Boulogne Billancourt News
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Daimler AG and Renault SA said they are holding discussions to build a large van together as part of a possible expansion of their existing partnership.
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Renault SA, Europe’s third-biggest carmaker, will build the next version of Japanese partner Nissan Motor Co.’s Micra compact car in its home country of France in an effort to use excess capacity.
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Renault SA, France’s second-biggest carmaker, said first-quarter revenue fell 12 percent as an intensifying car-market contraction in Europe that’s now in its sixth year overwhelmed delivery growth outside the region.
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Euro-area services and factory output shrank for a 15th month in April as the currency bloc struggled to emerge from a recession, adding to pressure on the European Central Bank to do more to boost growth.
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European car sales are sliding to a 20-year low after German concerns over the debt crisis sent demand plunging last month in the region’s biggest economy and removed the main buffer protecting automakers.
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Renault SA, France’s second-biggest carmaker, is targeting growth in 2013 with new models after recessions in Europe led to the company’s first annual delivery drop in four years.
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Renault SA, France’s second-largest carmaker, eliminated debt at the auto-manufacturing unit for the first time in its 14-year tie-up with Nissan Motor Co. as it held back on spending and refrained from cutting vehicle prices.
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Renault SA, France’s second-biggest carmaker, finalized a deal with unions to cut its French workforce by 17 percent and freeze wages in exchange for not closing any plants in the country for three years.
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Renault SA gained the backing of a third union to move forward with eliminating 7,500 jobs and freezing wages, boosting the carmaker’s chances of smoothly carrying out its cost-reduction plan.
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Carrefour SA, France’s biggest retailer, posted a smaller-than-estimated fifth straight drop in annual profit and pledged to lift capital expenditure to stoke a revival in its domestic business.
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