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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 Sentra, Buick LaCrosse to headline LA Auto Show

We're less than a month away from the start of the Los Angeles Auto Show, and automakers have been lining up their debuts for the upcoming left-coast expo. The latest announcement comes from the show's organizers who are eager to tout the global debuts slated for next month. Chief among them will be new versions of the Buick LaCrosse and Nissan Sentra. So far all we've seen of the 2017 LaCrosse is a glimpse at the front grille, but it's already promising to bring elements of the Avenir concept to the street. The original LaCrosse was launched in 2004 and was replaced in 2010 with the current model. The Sentra nameplate has been around much longer, but the current model was launched more recently in 2013. The new version spied recently while undergoing testing is promised to be a substantial update on that model, not a complete replacement, bringing it up to speed with the latest equipment and revised styling. This represents the first official confirmation we've received of when Nissan will be unveiling the new Sentra. Mitsubishi will also be on hand with its new Outlander Sport, as well as the redesigned Mirage. They'll be joined as well by new versions of a couple of high-end models that promise to resonate with the local crowds in tinseltown. Land Rover has chosen the LA show as a suitable venue to unveil the production Range Rover Evoque Convertible that will drop the top on one of the most stylish luxury crossovers on the market. And Porsche, as we know, is gearing up to hit the track with the new Cayman GT4 Clubsport - a customer racing version of the company's little two-seat, mid-engined sports car that's been lightly modified for motorsport competition. Of course these won't be the only new metal on display at the Californian auto expo. They'll be joined as well by the likes of the new Infiniti QX30, Hyundai Elantra, Kia Sportage, and Jaguar F-Pace - many of which we've already seen. Meanwhile companies like Fiat, Ford, Mazda, Mercedes, Subaru, Volvo, Volkswagen, and Elio Motors are keeping their plans under wraps for the time being. But with mere weeks to go, it won't be long before we see what they've got in store as well.

Automakers can, and do, use your private information however they want

The first paragraph of Mozilla’s *Privacy Not Included" buyerÂ’s guide about car privacy issues is worth repeating here: “Ah, the wind in your hair, the open road ahead, and not a care in the world Â… except all the trackers, cameras, microphones, and sensors capturing your every move. Ugh. Modern cars are a privacy nightmare.” “Ugh” may be an understatement. The crux of the matter is control: The nonprofit Mozilla Foundation has found that vehicle manufacturers have collected tons of “private” data from vehicle operators, thanks to the proliferation of sensors and cameras and smartphones connected in and to cars. In its report, Mozilla found that 25 car brands all failed the consumer privacy tests it carried out. Its research found that 84 percent of car companies review, share or sell data collected from car owners, and that the information was used for reasons unrelated to the operation of a vehicle or to a car brandÂ’s relationship with its owners. And beyond that, the report says that many companies — more than half — “say they can share your information with the government or law enforcement in response to a 'request.' Not a high bar court order, but something as easy as an 'informal request.'” Some other points made by the foundation: — Six car companies can collect intimate information, including a driverÂ’s medical information and genetic information. Plus info about how fast a person drives and the songs he listens to in the car. — Nissan earned its second-to-last spot (Tesla, not surprisingly, was worst) “for collecting some of the creepiest categories of data we have ever seen": In an apparent attack of full disclosure, Nissan said that it can share “inferences” drawn from the data to create profiles “reflecting the consumerÂ’s preferences, characteristics, psychological trends, predispositions, behavior, attitudes, intelligence, abilities, and aptitudes.” It also collects information about “sexual activity.” It's not clear how they can do that, but in their privacy notice they say they could. Not to be outdone, the report says, “Kia also mentions they can collect information about your 'sex life' in their privacy policy.” — Only two of the 25 brands reviewed, Renault and Dacia, stated that drivers had the right to delete their personal data. The brands are headquartered in Europe, where consumers are protected by General Data Protection Regulation privacy laws.