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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%.

Nissan reveals radical BladeGlider concept for Tokyo debut

Radical reinvention of the automobile doesn't happen very often. There's a reason they refer to it as "reinventing the wheel", after all. But that's what a team of racecar designers did with the original DeltaWing concept in 2010. Originally proposed as an IndyCar racer, the project was subsequently redesigned for Le Mans. That's when Nissan got on board, supported the project for a few races, then took the design in its own direction with the ZEOD RC. And now it's taking it to the road... via the auto show.
What we have here is the BladeGlider concept, a proposal for a delta-shaped electric sportscar which Nissan will present at the Tokyo Motor Show in a couple of weeks. Designed to focus on driving pleasure, the BladeGlider is about as radical as they come. Like the DeltaWing and ZEOD RC, it's got a narrow front track and wide rear to minimize drag and optimize stability, packing a 1+2 seating arrangement to put the driver front and center like in a McLaren F1, with upward-swinging doors and underbody aerodynamics to keep it glued to the road. In-wheel motors (of unspecified output) provide the power, a lightweight lithium-ion battery (not to mention the carbon-fiber bodywork) keeps it all fearther-like, and weight distribution is heavily biased towards the rear at 30:70.
A radical concept, to be sure, but here's the kicker: Nissan wants to build it. As you can see from the press release below, the BladeGlider "is both a proposal for the future direction of Nissan electric vehicle (EV) development and an exploratory prototype for an upcoming production vehicle". While it would undoubtedly take some time to develop, much less certify for road, seeing one of these - or even better, driving one - on our favorite stretches of tarmac strikes us as a prospect worth waiting for.

Nissan, Mahindra may bond over EVs

Like Lloyd in Dumb & Dumber rejoicing that he's got a "one out of a million" chance with Mary Swanson, electric-vehicle advocates in India can do the same. That's because both local automaker Mahindra and Japan-based Nissan say they would consider working together to promote EVs in that country. Executives with Nissan and Mahindra, which makes the Reva e2o EV, independently told Autocar Professional that they would consider collaborating with the other company in order to speed up plug-in vehicle adoption in India. Nissan, which already works with companies such as Honda, Mitsubishi and Toyota to various degrees, said this collaboration would most likely revolve around electric-vehicle charging infrastructure advancements, a move that obviously helps all plug-in vehicles. Of course, nothing official has been announced. Last March, the Mahindra Reva e2o, which costs the equivalent of about $11,000, went on sale in India, with the company estimating at the time that it could manufacture 30,000 of the electric vehicles each year. In February, Mahindra debuted two electric cars at the New Delhi Auto Show, including the Mahindra Reva Halo EV concept sports car and the Mahindra Racing Formula E electric race car. The following month, India's Financial Express reported that Mahindra was targeting Sri Lanka and Norway for e2o sales. That car has a 62-mile single-charge range and a top speed of about 60 miles per hour. Featured Gallery Mahindra Reva E2O News Source: Autocar Professional via Cartrade.comImage Credit: Copyright 2014 Gisli Gislason Green Nissan Electric mahindra collaboration