Renault-Nissan Poised to Become Number Three
By Kevin Miller
The Financial Times reported last week that Renault and Nissan are poised to become the world’s third-largest automaker, trailing Toyota and GM, when the finalizes its partnership deal with Autovaz of Russia. Carlos Ghosn stated “Renault, Nissan, and Autovaz will pass the seven million vehicle mark. We will become the third-largest global carmaker.” Ghosn also indicated that Renault’s due diligence process is going well and that a contract is expected to be signed within weeks.
Renault and Nissan, whose alliance began ten years ago, together sold 6.16 million cars in 2007, making them the world’s fifth-largest car maker behind GM and Toyota as well as Ford and Volkswagen. Autovaz, which is Russia’s largest automaker, has sufficient capacity to produce about a million vehicles annually. In 2007 Autovaz produced approximately 880,000 vehicles, selling about 700,000 of those domestically and exporting the remainder, mostly to former Soviet states.
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