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Key Developments: Renault SA (RENA.PA)

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Latest Key Developments (Source: Significant Developments)

Nissan contributes 228 mln euros for Q1 to Renault's earnings
Thursday, 12 May 2016 11:55am EDT 

Renault SA statement. :Nissan contributes 228 million euros for Q1 2016 to Renault's earnings..  Full Article

Nissan, Mitsubishi Motors CEO comments from news conference
Thursday, 12 May 2016 02:23am EDT 

Nissan Motor Co <7201.T> CEO Carlos Ghosn and Mitsubishi Motors CEO Osamu Masuko comments from news conference.:.  Full Article

Renault SA recalling 10,649 Zoe electric cars for brake hose checks - Reuters News
Wednesday, 23 Mar 2016 10:02pm EDT 

Renault SA:Renault is recalling 10,649 Zoe electric cars to remove the potential risk of rupture to brake fluid hoses, a spokesman for the carmaker said on Thursday, confirming reports on specialist websites and BFM Business TV - RTRS.The vehicles were built between their launch in 2012 and Oct. 6, 2014 at the company's Flins factory, near Paris.A total of 42,300 Zoe cars have been built. A Renault spokesman said the carmaker was preventively checking the position of certain brake hoses and replacing them if necessary, adding that it had not been notified of any accidents relating to the fault.  Full Article

Renault SA - Protests disrupt production at Renault Turkey plant -union - Reuters
Monday, 29 Feb 2016 10:32pm EST 

Renault SA:A protest by Turkish workers disrupted production at a plant owned by the local unit of French automaker Renault RENA.PA on Tuesday, a union official told Reuters. - RTRS.Workers were protesting at the Oyak Renault plant in the northwestern city of Bursa, the official said.CNN Turk showed footage of police trying to break up the protests and said pepper spray was being used on the protesters.A company official told Reuters that auto production had been stopped on Sunday due to technical issues and was partially underway on Tuesday.Oyak Renault is a joint venture between Renault and the Turkish army pension fund OYAK.UL.  Full Article

Renault SA to recall 15,000 vehicles for emissions tweaks-minister - Reuters
Monday, 18 Jan 2016 08:40pm EST 

Renault SA:French carmaker Renault will recall more than 15,000 vehicles to make changes to their engines to bring them into line with emissions standards, Energy Minister Segolene Royal told RTL radio on Tuesday. - RTRS.The minister, responsible for the environment and sustainable development, repeated that Renault was not alone in exceeding emissions levels, although she did not name any other carmakers - RTRS."Renault has committed to recalling a certain number of vehicles, more than 15,000 vehicles, to check them and adjust them correctly so the filtration system works even when it is very hot or when it is below 17 degrees, because that's when the filtration system no longer worked," Royal said. - RTRS.She said the tests needed to be based on real driving conditions, whatever the outside temperature - RTRS.She added: "To be fair to Renault...there are other brands that exceed the norms." She said the managers of these other carmakers had also accepted to come and give explanations before the commission set up by the government - RTRS.  Full Article

Renault SA to face French emissions commission on Monday - Les Echos - Reuters
Saturday, 16 Jan 2016 07:14am EST 

Renault SA:Officials from French carmaker Renault, whose offices were searched last week in a probe into vehicle emissions, will appear on Monday before a commission looking at whether carmakers have broken emissions rules, Les Echos newspaper reported on Saturday - RTRS.Energy Minister Segolene Royal said on Thursday there was no sign that Renault RENA.PA had fraudulently concealed emissions with defeat device computer programmes like those found in some Volkswagen diesel models - RTRS.However, preliminary results from tests ordered by Royal indicated that emissions from some Renaults, as well as some vehicles made by foreign manufacturers, exceeded limits. - RTRS.Les Echos said Renault would be expected to explain why emissions from some of its models exceeded the limits and how it would correct the problem - RTRS.  Full Article

Renault SA shares slide further despite emissions assurances - Reuters
Friday, 15 Jan 2016 06:11am EST 

