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With Nissan dragging it down, Renault predicts a worsening year

PARIS — Renault warned revenue may decline this year, scrapping a previous goal, after first-half profit was hit by weakening car demand and an earnings collapse at alliance partner Nissan in the wake of the Carlos Ghosn scandal. Net income slumped by more than half to 970 million euros ($1.08 billion) in January-June as revenue fell 6.4% to 28.05 billion, the French carmaker said on Friday. Operating profit also dropped 13.6% to 1.65 billion euros. "Given the degradation in demand, the group now expects 2019 revenues to be close to last year's," Renault said — abandoning an earlier pledge to increase revenue before currency effects. A broad-based auto sales downturn has rattled the sector, prompting profit warnings and compounding challenges for Renault and Nissan as they struggle to turn the page on the Ghosn era. Their former alliance boss is now awaiting trial in Japan on financial misconduct charges he denies. Renault's bottom line was hit by an 826 million-euro drop in earnings from its 43.4%-owned partner. Nissan is cutting 12,500 jobs globally after an earnings collapse that it is keen to blame on Ghosn's leadership. But Renault's own performance - reflected in an operating margin that declined to 5.9% from 6.4% the year before - compares less favorably with domestic rival PSA Group. The Peugeot maker bucked the downturn with a record 8.7% profit margin unveiled on Wednesday. Alliance tensions flared after Ghosn's November arrest, worsened when Renault tried in vain to merge with Nissan then Fiat Chrysler, and may be affecting operational performance, investors fear. Citi analyst Raghav Gupta-Chaudhary flagged a lower-than-usual 258 million euros in joint purchasing savings for Renault. "We thought this would be weak in light of the well-documented difficulties with the alliance," he said. Renault blamed falling sales in France, as well as Turkey and Argentina, for a 7.7% revenue drop at its core automotive business, whose profit margin slid to 4% from 4.5%. Operating free cash flow also suffered, coming in at a negative 716 million euros as investment jumped by 742 million euros to 2.91 billion. Renault, which is counting on model launches including a new Clio mini to boost performance in the second half of 2019, nonetheless reiterated pledges to deliver positive full-year cash flow and a margin close to 6%. Renault shares were down 0.5% at 52.02 euros as of 0800 GMT in Paris, after initially falling as much as 2.7%.

2015 Nissan Murano configurator is lux'd and loaded

We just got done driving the all-new, 2015 Nissan Murano and while you'll have to wait just a few more hours for our complete driving impressions, you can at least get online and build your very own example of Nissan's latest CUV, thanks to the company's new configurator. While Nissan has already published the Murano's starting price, this is our first glimpse at the full pricing details. As we said, prices start at $29,650, not counting an $885 destination charge. From there, things, um, increase. Moving from the base S to the mid-level SV will require an extra $3,060, and adds navigation with the NissanConnect telematics system, a power driver's seat, LED running lights, remote start and a USB port for backseat passengers. An additional $4,330 moves you up to the Murano SL, adding heated leather seats, a Bose stereo, AroundView monitoring, an auto-dimming rear-view mirror, a power liftgate and blind-spot monitoring with cross-traffic alert. At the top of the range sits the Platinum, starting at $39,000 ($2,050 more than the SL). It includes 20-inch wheels, LED headlights, climate-controlled front seats, heated rear seats and a heated steering wheel. Regardless of trim, Nissan customers will get about with the help of a 3.5-liter V6 that's been mated up to an Xtronic continuously variable transmission. Adding the optional all-wheel-drive system will bump up the CUV's price an additional $1,600. Head over to the configurator and build your own ideal Murano.

Nissan GT-R LM Nismo pulls its way to Chi-town

We generally take it as a given that, as far as performance goes, rear-wheel drive is better than front. All-wheel drive can be better than either, in some cases, but you need power going to the wheels that aren't also handling the steering while leaving the others just tagging along for the ride. Right? Well Nissan is here to upend that notion with the new GT-R LM Nismo, presented here at the 2015 Chicago Auto Show. After supporting the DeltaWing project a couple of years ago and fielding its own ZEOD RC prototype last year, Nissan is returning to Le Mans this year with another oddball endurance racer. Only this time, it's going for gold, competing against the likes of Porsche, Audi and Toyota for the overall win in the top-tier LMP1 class. Tying this front-drive, 1,250-horsepower hybrid racing prototype to the all-wheel-drive GT-R may be tenuous, but we have to hand it to Nissan for shaking things up. In the process, Nissan has also confirmed the hot shoes who'll be tasked with manhandling this beast around the Circuit de la Sarthe (and the rest of the tracks on the 2015 FIA WEC calendar). Joining former Le Mans winner and longtime Ferrari test driver Marc Gene will be Super GT champion Tsuigio Matsuda as well as Harry Tincknell and Olivier Pla (both experienced from the largely Nissan-powered LMP2 field), Nissan factory driver Michael Krumm and GT Academy graduates Lucas Ordonez and Jann Mardenborough, both of whom have made their way into professional racing on the merit of their video gaming abilities. We'll be looking forward to watching them try to get the best out of this most innovative Datsun.