Fusion FCA-Renault, Senard: “never say Never”

The president of Renault, Jean-Dominique Senard, is back to talk about the possibility of a merger between the Diamond and the group FCA. Admitting that at the time the operation is not in the plans, it has not excluded that can be improved. “At the moment is not through the screening,” said Senard to France Inter Radio, explaining, however, that “never say never”.

At the moment, the Renault group is going through a phase of organizational restructuring. CEO Thierry Bolloré has been recently replaced by former chief financial officer Clotilde Delbos. The office of Delbos at the moment is interim, but, according to rumors reported by the French media, the manager, is among those eligible for the long-term role.

Renault has recently revised downwards its estimates of revenues to 2019, with a contraction of 3-4% compared to the previous forecast, which lingered on the levels of the 2018; decline in the operating margin, down from 6% to 5%. This news was greeted negatively by the Stock exchange of Tokyo, where the title to the Renault suffered greater losses than those recorded on the occasion of the arrest of Carlos Ghosn, last November.

The Renault Group in the third quarter of 2019 has recorded a turnover of € 11.3 billion, against the € 11.5 billion in the third quarter of 2018, with a decline of 1.6%. Exchange rates and perimeter constant, the variation would be equal to, or 1.4%. In the third quarter of 2019, the turnover of the auto industry, Avtovaz excluded, and amounted to 9.7 billion euro, with a decline of 3.9% compared to the third quarter of 2018.

The negotiations between Renault and FCA have ended in nothing done in the month of June: after nine days of discussions, the FCA had withdrawn with immediate effect the proposed merger. To induce FCA to leave the table was the decision of the Lozenge to postpone for the third time in the vote to decide on the way ahead for the operation.