Maybe that’s a dated reference in this age of smartphones and hookup romance apps. Regardless, the list of potential partners for a prowling Fiat Chrysler doesn’t begin and end with Renault-Nissan-Mitsubishi.
Oh sure, it wouldn’t mind getting down to business with the French-Japanese auto giant, but there’s plenty of fish in the sea. FCA knows it’s a catch, and wants to put Renault on notice that it has plenty of choice in who it goes home with. (Read More…)
The proposed merger between two auto giants — Renault-Nissan-Mitsubishi and Fiat Chrysler Automobiles — went nowhere earlier this year, but the door to the deal never swung fully shut. That’s according to a report in the Wall Street Journal, in which sources claim talks are ongoing to rekindle the romance.
FCA snatched away its offer in June after the French government, which owns 15 percent of Renault, intruded into discussions, citing a need to have alliance partner Nissan fully on board. The Japanese automaker, embroiled in scandal and a serious financial slump, kept its distance from those earlier talks, offering polite but unenthusiastic public support as reports emerged of concerns about its autonomy and shrinking influence under such a marriage.
To get the deal back on track, Renault would need to loosen its ties with Nissan. (Read More…)
Renault Chairman Jean-Dominique Senard could have had a better time at Nissan’s shareholder meeting last week. New details of the event have come to us via Automotive News and they’re helping to showcase just how fractured the Renault–Nissan–Mitsubishi Alliance has become. While returning Nissan CEO Hiroto Saikawa focused on developing a succession plan for upper management, Senard attempted to appease an angry mob of Japanese shareholders who have absolutely had it with France.
As there was no exit poll for the event, we’ve no idea how many shareholders have it in for la République. But numerous accounts of the event described the situation as chaotic and angry with some international bad blood on full display. (Read More…)
Lancer Evolution vs WRX STi had been as classic a rivalry as Mustang vs Camaro. But, with the departure of the Evo in 2016, there has been a hole in the marketplace and in the hearts of enthusiasts. Reports coming out of Autocar point to a revival of the famed rivalry, with an theoretical Evo XI getting some help from Renault.
While the Evolution name has been rumored to be revived in the form of some sort of SUV or electric vehicle — or both — the Lancer Evolution may yet return in proper super-sedan form. While details are spotty, it is speculated that the engine would come from the next-generation Renault Mégane RS. The current Mégane RS is the front-wheel drive Nürburgring production vehicle record holder, sporting a 296 horsepower and 295 ft-lbs 1.8-liter, 4-cylinder engine. With the next-generation engine anticipated to displace 2.0-liters, it may utilize a bit of electric boosting from a 48V mild-hybrid system to close in on the 341 hp coming from Subaru’s WRX STi S209. (Read More…)
With the Renault-Nissan partnership looking about as healthy as the bird you clipped on the highway last week, there has been some speculation that the Alliance might disband. At the very least, we know that Nissan has wanted Renault to diminish some of its authority and finally allow the Japanese brand to make a few decisions for itself.
While it’s being kept relatively quiet, Renault and Fiat Chrysler Automobiles are currently seeking ways to rescue their failed merger plan and receive Nissan’s blessing. But Nissan has been stonewalling the $35-billion deal by denying support. It’s not the most cunning strategy we’ve encountered, but totally effective in befuddling the French government to a point where it wanted to delay things — prompting FCA to back out.
Reuters is now claiming that Nissan plans on using round two of the merger talks to convince Renault to reduce its 43.4-percent stake in the company. But the French automaker’s CEO, Thierry Bolloré, says there’s no way that’s happening. (Read More…)
Without the glue that was Carlos Ghosn holding the Renault-Nissan Alliance together, some of the partnership’s joint-business operations are reportedly being disbanded as corporate relations continue to sour. Nissan quietly started dissolving the Office of the CEO in April, after a special corporate governance committee claimed it was one of the reasons why it was so difficult to detect Ghosn’s alleged financial misconduct.
The Japanese automaker has since sought to rejigger its own management structure, as per the committee’s suggestions, however Renault intends on blocking those governance changes. Now the Financial Times is reporting that the two companies are gradually unwinding departments providing oversight for collaborative efforts related to light commercial vehicles, sales and marketing, communications and more. (Read More…)
Every automotive journalist has a mental list of new models they’d like to see migrate to their home country. For many residing in North America, the Alpine A110 is at the top of the page. We didn’t get the resurrected A110, which is a faithful throwback to the original model that ended production in 1977, and this has left a subset of our staff feeling a little raw.
