{"id":1917117,"date":"2023-04-20T09:27:10","date_gmt":"2023-04-20T13:27:10","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/frances-renault-plans-no-big-price-cuts-despite-tesla-challenge\/"},"modified":"2023-04-20T09:33:36","modified_gmt":"2023-04-20T13:33:36","slug":"frances-renault-plans-no-big-price-cuts-despite-tesla-challenge","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/frances-renault-plans-no-big-price-cuts-despite-tesla-challenge\/","title":{"rendered":"France\u2019s Renault plans no big price cuts despite Tesla challenge"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffrances-renault-plans-no-big-price-cuts-despite-tesla-challenge%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1917117&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<p>By Gilles Guillaume and Silvia Aloisi<\/p>\n<p>PARIS (Reuters) -Renault does not plan to drastically cut prices on its electric vehicles, including the recently launched Megane E-Tech, and follow U.S. rival Tesla in what the French carmaker\u2019s finance chief on Thursday called a downward \u201cspiral\u201d. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<\/p>\n<p>Tesla late on Wednesday posted its lowest quarterly gross margin in two years, missing market estimates, after slashing prices aggressively in markets including the United States, China and Europe to spur demand and fend off rising competition.<\/p>\n<p>Tesla shares were down 6.6% in U.S. pre-market trade and fell 7% in Germany on Thursday, weighing on the sector and pushing Renault stock down by a similar amount amid fears of a looming price war.  <\/p>\n<p>Renault brand CEO Fabrice Cambolive said earlier this week the brand would be reviewing prices worldwide, calling Tesla\u2019s price cuts a warning and a challenge to the whole industry.<\/p>\n<p>But group finance chief Thierry Pieton said Renault did not need to follow Tesla\u2019s move, even though the Tesla Model 3 in France now starts at 41,990 euros ($46,017) after last week\u2019s price cut, compared with 42,000 euros for the Megane electric.<\/p>\n<p>\u201cThere is no big incentive to go and cut the prices\u2026and go in a spiral that some of our competition is following,\u201d he told analysts. \u201cIf it results in the short term in slightly lower volumes, so be it.\u201d<\/p>\n<p>He said demand for EV models had been softer in January and February after a reduction in government subsidies in several countries last year, but March was strong.<\/p>\n<p>CLOSING THE GAP<\/p>\n<p>Analysts said Renault may have to cave in on the pricing front, which would impact margins.<\/p>\n<p>\u201cRenault may be forced to lower its prices and find new efficiencies via its new manufacturing plants in northern France,\u201d said Orwa Mohamad at Third Bridge.<\/p>\n<p>\u201cAdvanced software and cost are going to be the key differentiators in the EV market over the next few years,\u201d the analyst added, noting that Renault\u2019s recent partnership with Qualcomm aimed to close the gap with Tesla on the software front.<\/p>\n<p>Renault ranked as the third EV brand for sales in Europe behind Tesla and Volkswagen last year. <\/p>\n<p>First-quarter revenues grew 30% in the first quarter to 11.5 billion euros, above market expectations, thanks to a rebound in sales following four years of consecutive declines and higher prices imposed in 2022.<\/p>\n<p>Boosted by demand for several premium models, including recently launched Arkana and Austral SUVs, the group posted a 14.1% increase in sales over the period to 535,000 units.<\/p>\n<p>The carmaker, which was hit harder than most rivals by the COVID-19 crisis and a global chip shortage, is in the middle of a turnaround and is betting on premium cars and electric vehicles to boost profits.<\/p>\n<p>It is renegotiating a long-standing alliance with Japan\u2019s Nissan and plans to list its EV unit later this year. <\/p>\n<p>It is also ramping up the launch of new models to spur growth. It plans to launch an SUV version of its Espace minivan and a restyling of its best seller Clio city car this year, and 12 new models in 2024.<\/p>\n<p>($1 = 0.9127 euros)<\/p>\n<p> (Reporting by Silvia Aloisi; Editing by Emelia Sithole-Matarise)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/frances-renault-plans-no\/attachment\/file-photo-frances-renault-unveils-the-new-renault-megane-e-tech\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>In this Wednesday Recap Frank Ocean drops out of Coachella weekend 2, a group\u00a0of divers make a historic underwater discovery &#038; Alec Baldwin\u2019s \u2018Rust\u2019 film will resume.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A new Democrat is looking to challenge Joe Biden and what the party has become. Meanwhile, the fates of a popular abortion pill and an unpopular police reform bill are placed in limbo.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Los Angeles Unified School District is facing a lawsuit over its COVID vaccine mandate as some employees still remain on unpaid leave status.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The battle between Florida\u2019s Governor and Disney over control over the new Central Florida Tourism Oversight District and its authority over development continues. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>(Reuters) \u2013 Rapid advances in artificial intelligence (AI) such as Microsoft-backed OpenAI\u2019s ChatGPT are complicating governments\u2019 efforts to agree on laws governing\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>BEIJING (Reuters) \u2013 China\u2019s gaming regulator on Thursday granted publishing licenses to 86 domestic online games, including titles belonging to Alibaba, Baidu\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Yimou Lee and Sarah Wu TAIPEI (Reuters) -Chipmaker TSMC, a major Apple supplier, forecast a 16% plunge in sales for the\u2026 <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>By Heekyong Yang SEOUL (Reuters) -The South Korean government and its top battery companies plan to jointly invest 20 trillion won ($15.1\u2026 <\/p>\n<\/p><\/div>\n<p><\/body><\/html><\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Gilles Guillaume and Silvia Aloisi PARIS (Reuters) -Renault does not plan to drastically cut prices on its electric vehicles, including the recently launched Megane E-Tech, and follow U.S. rival Tesla in what the French carmaker\u2019s finance chief on Thursday called a downward \u201cspiral\u201d. Tesla late on Wednesday posted its lowest quarterly gross margin in<\/p>\n","protected":false},"author":66,"featured_media":1917118,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[7727,3862,23869,3641,7145,20120,6734],"class_list":["post-1917117","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-challenge","tag-cuts","tag-frances","tag-plans","tag-price","tag-renault","tag-tesla"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1917117","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1917117"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1917117\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1917118"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1917117"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1917117"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1917117"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}