Like Its Partner Nissan, Renault Has Weak 2q, Lowers Revenue Forecast - Autoblog

Like its partner Nissan, Renault has weak 2Q, lowers revenue forecast - Autoblog

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%. The stock remains almost 19% below its level on the eve of Ghosn's Nov. 19 arrest in Tokyo.

Toyota, Suzuki Partner On Hybrids, Evs, Building Cars For Each Other

Toyota, Suzuki partner on hybrids, EVs, building cars for each other

NAGOYA, Japan — Toyota and Suzuki on Wednesday said they planned to produce electric vehicles and compact cars for each other to better compete with fast-changing technologies in the global auto industry. The agreement follows an initial R&D tie-up announced by Japan's No. 1 and No. 4 automakers in 2017, and will see more vehicles produced by Suzuki for Toyota, one of the world's biggest carmakers. Although Suzuki is far smaller, it is a dominant force in the fast-growing Indian market. The two automakers have been pooling their strengths. Toyota is a leader in hybrid technology and is investing heavily in automated driving, while Suzuki specializes in affordable compact cars — as many automakers struggle to keep pace with ballooning investment in EVs and self-driving cars. Under the latest agreement, Suzuki will source gasoline hybrid systems for cars it sells worldwide from Toyota, which pioneered hybrid vehicles with the Prius more than 20 years ago, the companies said in a joint statement. In return, Suzuki will produce two compact models for Toyota in India based on its Ciaz and Ertiga models. Further cooperation with Suzuki will help Toyota expand its presence in India, the world's fifth-largest passenger car market where it has struggled to grow sales due to lean demand for its lower-cost models. The deepening partnership between the two automakers will enable cost-conscious Suzuki to tap into Toyota's R&D firepower to develop lower-emission vehicles and self-driving cars — areas which Suzuki has admitted it is struggling to keep up. "We believe that the expansion of our business partnership with Suzuki ... will help give us the competitive edge we will need to survive this once-in-a-century period of profound transformation," Toyota President Akio Toyoda said in a statement. The two automakers will deepen their cooperation in India, where Suzuki's hybrid vehicles will be made using engines and batteries locally produced by Toyota. They will also join forces in Europe, where Toyota will produce electric vehicles based on its RAV4 SUV crossover and Corolla wagon for Suzuki, while Suzuki will supply Toyota with gasoline engines for compact vehicle models sold in the region. Suzuki will also produce its Baleno, Vitara Brezza, Ciaz, and Ertiga models for Toyota which will be rebranded and renamed as Toyota models for the African market.

India Pm Modi: Japan A Key Partner

India PM Modi: Japan a key partner

India's Prime Minister Narendra Modi will start his visit to Japan this weekend. Ahead of his trip, he sat down for an exclusive interview with NHK, where he expressed his desire to strengthen ties between the 2 nations.

Modi said he wants to work with Japan to help create a free and open Indo-Pacific region, adding that Japan is an essential partner.

Nintendo & Google Partner Up To Bring Mario Kart To Google Maps

Nintendo & Google Partner Up To Bring Mario Kart To Google Maps

Tomorrow will be the 10th of March, and for most people this will be just another day. However for fans of Nintendo's Mario franchise, you might know that tomorrow is also known as Mario Day, or rather because the 10th of March can also be written as MAR10 (Mario). To celebrate this, Google and Nintendo have teamed up for something special.

This something special will come in the form of Mario Kart racing onto Google Maps, where users will be able to drive around as Mario. Instead of the regular icon representing you on Google Maps, users now have the option of changing it where it will become Mario in his famous go-kart instead.

Nintendo, Bloomingdales Partner For Clothing & Accessories Line

Nintendo, Bloomingdales Partner For Clothing & Accessories Line

We're not sure how many of you guys out there want to rock clothing and accessories that are themed around video games, but if you do, you might be interested to learn that Nintendo and Bloomingdales have recently announced a partnership to launch a spring collection for clothing and accessories called "Let's Play".

This will include all kinds of clothing and accessories and even homeware, and will see designs from their partnered designers such as Marc Jacobs, Paul Smith, Gitman Vintage, and Sovereign Code. This is actually not the first time that Nintendo has launched fashion items themed around its franchises.

Comcast And Sony Partner To Bring Xfinity Tv Partner App To Sony Smart Tvs

Comcast and Sony Partner to Bring Xfinity Tv Partner App to Sony Smart TvsComcast and Sony today announced that Xfinity TV customers will soon be able to access their cable service via the Xfinity TV Partner app on Sony’s Android TVs. Beginning in 2018, Xfinity TV customers with Sony’s Android TVs will be able to enjoy live and on demand programming, including local broadcast and Public Educational and Governmental channels, as well as their cloud DVR recordings via the Xfinity TV Partner app. They will also enjoy the seamless design and rich programming data of the Emmy Award-winning X1 guide.

Mazda And Toyota To Partner On Connected-car Infotainment

Mazda and Toyota to partner on connected-car infotainment2018 Camry, next-gen Mazda 3 to debut new systems

Japanese automakers Mazda and Toyota are planning to collaborate on a inter-connected vehicle infotainment platform for their next-generation vehicles, according to a new report.

Following the two companies buying shareholdings in each other a month ago while announcing plans for a joint factory in the US and co-development of electric vehicles (EVs), the new article by Japan’s Nikkei claims the manufacturers are set to share a core platform for in-vehicle navigation, media, and smartphone connections.

Nissan And Bmw Partner Once Again To Expand Dc Fast Charger Access Across The U.s

Nissan and BMW partner once again to expand DC Fast Charger access across the U.S. to benefit EV driversNissan and BMW, two of the top EV manufacturers, have again joined forces – this time with EVgo, the nation's largest public DC Fast charging network – to increase public access to DC Fast charging stations across the U.S., with an additional 174 locations in 33 states now available to all EV owners in those markets, and over 50 more planned to be installed in 2017, supported by the partnership.

Honda Joins Hgtv Dream Home 2017 As Exclusive Automotive Partner

Honda Joins HGTV Dream Home 2017 as Exclusive Automotive PartnerHonda and HGTV® today announced that Honda is the exclusive automotive partner of the HGTV® Dream Home 2017 Giveaway, with a Honda Pilot Elite now part of the prize package along with a spectacular new home on St. Simons Island, Georgia and a cash prize of $250,000. Entering its 21st year, HGTV's popular Dream Home program annually awards one lucky family with a unique American home.

Renault-nissan And Microsoft Partner To Deliver The Future Of Connected Driving

Renault-Nissan and Microsoft partner to deliver the future of connected drivingThe Renault-Nissan Alliance and Microsoft Corp. have signed a global, multiyear agreement to partner on next-generation technologies to advance connected driving experiences worldwide.
The companies will work together to develop next-generation connected services for cars powered by Microsoft Azure, one of the company's intelligent cloud offerings. These new services will improve customer experience via advanced navigation, predictive maintenance and vehicle centric services, remote monitoring of car features, external mobile experiences and over-the-air updates.