CFO Thierry Pieton, both of whom allegedly acknowledged the real possibility of a split at the French automaker and the subsequent IPO.

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Auto Industry Assets Could Be Seized by Russian Nationalization

The war in Ukraine continues to have ripple effects.

A new report from industry bible Automotive News suggests Vladimir Putin is considering seizing the assets of automakers who left Russia in the wake of its invasion of Ukraine.

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The Grand Tour's "Carnage a Trois" Episode Falls Largely Flat
The Grand Tour returned this past Friday with the fourth special of its fourth season, entitled “Carnage a Trois.” The French-themed episode follows “ Lochdown” of August 2021, “ A Massive Hunt” from December last year, and “Seamen” from December 2019. “Seamen” was the first installment of The Grand Tour’s new format where the tent, audience, track, and stupid time-wasting went by the wayside in favor of a specials-only format with grand adventures and less choppy segmented content. How does “Carnage a Trois” fare in that mold? Pas bon.

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Rare Rides: The Eagle Premier Story, Part VI (The End)

Today we wrap up our Rare Rides series on the orphan Eagle Premier (other five parts here), and discuss the boxy sedan’s important legacy at Chrysler.

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Rare Rides: The Eagle Premier Story, Part V

The fifth entry in our Rare Rides series on the Eagle Premier brings us to 1988. The Premier was newly on sale after a delayed introduction, and the company building it was not the same company that spent years designing it.

Chrysler was in charge of the Premier’s fate.

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Rare Rides: The Eagle Premier Story, Part IV

Today is the fourth installment in our Eagle Premier series. Parts I, II, and III brought us through late 1987 when the Premier finally entered production, albeit well behind schedule.

The Renault group’s high profile chairman had been assassinated in fall 1986 by French extremists, and the company’s new chair, Raymond Lévy, was experiencing pressure from all sides.

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Rare Rides: The Eagle Premier Story, Part III

We continue our coverage today of the Eagle Premier from over 30 years ago. Parts I and II detailed the inception of the AMC-Renault joint project, and the technical aspects of what was a pretty advanced (or quirky) family sedan.

The time had come to put this all-new AMC offering on sale, but Premier arrived alongside some very unfortunate historical circumstances.

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Rare Rides: The Eagle Premier Story, Part II

Part I of The Eagle Premier Story covered the inception of the collaborative AMC-Renault X-58 project in 1982, and its front-drive full-size flagship goal. It was to be an all-new car to lead AMC’s North American offerings. In today’s installment, we’ll take a look at the stylish sedan’s technical details more closely.

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Rare Rides: The Eagle Premier Story, Part I

Today’s Rare Ride combined Italian design and French running gear in a full-size sedan marketed under an all-new brand: Eagle.

It’s time for the Eagle Premier story.

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Nissan Dumping Stake in Daimler

On Tuesday, Nissan Motor Co. announced that it would be selling its shares of Daimler AG. The Japanese firm owns about 1.5 percent of Germany’s oldest automaker and the move is something many were predicting after Renault did the same in March.

Nissan’s offloading will mimic its partners and likewise use an accelerated bookbuild offer that basically means dumping shares as quickly as possible with help from an underwriter. Investors were to expect shares to be priced around 69.85 euros apiece, netting the automaker at least $1.2 billion if everything goes smoothly.

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Rare Rides: A Collection of Four Classic Renaults, of Fuego and 17 Gordini Varieties

Today is one of the few occasions where Rare Rides presents a curated collection of cars for your review.

A serious Francophile in Minnesota has amassed a collection of trois Renault Fuegos et un 17 Gordini. Has a more exciting sentence ever been published? I think not.

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Rare Rides: The 1967 Hino Contessa 1300S, Rear-engine Blip on the Radar

Hino is a well-known producer of commercial vehicles today and has been in the commercial truck market since World War II. But for a short while in the Sixties, they built their own rear-engine passenger car.

Say hello to Contessa.

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Rare Rides: The Absolutely Epic 2002 Renault Avantime, a Big Sales Flop

Today’s Rare Ride is one of those that’s always been on the to-do list, but never floated to top of mind. That changed the other day, when this very tidy example was posted on Twitter.

Let’s talk about Privilege.

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UN Panel Decides Japan Violated Carlos Ghosn's Human Rights

The United Nation Human Rights Council’s Working Group on Arbitrary Detention issued a report on Monday stating that Carlos Ghosn’s extended detention in Japan was an unacceptable infringement on his rights — adding that the matter would be forwarded to the UN’s rapporteur on torture, cruel and other inhuman or degrading treatment.

While there are undoubtedly larger examples of human rights abuses inside the automotive industry — Volkswagen’s apparent reliance on Chinese slave labor springs to mind — Japan’s bizarre treatment of the former head of the Renault-Nissan alliance garnered plenty of attention. Accused of financial crimes relating to the Japanese automaker he formally chaired and was once praised for saving, Ghosn was subjected to repeated arrests and strict limitations on who he was allowed to contact. Despite his having fled the country in a form befitting of a secret agent, the UN is still claiming his treatment ahead of the repeatedly delayed trial was tantamount to abuse.

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  • Kurkosdr Someone should tell the Alfa Romeo people that they are a badge owned by a French company now.The main reason PSA bought FiatChrysler is that PSA has the technology to enter the luxury market but customers don't want a French luxury car for psychological/mindshare reasons. FiatChrysler has the opposite problem: they have lots of still-respected brands but not always the technology to make good cars. Not to say that if FCA has a good platform, it won't be used in a PSA car.In other words, if those Alfa Romeo buds think that they will remain a silo with their own bespoke platforms and exclusive sheet metal, they are in for a shock. This is just the start.
  • Arthur Dailey For the Hornet less expensive interior materials/finishings, decontent just a little, build it in North America and sell it for less and everyone should be happy with both the Dodge and the Alfa.
  • Bunkie I so wanted to love this car back in the day. At the time I owned a GT6+ and I was looking for something more modern. But, as they say, this car had *issues*. The first of which was the very high price premium for the V8. It was a several thousand dollar premium over the TR-7. The second was the absolutely awful fuel economy. That put me off the car and I bought a new RX-7 which, despite the thirsty rotary, still got better mileage and didn’t require premium fuel. I guess I wasn’t the only one who had this reaction because, two years later, I test-drove a leftover that had a $2,000 price cut. I don’t remember being impressed, the RX-7 had spoiled me with how easy it was to own. The TR-8 didn’t feel quick to me and it felt heavy. The first-gen RX was more in line with the idea of a light car that punched above its weight. I parted ways with both the GT6+ and the RX7 and, to this day, I miss them both.
  • Fred Where you going to build it? Even in Texas near Cat Springs they wanted to put up a country club for sport cars. People complained, mostly rich people who had weekend hobby farms. They said the noise would scare their cows. So they ended up in Dickinson, where they were more eager for development of any kind.
  • MaintenanceCosts I like the styling of this car inside and out, but not any of the powertrains. Give it the 4xe powertrain - or, better yet, a version of that powertrain with the 6-cylinder Hurricane - and I'd be very interested.