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Groupe Renault sold 665,038 vehicles during Q1 2021, up 1.1% compared to the first quarter of 2020. In a pre-emptive assertion over the lackluster performance, management claimed “in a context still disturbed by the pandemic’… this start of the year “confirmed the positive impact of the Group’s profitability-oriented commercial policy, with a price effect of over 6 points.”
Well, during Q1 2021, Group revenues were €10,015 million (-1.1%). At constant exchange rates1, Group revenues would have increased by 4.4%. Automotive excluding AVTOVAZ revenues amounted to €8,566 million, down -0.3%. In addition to the change in inventories, which explains most of the negative impact of the volume (-6.5 points), revenues were adversely affected by a negative currency effect of -4.3 points. Continue reading
The Philadelphia Concours d’Elegance show in the City of Brotherly Love returns on 17 July 2021 to celebrate Corvette – “America’s Sports Car.” Last year’s two-day event was cancelled due to the pandemic and this fourth “annual” event has been rescheduled as a one-day program. All current State guidelines for pandemic restrictions will be in place to ensure the safety of all participants and attendees.
NHTSA Taking Steps to Allow States to Set Greenhouse Gas Emissions Standards and Zero-Emissions Vehicle Mandates
The U.S. Department of Transportation today endorsed President Biden’s January 20 executive order on Protecting Public Health and the Environment and Restoring Science to Tackle the Climate Crisis. NHTSA proposed to withdraw its portions of the so-called SAFE I Rule, which sought to preempt States, including California, from issuing their own greenhouse gas emissions standards and zero-emissions vehicle mandates.
The proposed action would establish a clean slate, enabling the Department to further the Administration’s fuel economy, equity, and climate change priorities — which include reversing unnecessary and potentially unlawful efforts to prevent state action. It is a repudiation of the anti-environmental polices of the disgraced previous Administration that was voted out last November. Continue reading →