Posted on 06/16/2018 3:26:52 AM PDT by Olog-hai
French carmaker Renault will maintain its presence in Iran while taking measures to avoid the risk of penalties for breaching renewed US sanctions, CEO Carlos Ghosn said Friday.
“We will not abandon it, even if we have to downsize very strongly,” he said at the annual shareholders’ meeting in Paris. “When the market reopens, the fact of having stayed will certainly give us an advantage,” he predicted. […]
Renault’s rival PSA, which produces the Peugeot and Citroën brands, has also announced it will quit Iran to abide by the US sanctions.
But Ghosn signaled that Renault, which counted 160,000 cars sold in Iran last year out of its total 3.76 million, would try to stay in the country.
“We have a future in Iran,” he insisted. …
(Excerpt) Read more at france24.com ...
Does Renault even sell cars in the US anymore? The last Renault I recall was a long time ago. I know they once were part of AMC but they disappeared when Chrysler bought them. How long ago was that?
“Does Renault even sell cars in the US anymore?”
That’s what I’m thinking too. I haven’t seen a Renault nor a Renault dealership in decades. Appears to me that Renault’s decision to ignore the possibility of US sanctions is zero risk proposition for Renault.
Does Renault even sell cars in the US anymore?
I am trying to remember the last time I saw a Renault in the U.S.
Their Iran play is stupid but I won't rag on them too much. They did play a part in keeping the Jeep alive.
The Froggies have it down pat. The Iranians can convert a Renault vehicle into a bomb delivery vector in about 30 minutes, including appropriate factory installed wiring harnesses.
Tick, tock Renault. Build bomb shelters in your factories, You’re gonna need them.
My Dad had a Renault wagon. A few years later, the same model was being sold as an AMC Eagle.
>> They did play a part in keeping the Jeep alive. <<
You say that like it’s a GOOD thing?!
The French copy no one, and no one copy the French. /Click and Clack
Nissans are Renaults, Renaults are Nissans. Renault bought into Nissan some years ago and is the controlling shareholder.
Don’t know about cars, but some 25 years ago Mack Truck was having financial troubles, and was joined by Renault for a bit. Mack used R diesel engines in some trucks. A friend had rollback truck wth an R engine. It was so under-powered it couldn’t pull a sick baby off a pottychair!
AFAIK, the last year was 1987.
It's a Jeep thing....you wouldn't understand.
I guess they raised the white flag then. Dittos for other French cars like Peugeot and Citroen. Other cars not seen in a long time.
Nissan is the majority shareholder in Renault now. Has been for some time. (That kind of explains the weird styling of modern Nissan cars.)
I think it’s the other way around; Renault is the principle shareholder in Nissan.
Not sure which way it is, but Ghosn is head of both companies.
Is he really suggesting he would risk Nissan’s presence in America to support Renault’s in Iran?
That would be foolish. Trump had no problem taking on Huawei....
Ghosn is CEO of Renault, but not Nissan. CEO of Nissan is a Japanese guy. Ghosn is Chairman of the Board of Nissan, indicating its control by Renault.
It can be argued there’s too many players in the American auto market. Renault has opted out, and maybe Renault believes Nissan should too, although a presence in Iran is not likely to be a decisive factor. The auto market is changing dramatically.
Oh, no. Don’t tell me I’ve crossed a Rubicon!
I see what you did there.
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