Alpine has since unveiled a spicier build of the car, throwing some additional salt on our collective butthurt — though we’ll happily acknowledge that probably wasn’t the automaker’s intent. It seems content building a two-seat sports car France can be proud of. (Read More…)
It was downright amazing how fast the proposed merger between Fiat Chrysler Automobiles and the Renault-Nissan-Mitsubishi Alliance collapsed. Considering the auto group’s messy state, there may have been no alternative. While Nissan’s unwillingness to support the merger is often cited as a chief reason in FCA’s backing out, it seems the Italian-American company was similarly spooked by internal strife within the alliance.
Renault Chairman Jean-Dominique Senard addressed the matter on Wednesday during the automaker’s annual meeting in Paris. He told shareholders that the French government’s inability to act was what ultimately led to Fiat Chrysler backing out of the deal, while openly lamenting the missed opportunity.
“This project remains, in my head, absolutely remarkable and exceptional,” Senard said. “Frankly, I am saddened.” (Read More…)
Two proxy advisory firms have reportedly encouraged shareholders to vote against reappointing Hiroto Saikawa as Nissan’s chief executive. While it’s relatively uncommon to see voting research providers issue such an overt recommendation, it’s not unheard of.
Institutional Shareholder Services (ISS) suggested shareholders vote against Saikawa at Nissan’s annual general meeting later this month, citing his closeness to Carlos Ghosn as a liability. According to Reuters, the firm believes the automaker should try to distance itself from the recent past as much as possible.
“When the company needs to break from the past and build a strong board with fresh members, the reelection of Hiroto Saikawa, who has been on the board for 14 years and worked closely with Carlos Ghosn, does not appear appropriate,” ISS said in a Friday research note to investors. (Read More…)
The relationship between alliance partners Renault and Nissan remains incredibly strained. We’ve documented the souring of this corporate relationship closely since November, starting with the arrest of former Nissan chairman and Renault CEO Carlos Ghosn, but the partnership’s new chapter is a bit more confrontational. Of course, the relationship trouble started long before that.
Still in the midst of a corporate power struggle, Renault recently decided to block Nissan’s board reforms — possibly in response to the Japanese automaker not supporting a possible merger between the French automaker and Fiat Chrysler. Regardless, the Alliance now appears to be in real jeopardy, with neither side interested in cooperating. Nissan CEO Hiroto Saikawa appears to be hip to this fact, claiming the two sides need to take steps to stabilize and reinforce the Renault–Nissan–Mitsubishi Alliance or risk it dissolving completely. (Read More…)
Nissan and Renault’s strained relationship is well documented at this point. And yet the scribes keeping tabs on the matter must now dip their quills in fresh ink, as a new chapter is ready to be written. Following the arrest of Carlos Ghosn, industrial scandals, a subpar earnings report, and more headaches, Nissan intends to adjust its corporate structure while passing some internal reforms.
However, Renault Chairman Jean-Dominique Senard recently issued a letter to the automaker saying the company would abstain from voting on the issue. As Nissan’s adoption of the reform requires two-thirds approval, Renault could easily block the plan with its sizable stake in the company. Nissan politely calls the automaker’s stance “most regrettable,” but execs in Yokohama must be seething. (Read More…)
Vehicles from plucky AMC are always welcome here at Rare Rides. Thus far, the series has featured a Metropolitan, a concept Van, a Matador Barcelona, and a very tasty Sundancer. The latter is a cousin of today’s relentlessly beige Concord two-door sedan.
Ready for some malaise?
Thursday night’s falling apart of the proposed Fiat Chrysler-Renault merger was a setback for FCA, but the automaker wants everyone to know it remains on the hunt for a willing partner. Essentially, nothing’s changed from the days when former CEO Sergio Marchionne made eyes at the likes of General Motors and Volkswagen, only to receive the cold shoulder.
Sure, it didn’t work out with the French, Chairman John Elkann wrote to FCA employees, but that doesn’t mean FCA won’t soon find a date for the dance. (Read More…)
Following a whirlwind 10-day courtship, Fiat Chrysler withdrew its marriage proposal to Groupe Renault on Wednesday night, citing irreconcilable differences.
FCA blames France.
The proposed 50:50 merger with the French automaker, floated on Memorial Day, was snatched off the table following an FCA board meeting, the automaker stated in a release, adding that it had “become clear that the political conditions in France do not currently exist for such a combination to proceed successfully.” (Read More…)
As perviously reported, Fiat Chrysler is currently hard at work, hoping to impress Renault to a point where it will pull the trigger on possible merger. FCA is now in talks with the French government, which owns 15 percent of Renault, hoping it will also find the 50/50 proposal agreeable.
Concessions are already being made. FCA has agreed to France’s request to give the government a seat on an prospective eleven-member board, which also holds four seats for Renault and one for Nissan. Rumors have also suggested that the automaker is considering moving its headquarters to Paris to appease the country.
While France appears to be somewhat receptive, Renault appears to be taking things to the next level. Following a week of discussions with FCA, the company announced it would be taking the rest of the day to give the matter serious consideration. (Read More…)
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