Fraud investigators accused Renault of having cheated on pollution tests for diesel and petrol engines for over 25 years with the knowledge of top management. &quot;The entire chain of management&quot; up to the French firm&#39;s chief executive Carlos Ghosn was implicated in the &quot;fraudulent strategies&quot;, according to a report by anti-fraud agents which was seen by AFP Wednesday.

Reportedly, the carmaker&#39;s two models - Renault Captur and the Clio IV - pollute more than 300 per cent higher than the set legal limit in real-life conditions.

Renault is part-owned by the French government, which holds just under 20 per cent in the carmaker.

Renault shares sank 3.4 per cent on the Paris stock exchange to close at 79.45 euros, having fallen by more than four per cent at one point. This added to the previous day&#39;s 3.7 per cent drop.

&quot;This is huge for the carmaker,&quot; said one Paris-based analyst. Shares in fellow French manufacturer Peugeot were also down, by a much more modest 0.9 per cent, in an overall firmer market.

Renault categorically denied the accusations.

&#39;Renault doesn&#39;t cheat&#39;

&quot;Renault doesn&#39;t cheat,&quot; Thierry Bollore, the French company&#39;s second-in-command told AFP by telephone late on Wednesday, saying all its cars complied with legal standards.

In a separate statement released on Thursday, Renault said &quot;none of its services has breached European or national regulations related to vehicle homologations&quot;, or certification, and that it would fully cooperate with an official investigation launched in January.

&quot;Renault vehicles are not equipped with cheating software affecting anti-pollution systems,&quot; it said.

The fraud squad report said there was no evidence of Ghosn having charged anybody else with approving the company&#39;s emissions control decisions, which therefore ultimately came under &quot;his responsibility&quot;.

&quot;Many vehicles&quot; were fitted with the device which allowed cars under testing to appear cleaner than they were on the road, the report said.

Remember Volkswagen?

The accusations against Renault come after Europe&#39;s biggest carmaker, Volkswagen, admitted to fitting 11 million cars with devices allowing them to fool emission tests.

In January, Volkswagen agreed to plead guilty and pay $4.3 billion in criminal and civil fines to settle charges that it defrauded the United States and conspired to violate the Clean Air Act.

This added to the $17.5 billion that the company already agreed to pay in settlements with car owners and dealers for environmental cleanup.

Renault would not likely face a similar scenario, as it sells no cars in the United States.

Volkswagen lost nearly half of its market capitalisation when the emissions scandal escalated, noted David Cheetham at London-based brokerage XTB.

While such a meltdown was &quot;improbable&quot; in Renault&#39;s case, the French carmaker still has reason to worry about the reaction of investors, he said.

&quot;Even though the stock is lower by around eight percent in recent sessions there could be more downside ahead,&quot; Cheetham said.

Potential fines of billions

France started investigating after some of Renault&#39;s models, along with those from other carmakers, were found to spew out too many harmful emissions in random tests under real-world conditions last summer.

Experts running the probe said they could not rule out other carmakers besides Volkswagen using cheating devices in test conditions.

Anti-fraud detectives then got on the case, leading to the latest report.

According to French consumer law, proof of fraud could lead to fines for Renault of up to 3.58 billion euros ($3.84 billion), the report said. This is, incidentally, almost exactly the size of the company&#39;s net profit in 2016. 
Investigations are also ongoing in other countries.

State prosecutors in southern Germany said they had searched offices belonging to carmaker Audi over parent company Volkswagen&#39;s cheating scandal.

Investigators from Bavaria, Baden-Wuerttemberg and Lower Saxony states searched &quot;sites belonging to Audi AG and seven other locations&quot; on suspicion of &quot;fraud and illegal advertising&quot;, Munich prosecutors said in a statement. 
In January, Fiat Chrysler also came under fire when US authorities accused it of cheating emissions tests on diesel trucks and SUVs.

(AFP)

The accusations against Renault come after Volkswagen admitted to fitting 11 million cars with devices allowing them to fool emission tests

