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Renault plans $2.2 billion 'no taboos' cost cutting after first loss in a decade

PARIS — Renault's first loss in a decade triggered a no-taboos commitment on Friday to cut costs by 2 billion euros ($2.2 billion) over the next three years as the automaker tries to put the Carlos Ghosn affair behind it. As ex-Volkswagen brand manager Luca de Meo prepares to take over as chief executive of the French automaker, which has been rocked by the Ghosn scandal, it did not exclude job cuts in a promised review of its performance across all factories. Like many auto industry rivals, including its alliance partner Nissan, Renault is grappling with tumbling demand in key markets like China, and said it expects the sector to be hit further this year, including in Europe. Nissan this week had its first quarterly loss in nearly 10 years and cut its operating profit forecast. In a reflection of this sobering assessment of the market outlook, Renault set a lower operating margin target of between 3% and 4% for 2020, down from 4.8% in 2019, and cut its proposed dividend against 2019 by almost 70% from a year earlier. While Renault faces high investment costs to produce cleaner car models and supply chain problems due to China's coronavirus outbreak, a major challenge remains moving on from the scandal involving former boss-turned fugitive Ghosn, which strained its relations with Nissan and paralyzed joint projects. "It has been a tough year for Groupe Renault and the alliance," acting Chief Executive Clotilde Delbos said on a conference call, adding that the broader autos downturn had hit the company "right when we were facing internal difficulties." Renault could not afford to wait for De Meo's arrival in July to attack costs, Delbos said, adding that nothing would be "taboo" as it reviews its business. Meatier goals would be made public in May, she said, alongside joint plans with Nissan, as executives repeated assurances that the alliance was on track. Delbos also stressed that Renault's automotive operational free cash flow, under scrutiny from analysts, would be positive in 2020 after stripping out restructuring costs. "We're very confident that there is no topic on cash availability within the group," Delbos said. Renault shares recovered from falls in early trading, and were up 1.8% at 1200 GMT despite it posting a loss of 141 million euros ($153 million) for the group share of net income.

Nissan to expand next-gen Titan with more engines, configurations

Not much has changed with the Nissan Titan in the decade that it's been on the market, but the 2015 model year could move the needle enough to turn the truck from an "also ran" in the fullsize truck market to more of a contender. Edmunds had the chance to sit down with Pierre Loing, vice president of product and advanced planning and strategy for Nissan North America, who indicated that not only will a new truck be coming for 2015, it is also expected to take a bigger chunk of the truck market currently dominated by Ford and General Motors.
For starters, the article quotes Loing saying that the next-gen Titan could sell 100,000 units, which is almost five times the number of Titans and the same number of Toyota Tundra trucks sold last year. To accomplish this, Nissan is planning to offer a wider number of models (including a regular cab version) and more powertrain options; we're sure this means Nissan is considering offering a V6. The addition of a regular-cab, V6 Titan would also allow this truck to be more competitively priced.
Will that be enough to attract buyers away from the Big Three domestic trucks? We'll just have to wait and see...

2016 April Fools' Day: Morgan digs at Tesla, Mini's scissor doors, more

Every year automakers go out of their way to come up with gags for April Fools' Day. Sometimes the jokes fall flat, but occasionally a company really nails it with an idea that we'd actually love to see. Rather than scouring the Web for all of these stunts, you can find some of our favorites right here. Morgan MOGrod The Morgan Motor Company's MOGrod is one of our favorite April Fools' jokes so far this year because it's a car we wish could be real. The company says on Twitter that the retro hot rod uses a 3.7-liter Ford V6, and there are already 250,000 preorders, which is a play on the huge number of reservations for the Tesla Model 3. Morgan took the joke even further by sketching a landspeed record version for the Bonneville Salt Flats. Mini Scissor Doors The people at Mini apparently have a lot of free time because the company has two gags this year. The first is the scissor door option. The idea cleverly plays on the myriad ways customers can customize their Mini, but this solution doesn't look like anyone could easily enter the car due to the way these doors open. Mini Hipster Hatch There's also the Hipster Mini, which is a much funnier idea. This fictional hatchback would be perfect for fashionable Millennials thanks to features like Instagram-filter windows and a fixed-gear drivetrain, which limits the top speed to 25 miles per hour. The interior uses stonewash denim upholstery and packs a twin-deck cassette player. Skoda Dog Umbrella People love dogs, and owners know that a wet canine can be a mess. Skoda is ready to tackle this problem with an umbrella for your mutt. Made from unobtainium, the gadget hides in the door when not in use, but when raindrops start falling, people can keep their pup dry. Skoda Snowman Skoda's Facebook page also teases us with a very cool vehicle. The Snowman is a 396-horsepower plug-in hybrid snow machine. With its tracks, the company's newest model would never have to worry about getting stuck in the winter. Opel Adam C Sure, electricity and hydrogen are cleaner forms of fuel than gasoline or diesel, but Opel has a way to make your car even more environmentally friendly – muscle power. Wind up the crank at the rear for 15 minutes, and the Opel Adam C is good for 125 miles. GM's European division also claims that owners get a great workout because a full winding session burns 400 calories. You wouldn't feel guilty about picking up that pizza after cranking up this hatchback.