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Renault-Nissan alliance reboot will kick off with five projects

Renault SA and Nissan Motor Co. are moving ahead with a plan to recalibrate a two-decades-old alliance that had weakened over time, starting with a range of industrial projects alongside an agreement to rebalance capital ties, according to people familiar with the situation. Top executives from the alliance partners held an operating board meeting on Thursday, giving a nod to bringing Nissan and Renault’s cross shareholdings to an equal level, as well as common projects as part of the reshaped cooperation, the people said. The partners also agreed on an alliance event to be held on Feb. 6 in London to present details of the plans, the people added, declining to be named discussing details before they are public. Under the landmark plan, Renault is expected to cut its 43% stake in Nissan to 15% via an orderly disposal of shares over time to eliminate lopsided capital ties that have been a source of friction for years. The tentative agreement comes after years of tension that at one point spilled over into Japanese-French politics when Renault-NissanÂ’s then-leader Carlos Ghosn weighed to merge the two companies.   The partners also agreed to continue collaborating on various industrial projects, a condition that was crucial for Renault to obtain approval for the rebalancing from its most powerful shareholder, the French government. Media representatives for Renault and Nissan declined to comment. The boards of directors of the respective companies will have to approve the agreement in meetings to be held in coming days, the people said.  Code name: ‘ReloadedÂ’ The redesigned alliance will allow Chief Executive Officer Luca de Meo to move on with a complex split of Renault into five separate businesses, including carved-out electric-vehicle business Ampere and to deepen ties with a series of other partners, including ChinaÂ’s Zhejiang Geely Holding Co. and Qualcomm Inc., the people said. “The interest for each of the partners is now to be able to move forward without, for example, RenaultÂ’s management getting distracted in endless trans-national politics,” says Stifel analyst Pierre-Yves Quemener. Failure of the talks would have been “a negative,” Quemener said.  Renault, Nissan and junior partner Mitsubishi Motors Corp. will embark on roughly five projects initially, codenamed “Reloaded,” with others to follow, the people said.

Pontiac Aztek enjoys rebirth thanks to Millennials

Apparently, Millennials – those between 18 and 34 – aren't afraid to look different on the road, and they like performance, too. A new study by Edmunds is discovering some surprising vehicle choices by this group. Among them, the long-derided Pontiac Aztek is getting a new day in the sun with 25.5 percent its buyers coming from this generation in the first half of 2015. For comparison, Millennials represent an average of 16.8 percent of used car purchases. The Aztek is slowly shaking its reputation as a styling abomination, which seems tied to its appearance on Breaking Bad. The show premiered in 2008, and the Pontiac has been on this list for four of the past five years, according to Edmunds. It even led the pack in 2010. A recent Retro Review from MotorWeek also showed that the crossover wasn't always so hated. While it's still a shock to see the Aztek on any popularity list, the awkward-looking crossover only ranks sixth among Millennials. The vehicle with the biggest portion of buyers from the generation is the Dodge Magnum with 27.6 percent. According to Edmunds, the bluntly styled wagon is especially popular in Detroit and Chicago. The Chrysler Pacifica comes in a close second at 27.3 percent. When it comes to used cars, value and utility appear to trump just about anything else for many Millennial buyers," Edmunds analyst Jeremy Acevedo said in the report. Young buyers aren't afraid of sporty rides, either. The Subaru WRX has 26.4 percent Millennial buyers to rank third place on the list, and the Volkswagen R32 takes fifth at 25.7 percent. Just a few points lower in seventh place is the Nissan GT-R at 25.4 percent, and the final performance machine in 10th place is the Lexus IS-F with 24.7 percent. Related Video:

Car theft skyrockets thanks to rising parts prices

Cars and trucks today have achieved a high level of average quality, with safety and technology features that keep occupants safer than ever and meet consumers' high expectations. But the National Insurance Crime Bureau finds that those components come with a rising price tag, leading to expensive repair bills — and rising vehicle thefts to support a thriving black market for parts. The nonprofit NICB said it looked at the cost of replacement parts for the top 10 stolen 2016 models, with average OEM part prices pulled from a database of more than 24 million vehicle damage appraisals generated for 2016 and 2017 insurance claims. The list did not include major components like engines or transmissions, only easily-stripped components like bumpers, doors, hoods and headlights. It found that: The 2016 Toyota Camry, which had a used market value of around $15,000, had 15 commonly replaced parts that added up to almost $11,000, not including labor, with quarter panels alone costing almost $1,600 a pair and a set of alloy wheels tallying more than $1,600. The Camry was also the top stolen vehicle in 2016 at 1,113 thefts. A 2016 Nissan Altima had 14 standard parts worth more than $14,000, including a single headlamp assembly that costs just over $1,000. The Altima was the second-top stolen vehicle in 2016 at 1,063 vehicles stolen. And the 2016 GMC Sierra pickup, which was No. 7 on the 2016 top-stolen list, rang up $21,000 from 20 standard components, including an $1,100 headlamp assembly and an $1,100 rear bumper. "For the professional theft ring, stealing and stripping vehicles for parts has always been a lucrative business," Jim Schweitzer, NICB's senior vice president and chief operating officer, said in a statement. "On today's cars and trucks, the parts are often worth more than the intact vehicle and may be easier to move and sell. That's why we see so many thefts of key items like wheels and tires and tailgates ... there's always a market for them." Check out the NICB infographic below. Vehicle thefts in the U.S. rose by more than 4 percent in 2017, based on preliminary FBI data, after rising 7.6 percent in 2016, though the overall trend has been down since vehicle thefts peaked in 1991, according to the NICB. Related Video: Image Credit: National Insurance Crime Bureau Aftermarket GMC Nissan Toyota Auto Repair Insurance Ownership auto parts car values stolen car nicb national insurance crime bureau components