2013 Nissan Versa Sv Sedan Tan W/ 17,000 Miles & Spoiler on 2040-cars

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With Nissan dragging it down, Renault predicts a worsening year

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%.

Nissan Resonance Concept gives glimpse of next Murano

The Nissan Resonance Concept has bowed at the 2013 Detroit Auto Show, giving the world a glimpse at the company's future design direction for crossovers. Specifically, the concept heralds what the next-generation Murano may look like once it touches down. Nissan has already confirmed the successor to the big crossover's throne will be produced in Mississippi for the first time. With a "floating" roof and dynamic head lamp arrays, the Resonance boasts a far more athletic appearance than the snub-nosed current generation. Inside, designers worked up a cockpit aimed at conveying what "the future of first-class space travel might be."
Nissan isn't saying what the upcoming Murano will have under the hood, but the Resonance boasts an all-wheel-drive hybrid powertrain with a small-displacement internal combustion engine and an electric motor. A lithium-ion battery delivers power while a CVT takes care of putting power to the wheels. Take a look at the full press release below for more information.

Recharge Wrap-up: Nissan 'No Charge' in Denver, A123 doubles

Nissan has introduced its "No Charge To Charge" program in Denver, Colorado. As of June 2, customers who buy their new Nissan Leaf from certified dealers in the metro Denver area will get two years of free charging. Denver is the 16th market to offer "No Charge To Charge," with a total of at least 25 US markets scheduled to offer the program by the end of the year. "EV charging infrastructure continues to grow in Denver," says Nissan EV Sales and Marketing Director Andrew Speaker, "and access to free public charging for new Leaf buyers helps make owning an all-electric vehicle even more cost-effective and convenient." Read more in the press release below. Wanxiang is investing $200 million in A123 Systems in order to double its lithium-ion battery production. The combined capacity of its three production facilities in Michigan, Hangzhou, China and Changzhou, China will increase from 750 megawatt-hours to 1.5 gigawatt-hours in the next three years. The increased capacity will help support customers building hybrids, passenger EVs, and commercial vehicles. Included in the expansion is the capacity to build 12-volt starter batteries and 48-volt microhybrid systems. "It's been a tremendous turnaround," says A123 CEO Jason Forcier, referring to the company's 2012 bankruptcy. Forcier also says the company is already planning another expansion when this one is complete. Read more at Automotive News, and in the press release from A123. The Royal Hashemite Court of Jordan is ordering 150 Zoe EVs from Renault. King Abdullah II of Jordan signed an agreement with Renault, who will deliver the cars by the end of the year. The cars will be powered completely by solar energy generated on royal property. The order of the 150 Zoes is the largest since 2013, and makes Renault the largest provider for Jordan's royal EV fleet. Renault says that further EV orders are already being discussed. Read more in the press release from Renault-Nissan. Beijing, China will exempt electric vehicles from its limits to vehicles on roads during rush hour. Current policy, designed to help alleviate traffic and air pollution, restricts cars with even and odd license plates from rush hour traffic on alternating days. The exemption for EVs runs from June 1, 2015 until April 10, 2016. It is the newest in the list of perks meant to encourage EV adoption, despite the troublesome lack of charging infrastructure. Read more at Green Car Reports.