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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.

2021 Hyundai Elantra vs. compact sedans | How they compare on paper

Despite the rising popularity of crossovers, the sedan market remains packed and fiercely competitive. It looks like it will stay that way with the introduction of the strikingly redesigned 2021 Hyundai Elantra. And since Hyundai was kind enough to provide plenty of specifications on the new car, we figured we ought to see how it stacks up to some of the latest and greatest small sedans on the market. For this comparison we picked the two best-sellers, the Honda Civic and Toyota Corolla, one of the other recently redesigned sedans, the Nissan Sentra, and a perennial enthusiast favorite, the Mazda3. Below you'll find a chart with all the raw numbers for your perusal. Following that will be our usual break down and analysis of the numbers and any other noteworthy features not included in the chart. Performance and Fuel Economy While the design and chassis are all-new on the Elantra, the base powertrain isn't. It uses a version of the naturally aspirated 2.0-liter four-cylinder shared throughout the Hyundai and Kia line-ups, and it's again paired with a CVT. With 147 horsepower and 132 pound-feet of torque, it's the second least powerful entry for conventionally-powered sedans, only ahead of the sluggish 1.8-liter base engine in the Toyota Corolla. For those looking for a peppy small sedan, the Mazda3's naturally aspirated 2.5-liter has the most power and torque, even ahead of the turbocharged Honda Civic's 174 ponies. On the other hand, the Elantra, which Hyundai says will have better fuel economy than the outgoing model, should get at least 36 mpg combined, and probably better, making it the most efficient non-hybrid of this group. For the best blend of power and efficiency, the Civic is likely the way to go, as its turbo engine can return 36 mpg combined in lower trims. If you want a manual transmission in this body shape, only the Civic and Corolla offer it. A manual transmission is available on the Mazda3 hatchback, and the turbo Civic can also be had with a manual in hatchback or Si forms. A new powertrain for the Elantra is the hybrid. It's unique compared to other hybrids in that it's coupled to a six-speed dual-clutch transmission, rather than an electronically controlled CVT (which is not the same thing as a CVT) or something too complicated to describe in this sentence (the Honda Insight).

2015 Nissan Juke keeps its funky

The Nissan Juke is one of the most polarizing vehicles on the road today, but that doesn't mean it hasn't been a sales success, especially in Europe. Nissan is giving the the CUV its first styling refresh at the Geneva Motor Show. While the design changes will almost certainly be universal, the mechanical changes are still somewhat of a mystery for the US market. Nissan makes it clear in its press release below that it covers only the European model, and details about the North American model are coming later.
The exterior changes put a focus on making the Juke look a bit more angular and sporty. The lights on the fenders are now formed into a jagged point and somewhat echo the boomerang-shaped taillights. It also features Nissan's new, thicker V-shaped chrome grille. The door mirrors receive LED turn signals, and the lower portion of the rear receives a simulated mesh grille to look more aggressive. Other than some new color schemes, the interior is basically unchanged. However, the luggage area has been reshaped to increase storage capacity by 40 percent to 12.5 cubic feet (354 liters).
European buyers are getting a new 1.2-liter DIG-T turbocharged engine with 113 horsepower (115PS) and 140 pound-feet of torque (190Nm), and the 1.6 DIG-T also gets an increased compression ratio to produce 188 hp and is offered with either a six-speed manual or Nissan's Xtronic CVT. The all-wheel-drive system has also been upgraded with a torque vectoring system.