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  #1  
Old 01-14-2016, 02:25 PM
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Ascariss Ascariss is offline
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Default Renault shares plunge on factory raids by police

http://www.bbc.com/news/business-35309674

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Shares in French car manufacturer Renault have fallen 20% after police raids on several of its factories.

The company confirmed the raids, saying that fraud investigators wanted to check equipment at its factories.

Investors feared that Renault was being investigated for cheating emissions tests, which Volkswagen admitted to doing last September.

However Renault stressed that tests have shown "no evidence" devices designed to cheat emissions tests.

It said the fraud investigators were looking at the way Renault uses exhaust emissions technology, and it was fully co-operating with the probe.

Police have not confirmed why the raids were carried out.

News of the searches first came from the CGT Renault union. It said the raids targeted the engine control units and that they were likely to be "linked to the consequences of the Volkswagen rigged-engines affair".

The union also said police officers took the personal computers of several directors.

Last month, Renault said it would invest Ä50m (£38m) into bringing the real emissions of its cars into line with those measured in official test conditions.

VW fall out

Authorities and car manufacturers have been on alert in the wake of the Volkswagen emissions scandal, which emerged in late September.

Volkswagen (VW) admitted its diesel-engine cars had been fitted with computer software designed to flatter emissions data during tests.

In the days following the scandal several car manufacturers issued statements affirming their cars adhered to all emissions standards and were not fitted with cheat software.

VW said around 500,000 cars in the US had been fitted with the devices, which were designed to make VW cars appear more fuel efficient and environmentally friendly than they really were.

It also announced plans to recall and inspect 8.5 million cars in Europe, including 2.4 million in Germany, 1.2 million in the UK and 500,000 in the US.

Meanwhile, Renault's French rival Peugeot said its factories were not involved in the raids. The company also pointed out that its car emissions equipment had passed recent tests to ensure they complied with regulations.

"The test results carried out by the technical committee of Energy Minister Madame Royal were passed on to us and the showed an absence of anomalies," a Peugeot statement said.
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  #2  
Old 01-15-2016, 03:21 AM
boston boston is offline
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My sentiments.....

https://www.youtube.com/watch?v=vtSmfws0_To
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  #3  
Old 01-15-2016, 03:54 AM
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swizzle swizzle is offline
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Renault is garbage. It raped Nissan. Nissan makes ugly car because of Renault. Bury them with VW.
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  #4  
Old 01-15-2016, 03:45 PM
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Nath Nath is offline
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Quote:
Originally Posted by swizzle View Post
Renault is garbage. It raped Nissan. Nissan makes ugly car because of Renault. Bury them with VW.
You do realise that Renault does not and has not styled Nissan cars don't you?
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  #5  
Old 01-15-2016, 09:45 PM
ocn75 ocn75 is offline
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More here:

http://www.caradvice.com.au/409093/r...investigation/
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  #6  
Old 01-16-2016, 02:09 AM
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swizzle swizzle is offline
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Quote:
Originally Posted by Nath View Post
You do realise that Renault does not and has not styled Nissan cars don't you?
Yo do realize that Renault calls the shots at Nissan right?
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  #7  
Old 01-19-2016, 09:27 PM
ocn75 ocn75 is offline
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And more here:

http://www.carpoint.com.au/news/2016...pgrades-100968
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  #8  
Old 01-21-2016, 12:43 AM
62Lincoln 62Lincoln is offline
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Quote:
Originally Posted by ocn75 View Post
And here's the money quote from this link:

Quote:
Meanwhile, Renaultís financial pain continues. Despite being cleared of any fraudulent activity, Franceís biggest car-maker has seen more than $5 billion wiped off its share value since Thursday after news that three facilities had been raided by investigators.
That bolded nugget is buried in the last paragraph of the story. Wonder why?
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  #9  
Old 01-23-2016, 10:02 PM
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Cousteau Cousteau is offline
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Those germans are going to be desperate.

Renault was raided but no defeat devices like in VW's which is ultimate loser.
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Citroen C4 Cactus + Citroen DS5 + wife drives Peugeot 508 HDI. Americans, come over to Sweden for some free mental health care.
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  #10  
Old 01-24-2016, 02:03 AM
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swizzle swizzle is offline
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Originally Posted by Cousteau View Post
Those germans are going to be desperate.

Renault was raided but no defeat devices like in VW's which is ultimate loser.
Yet, Renaults are still horrid. What gives? Oh, I know. Ghosn is French for idiot just and Marcjionne is Italian for idiot.
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