In addition the political aspect of the recordWe look for example acquisitions in Spain even if their use has decreased since thirty years5 billion in the second instalment of the convertible securitiesThe France will train the gendarmes of Bahrain6 billion for Italian yet barely 10 largerTechnical not political but essential measureswho in a brief press release that it make 30NewsThe European elections are approachingBecause funds are already overloaded read belowTen years after his arrival at the head, almost four years after his debut as President and CEO of Renault and Nissan's "double boss" is bound to adapt to new circumstances. The current crisis, entirely based on ingredients exogenous nothing to do with the situation that he had found at the time in Nissan forced Carlos Ghosn to abandon most of its goals in the French group: achieve an operating margin of 6 in 2009, selling 800,000 more cars on the period 2005-2009. And it leads to significantly change its methods of management. Forgotten the forecast on the coming year, the dividends paid to shareholders, as the last crisis, as well as the variable part of the remuneration of managers. And the company accepts State aid, wherever they come.
But, on the merits, the strategy does not change, emphasized yesterday Carlos Ghosn, presenting the 2008 results: "We want to always be the most competitive and cost-effective European generalist constructor", is is pleased to note. In what way "Facing a crisis of this magnitude, it must first cross." Then, must be that Renault is transformed to adapt to a new automobile era, see crab-wise after the crisis. "When the acute emergency will be overcome," we will launch a new plan, with the same fundamental as the "contract 2009" ", he predicted.
But before that, must be managed on the day the day a situation which only worsen. "Our number one for 2009 aims to be a"free cash flow"self-financing capacity positive", after the negative balance of EUR 3 billion in the automotive branch, according to Patrick Pélata, Associate Executive Director.
"We did not venture to forecast results, which essentially depend on the evolution of global markets, says Carlos Ghosn.". While the global auto market reached 69 million vehicles in 2007, then 63 million in 2008, our forecast for the fiscal year 2009, already cautious was 55 million. However, in the light of what we see in recent weeks, we are not even on this slope, is on a much lower projection of 50 million.
Eight new models
But since the rescue axe of Nissan, which had earned him the nickname of "cost killer" Carlos Ghosn significantly changed his approach. First, he took back to the ground, leaving the operational management to its delegated Managing Director. Then, he refuses to harden the reduction of jobs programs, unlike PSA already table on 11,000 departures this year (included subsidiaries). For the moment, Renault will not go further than quits ongoing plan, bearing on about 6,000 people, mostly in Europe. By adding natural departures (pensions, quits) not replaced, the constructor table similarly about 9,000 employees less at the end of 2009. "For the moment, as we see things, there no need to do more." "After that, it will depend on many of the evolution of the crisis", said Carlos Ghosn. The projects of new vehicles are also relatively preserved: eight new models will be launched this year, after nine last year, but only one in 2006. Yet Renault seriously tighten the bolts on the rates of production (no repeat record level 45 of the last quarter of 2008) and its research and development, which have declined in late 2009 by 15 from 2007.
