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Renault gets a 'wake-up call' — a record $8.6 billion loss

PARIS — French carmaker Renault said it had been given a wake-up call on Thursday with a record net loss of 7.29 billion euros ($8.6 billion) in the first half of the year, inflicted by the COVID-19 crisis and troubles at its alliance partner Nissan. Global automakers have been hit hard by the coronavirus pandemic, which has shuttered factories and kept many customers away from car dealerships. But the Renault-Nissan alliance has been hit especially hard as it was already weakened by low margins and boardroom turmoil surrounding Carlos Ghosn, the architect of the alliance who was ousted in 2018. Renault shares were down 3.3% when trading opened in Paris. "Today's results will be a disturbing wake-up call," CEO Luca de Meo, the former Volkswagen executive who started at Renault this month, said on a call with analysts. "We are currently touching the bottom of a negative curve that started several years ago, and probably even earlier," de Meo added. "We are in a complex, difficult situation. We all are. But ... we were already, I would say, feverish. So for sure it is even harder for us." De Meo said the company would now double down on a previously announced turnaround plan, laying off thousands of workers, reducing the range of models, and improving cooperation between alliance partners on vehicle production. He said a team of 40 senior executives from across Renault was cloistered on the top floor of the company's headquarters in Boulogne-Billancourt near Paris, working on details of a strategic plan which will be presented in January at the latest. He said his focus would be pushing the Renault brands that can deliver profits — especially compact cars, SUV crossovers, and electric and hybrid vehicles — and shifting emphasis from volume to value. "We know what we need to do," de Meo said. "Better times are waiting at the end of this twisty road." Renault said group operating losses, factoring out the effect of Nissan's losses, reached 2 billion euros in the first half, compared with operating income of 1.5 billion last year. Sales slumped 34.9%, a result the company attributed mainly to the global COVID crisis and Renault burned through $6.38 billion in cash over the first half. Nissan Motor Co this week warned of a record $4.5 billion operating loss this year and its lowest sales in a decade. Its negative contribution accounted for 4.82 billion of Renault's net losses, the French firm said on Thursday.

Nissan Z Proto, next-gen Hyundai Tucson and a hi-po mystery Bronco | Autoblog Podcast #645

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Editor, Green, John Beltz Snyder and News Editor Joel Stocksdale. In the news this week, Ford has teased some sort of high-performance Bronco, Nissan unveiled the Z Proto, Hyundai revealed the next-gen Tucson and GMC teased the Hummer EV's "Crab Mode." Our editors break that all down for you, and share some insights and opinions before they turn to the cars in their own driveways. This week, they've been spending time with the 2020 Mercedes-AMG G 63, as well as the 2020 BMW Alpina B7. Autoblog Podcast #645 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Ford's beefed-up Bronco prototype stars in new teaser photo Nissan Z Proto previews the retro, rear-drive, turbo, manual future of the Z All the Nissan Z cars that got us to the Z Proto 2022 Hyundai Tucson debuts with striking styling inside and out GMC Hummer teases crab mode, reveal set for Oct. 20 Cars we're driving: 2020 Mercedes-AMG G 63 2020 BMW Alpina B7 Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video:

Nissan installs 1,000th CHAdeMO fast charger in Europe

While the European Union hasn't been very supportive of CHAdeMO stations, the fast chargers are seeing significant growth in the European electric vehicle (EV) infrastructure, with Nissan installing number 1,000 at the Roadchef Clacket Lane Services in Surrey, UK recently. In the past year, the number of CHAdeMO fast chargers nearly doubled in Europe, starting from about 600 stations in early 2013, and that's helping make EVs more useful. Nissan says that installation of a CHAdeMO station along Norway's E18 highway increased EV use eightfold there in the 18-month period after that station was installed. The new CHAdeMO station in the UK is available to use for free and, like other CHAdeMO stations, can charge a Nissan Leaf or other compatible EV up to an 80-percent charge in just under 30 minutes. Japanese automakers like Nissan and Mitsubishi are dedicated to the CHAdeMO but German and US automakers continue to support a competing technology in Europe and abroad, the SAE Combo DC fast charger. Tesla Motors has covered all the bases as it rolls out its $1,000 CHAdeMO adapter for its Supercharger stations. Nissan worked with Ecotricity, a UK green energy firm considered to be a pioneer in EV charging, for the Surrey installation. Nissan says that installing it on the M25 highway south of London helps EV drivers gain easy access to Kent and onward into Europe on one of the busiest roads in Europe. That will help drivers of the Leaf and the upcoming Nissan e-NV200 electric van to quickly extend their journeys, said Jean Pierre Diernaz, Nissan's director of electric vehicles, in the press release available below. 1,000th CHAdeMO standard quick charger installed in the UK UK has 18% of Europe's electric vehicle quick chargers Charger provides free, zero carbon electricity from Ecotricity Chargers recharge electric cars from 0-80% in 30 minutes Nissan has announced 1,000 CHAdeMO quick chargers have now been installed in Europe with the commissioning of the charger at the Roadchef Clacket Lane Services in Surrey, UK. The fast charging unit can recharge the batteries of compatible* electric vehicles - including the 100% electric Nissan LEAF - from zero to 80 percent charge in just 30 minutes, and at zero cost. The installation of the fastest type of chargers dramatically increases the uptake and usage of electric vehicles.