Renault SA:French assurances failed to impress Renault investors on Friday over concerns the carmaker could be drawn into a damaging diesel emissions probe in Volkswagen's wake. - RTRS.Renault shares fell further even as officials reiterated it had not been caught cheating on engine emissions, a day after raids at three of the carmaker's facilities came to light. - RTRS.The assurances "alleviate some of our concerns that the use of defeat devices ..affects other automobile companies than Volkswagen," said Yasmina Serghini, Senior Credit Officer at debt rating agency Moody's. - RTRS.But the French investigation is ongoing, she cautioned in a note, and "other countries such as the UK have similar procedures in place, the results of which are still unknown". - RTRS.Renault shares, which tumbled 8.9 percent on Thursday, fell a further 3.4 percent to 75.13 euros, outpacing the European auto sector's .SXAP 3 percent slide amid investor wariness in the wake of the Volkswagen VOWG_p.DE scandal. - RTRS.Officials reiterated that no "defeat devices" had been found on Renault models tested in a French follow-up investigation, launched after VW admitted using such banned software to cheat on U.S. nitrogen oxide (NOx) emissions test - RTRS.The French probe has already found emissions from Renault diesels - and several other unnamed brands - in excess of statutory limits that had been met in European regulatory testing, widely acknowledged to be flawed - RTRS.  Full Article

Fraud investigators searches Renault sites
Wednesday, 13 Jan 2016 07:00pm EST 

Renault SA:Said fraud investigators had inspected three of its sites to look into its vehicle emissions technology.Said in a statement fraud investigators had "decided to conduct an additional investigation on parts and sites with the aim of definitively validating the initial analysis by the independent technical commission.".Aid investigations to date had found "no evidence of a defeat device equipping Renault vehicles", in a reference to a type of software program Volkswagen was found to have used by U.S. investigators to cheat emissions tests.  Full Article

Renault SA - Heavy rains batter auto production in India's Detroit - Reuters
Tuesday, 1 Dec 2015 03:21pm EST 

Renault SA:Heavy rains in India's southern Tamil Nadu state have battered one of the largest auto manufacturing hubs and forced plants to shut for the second time in less than a month, crippling production and deliveries from the region - RTRS.Ford, Daimler and Nissan were among the automakers who told employees to stay home on Wednesday, as the heaviest rainfall in a century made it impossible to cross low-lying areas around the main city of Chennai - RTRS."Everyone is at home. Yesterday, workers were sent home after a half day, and today we are shut. Tomorrow too, probably," said an official at Daimler India, which produces commercial vehicles outside Chennai - RTRS.Ford said it had also shut its plant, with an annual capacity of 340,000 engines and 200,000 vehicles - RTRS."For the safety of our employees, we have halted production at our Chennai assembly and engine plants on Wednesday," a spokesman said - RTRS.The area outside Chennai is known as "India's Detroit for its concentration of automakers. Others in the rain-lashed area include Renault-Nissan 7201.T, Hyundai Motor Co and motorcycle maker TVS Motor TVSM.NS, whose shares were down almost 4 percent on Wednesday - RTRS.A Renault-Nissan India spokesman said the automaker would be cancelling shifts, but aimed to resume operations once conditions improved as there had been no damage to its plant -RTRS.Spokespeople for Daimler, Hyundai and TVS were not immediately reachable for comment - RTRS.  Full Article

Renault SA - Car emissions campaigners turn sights on Renault - Reuters
Tuesday, 24 Nov 2015 10:22am EST 

Renault SA:Renault's flagship Espace minivan released toxic diesel emissions 25 times over legal limits in a Swiss study, despite complying with EU tests carried out at unrealistically low engine temperatures, a German environmental group said on Tuesday - RTRS.The tests commissioned by the DUH group, which have not been independently verified, follows Volkswagen's admission that it used illegal "defeat devices" to cheat diesel emission regulations - RTRS.In a statement, Renault said it contested the findings of the DUH lobby group - RTRS.  Full Article

Renault should change exec pay packages, French ethics body says

PARIS, May 19 French carmaker Renault should make significant changes to its top executives' pay packages, a private corporate ethics body set up by the country's main employers' groups said on Thursday.