Renault Shares Slump on Poor Prospects for Partner Nissan
An employee carries out final inspections on the body shell of a freshly painted Nissan Micra automobile in Flins.
Photographer: Marlene Awaad/BloombergThis article is for subscribers only.
Renault SA has long relied on Japanese partner Nissan Motor Co. to prop up its earnings. That pillar is now crumbling.
The French carmaker’s share price fell to a four-year low after Nissan cut its dividend for the first time in a decade and predicted annual operating profit will fall below even the most pessimistic analyst’s estimate. Nissan has hit “rock bottom,” its chief executive officer said.