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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 e-NV200 electric van will start FedEx testing in DC

The electric van test program that Nissan and FedEx announced today at the Washington Auto Show isn't really all that new. After all, FedEx is already testing the all-electric e-NV200 in Singapore, Japan and Germany. The news today is that FedEx will be one of the first companies to test the EV in the US, and Nissan brought a prototype to the show to gin up interest. 200 CHAdeMO stations were added in December, a monthly record. The e-NV200 uses a powertrain similar to what's in the Nissan Leaf and weighs about the same as that passenger car, but Nissan isn't talking about US performance figures quite yet. Nissan isn't even saying if the vehicle will even come to the US, but this test program sure hints that something like that is in the works. For now, all that's official is that Nissan will bring two - yes, just two - e-NV200 units to the US, letting FedEx test one in the Washington, DC area for between six to eight weeks before cycling the EVs to other companies in the US over the next year. The idea, as you may have guessed, it to gather data on how companies might use this van and let Nissan figure out if it wants to sell the e-NE200 here. The van will start being built in Barcelona, Spain this spring and is currently intended for Europe and Japan. FedEx is no stranger to greener vehicles, and has 167 EVs in its US fleet right now. Read more in the press release below. The e-NV200 can use CHAdeMO fast charging, and Nissan said today that it has helped install 570 of those DC fast chargers in the US since announcing expansion plans last year. At the time, the target was 500 chargers in 18 months, so things are progressing faster than publicly anticipated. In fact, 200 CHAdeMO stations were added in December, a monthly record. Jan. 22, 2014 Nissan and FedEx Express Put All-Electric e-NV200 to Work in Collaborative U.S. Test WASHINGTON, D.C. - FedEx Express, a subsidiary of FedEx Corp., and Nissan announced today at the Washington Auto Show that the two companies will begin testing the Nissan e-NV200, a 100 percent electric compact cargo vehicle, under real world conditions in Washington, D.C. This test marks the first time the vehicle will be running in North America. FedEx Express and Nissan have conducted similar e-NV200 tests with fleets in Japan, Singapore, the United Kingdom and Brazil. FedEx and Nissan are both committed to reducing the environmental impact of their operations worldwide.

Where the 2023 GMC Sierra AT4X fits into the hierarchy of off-road trucks

The world of off-road pickups sure seems like it's getting crowded, but the reality is that half-ton trucks were always pretty capable, even with what seemed like fairly basic 4x4 packages. It wasn't until recently that manufacturers really started to carve out different off-road niches for their mainstream pickup offerings. With the introduction of the 2022 GMC Sierra 1500 AT4X (alongside its mechanical twin, the Chevy Silverado ZR2), the crowd has grown even thicker. Even we have trouble keeping up with the increased segmentation of off-road pickup trucks, so we threw together this handy guide to help you understand just where these various packages fit into the broader pickup hierarchy. Let's dive in.  Your basics If we say "Z71" or "FX4" to you, both will probably ring a bell. That's because they've been around a few days short of forever and their respective customers have grown so used to these package codes that OEMs got into the habit of just plastering them on the side of so-equipped truck beds. Anybody who sells a pickup truck offers some sort of basic off-road prep package like this one. Z71 is found on GM vehicles; FX4 is Ford's. Ram just calls it "Off Road Group," but no matter what you call them, they're all pretty similar.  Typical upgrades for this category include some additional ground clearance, a basic all-terrain tire, heavy-duty suspension upgrades and likely either a limited-slip or locking rear differential. These are pretty handy for anything beyond a rutted dirt road. On newer trucks — especially on higher trim levels — you'll probably also get some dedicated off-road drive modes.  Mid-range This is where things start to get interesting. To qualify for this category, a locking rear differential is a must. Most of the names in this segment are well-established too, though some (Nissan Titan Pro-4X, anyone?) may not necessarily be on your radar. The Toyota Tundra TRD Pro checks in here, as does the Ram Rebel, Chevy Silverado Trail Boss and GMC Sierra AT4 (no X!).  Realistically, if there's somewhere you need to go and one of these trucks won't do it, you might want to consider a helicopter. But it's 2021, and our thirst for capability is strong, so of course, there's a way to spend more of your money on this type of thing. Onward! Entry-hardcore Here we are, the home of the new 2022 GMC Sierra AT4X and Chevrolet Silverado ZR2. This is a tiny niche, otherwise occupied only by the Ford F-150 Tremor.