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Fiat contemplating sub-brand to compete with Dacia, Datsun

You can add Fiat to the admittedly short list of automakers considering a low-cost brand to rival Dacia. The inexpensive Eastern European brand from Renault-Nissan has performed on the balance sheet like a premium model line, and the money the alliance is taking off the table is encouraging other players to deal themselves in. Pretty soon Nissan's Datsun sub-brand will join the Dacia party, going on sale in Russia, Indonesia and India and will claim even more rubles, rupiahs and rupees for the parent company. Volkswagen recently said it will make a decision this year on a budget line for the Chinese market. With the euthanasia of Lancia and plans to move the Fiat brand upmarket, company CEO Sergio Marchionne wonders aloud to Automotive News Europe whether there could be room for a new budget brand underneath Fiat.
We're told that the initiative has been in the idea box for five years and even moved to the stage of name considerations, like Innocenti, but worries about profit kept it from realization. If such a range were to be developed, Marchionne says it couldn't be built in Italy and stay within budget, and the company is "analyzing its manufacturing capacity outside of Europe to see if a low-cost brand is viable."

Nissan gets it on with the loud "Karaok-e" van concept

With a minivan, you can pack it with a half dozen friends to shuttle them to a big party. But that involves some boring time in traffic. With the Nissan Townstar Karaok-e you can skip that boring step because the van is the party. That’s the idea behind Nissan's modified Townstar Evalia is a one-off project recently shown in Europe. ItÂ’s an exercise that transforms the van into a mobile karaoke lounge. The bulk of the modifications are in the rear of the van. A 32-inch video monitor for graphics and lyrics is the centerpiece along with the exotic sound system. There are also fancy lights in the ceiling and the cabinetry, and they're synchronized the to the beat of the music. There's no mention in the press release if the van comes with a “donÂ’t dance while driving” warning. This all-electric seven-seat Townstar Evalia—which Nissan rather cosmically claims is intended to inspire “well-being and happiness”—further features a number of apps that allows passengers to show off their vocal chops, record their performances, and share them on social media platforms. The brand hasnÂ’t ignored the exterior, which features a juicy wrap enhanced by a couple of hashtags. The neon-like roof attachment would almost certainly have impressed Donna Summer. The Townstar Evalia in Europe shares close ties with the Renault Kangoo van. It comes in a long wheelbase configuration with options for five or seven seats and is available with either fully electric or gasoline powertrains. Nissan offers no hint that this particular Townstar variant might enter serious production, and we doubt that even a groundswell of interest from the public would get the company to start building them. But we bet there are limo services that might be interested, and certainly some upfitters that could put together something similar. Of course, that's as long as said customer has the will and the means.  

Renault selling part of Nissan stake to partner for $824 million

Renault SA is selling around 5% of its stake in partner Nissan Motor Co., offloading the stock as part of a share buyback by the Japanese carmaker.  The move follows last month’s finalization of a plan for Renault to reduce its interest in Nissan. The stake sale is valued at around ˆ765 million ($824 million), but will result in a capital loss of ˆ1.5 billion, the French company said Tuesday.  Eventually, the two carmakers aim to equalize their cross-shareholdings at 15%, loosening the ties that kept them together in a carmaking alliance for two decades. The partnership between Nissan and Renault was jolted in 2018 by the arrest of Carlos Ghosn, chairman of both companies. Since then, they have drifted apart and are now charting separate paths. Given that NissanÂ’s shares are trading below the Tokyo Stock ExchangeÂ’s guideline of maintaining a price-to-book ratio above 1, the buyback will “help improve the situation,” said Bloomberg Intelligence analyst Tatsuo Yoshida. The cash will bolster Chief Executive Officer Luca de MeoÂ’s efforts to get Ampere, RenaultÂ’s electric-vehicle and software arm, going as he seeks to split off the unit and list it as a separate public entity as soon as April or May. Nissan has also agreed to invest in Ampere. Renault transferred its 28.4% stake in Nissan into a trust in early November to pave the way for a reduction of its holding. Even so, there will still be lock-up and standstill obligations. De Meo said last month that Renault would begin offloading the stake “very soon” in early 2024, so TuesdayÂ’s announcement was slightly earlier than anticipated. For Nissan, the buyback is well within the value of cash and equivalents, which stood at JPY1.6 trillion ($11 billion) yen at the end of September. Nissan said it will cancel all acquired shares.  “ItÂ’s good news for the stock that Nissan will retire the equivalent of 5% of its outstanding shares,” Yoshida said.  The Japanese carmaker is paying JPY568.5 for each share, the price at the close of trading in Tokyo on Tuesday. While NissanÂ’s stock has climbed 36% this year, itÂ’s at roughly half of its value from early 2017. Earnings/Financials Nissan Renault