US EditionRenault to report $11 billion loss on Nissan stake in first half
- Renault will report an extraordinary loss of approximately $11 billion on its stake in Nissan Motor for the first half of the year.
- The loss reflects declining values due to Nissan's struggles with slumping sales and an ageing vehicle lineup.
- Renault clarified that future changes in the value of its Nissan stake will not impact its net income or dividends to shareholders.
- Despite the financial adjustment, Renault stated that ongoing operational projects with Nissan will remain unchanged.
23 Articles
23 Articles
Renault to report $11 billion loss on Nissan: What went wrong?
Renault reported an $11 billion non-cash loss on its 35.7% Nissan stake, shifting to a share price-based accounting method. Nissan's weak sales, outdated lineup, and $4.5 billion loss highlight the strained alliance.
The French manufacturer announces a depreciation of the value of its Nissan shares at 9.5 billion euros. This bad news is expected to accelerate the search for a new alliance.
Renault to report $11.2bn loss on Nissan stake in first half
French carmaker Renault said on Tuesday it will report an estimated €9.5bn (R233.65bn) non-cash loss on its stake in Nissan Motor in the first half after changing the way it accounts for the investment.
Le Parisien
L'OpinionAfter years of joint projects, Nissan and Renault as well as their Japanese partner Mitsubishi began to unblock their alliance in 2023.
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