Fraud investigators accused Renault of having cheated on pollution tests for diesel and petrol engines for over 25 years with the knowledge of top management. "The entire chain of management" up to the French firm's chief executive Carlos Ghosn was implicated in the "fraudulent strategies", according to a report by anti-fraud agents which was seen by AFP Wednesday. Reportedly, the carmaker's two models - Renault Captur and the Clio IV - pollute more than 300 per cent higher than the set legal limit in real-life conditions. Renault is part-owned by the French government, which holds just under 20 per cent in the carmaker. Renault shares sank 3.4 per cent on the Paris stock exchange to close at 79.45 euros, having fallen by more than four per cent at one point. This added to the previous day's 3.7 per cent drop. "This is huge for the carmaker," said one Paris-based analyst. Shares in fellow French manufacturer Peugeot were also down, by a much more modest 0.9 per cent, in an overall firmer market. Renault categorically denied the accusations. 'Renault doesn't cheat' "Renault doesn't cheat," Thierry Bollore, the French company's second-in-command told AFP by telephone late on Wednesday, saying all its cars complied with legal standards. In a separate statement released on Thursday, Renault said "none of its services has breached European or national regulations related to vehicle homologations", or certification, and that it would fully cooperate with an official investigation launched in January. "Renault vehicles are not equipped with cheating software affecting anti-pollution systems," it said. The fraud squad report said there was no evidence of Ghosn having charged anybody else with approving the company's emissions control decisions, which therefore ultimately came under "his responsibility". "Many vehicles" were fitted with the device which allowed cars under testing to appear cleaner than they were on the road, the report said. Remember Volkswagen? The accusations against Renault come after Europe's biggest carmaker, Volkswagen, admitted to fitting 11 million cars with devices allowing them to fool emission tests. In January, Volkswagen agreed to plead guilty and pay $4.3 billion in criminal and civil fines to settle charges that it defrauded the United States and conspired to violate the Clean Air Act. This added to the $17.5 billion that the company already agreed to pay in settlements with car owners and dealers for environmental cleanup. Renault would not likely face a similar scenario, as it sells no cars in the United States. Volkswagen lost nearly half of its market capitalisation when the emissions scandal escalated, noted David Cheetham at London-based brokerage XTB. While such a meltdown was "improbable" in Renault's case, the French carmaker still has reason to worry about the reaction of investors, he said. "Even though the stock is lower by around eight percent in recent sessions there could be more downside ahead," Cheetham said. Potential fines of billions France started investigating after some of Renault's models, along with those from other carmakers, were found to spew out too many harmful emissions in random tests under real-world conditions last summer. Experts running the probe said they could not rule out other carmakers besides Volkswagen using cheating devices in test conditions. Anti-fraud detectives then got on the case, leading to the latest report. According to French consumer law, proof of fraud could lead to fines for Renault of up to 3.58 billion euros ($3.84 billion), the report said. This is, incidentally, almost exactly the size of the company's net profit in 2016. Investigations are also ongoing in other countries. State prosecutors in southern Germany said they had searched offices belonging to carmaker Audi over parent company Volkswagen's cheating scandal. Investigators from Bavaria, Baden-Wuerttemberg and Lower Saxony states searched "sites belonging to Audi AG and seven other locations" on suspicion of "fraud and illegal advertising", Munich prosecutors said in a statement. In January, Fiat Chrysler also came under fire when US authorities accused it of cheating emissions tests on diesel trucks and SUVs. (AFP)

Renault denies charges of pollution cheating software in cars

Renault has cheated for more than 25 years on pollution tests for diesel and petrol engines with the knowledge of top management, according to a report by French fraud investigators obtained Wednesday by AFP.

&quot;The entire chain of management&quot; up to the French car maker&#39;s chief executive Carlos Ghosn was implicated in the &quot;fraudulent strategies&quot;, said the report, which led prosecutors to open a probe into Renault in January.

The car maker categorically denied the accusations.

&quot;Renault doesn&#39;t cheat,&quot; Thierry Bollore, the French company&#39;s second-in-command told AFP by telephone, saying all its cars complied with legal standards.

The report said there was no evidence of Ghosn having charged anybody else with approving the company&#39;s emissions control decisions, which therefore ultimately came under &quot;his responsibility&quot;.

&quot;Many vehicles&quot; were fitted with the device which allowed cars under testing to appear cleaner than they were on the road.

According to the document seen, there was a difference of up to 377 percent between the test levels of emissions performance of some of these cars and the on-road levels.

Renault shares plunge&nbsp;

Police suspect the automobile maker of putting in place the strategies &quot;with the objective of creating false results for antipollution tests&quot;, and so to be seen to be complying with European regulations.

The police enquiry is concentrating on the Euro 5 and Euro 6 diesel engines &nbsp;which were approved in 2009.

Renault shares plunged on the Paris stock exchange, closing 3.7 percent lower on a fairly stable market, after the Liberation daily first revealed the existence of the report earlier Wednesday.

The document concentrates on recent car models, but the fraud investigators -- helped by statements by a former Renault employee -- estimate that questionable policies had been in place since 1990.

Several Renault models were fitted with electronic devices which detected test conditions and then triggered a temporary reduction in harmful emissions for long enough to fool the testing equipment, the former employee claimed. &nbsp;

The first generation Renault Clio, which came out in 1990, is believed to be one of the models involved.

&#39;Dieselgate&#39;

The alleged fraudulent practice recalls the &quot;dieselgate&quot; scandal involving Germany&#39;s Volkswagen which admitted in late 2015 to installing so-called &quot;defeat devices&quot; into 11 million diesel vehicles worldwide, designed to reduce emissions of harmful nitrogen oxides while the engines were undergoing regulatory tests.

The German automaker last week pleaded guilty to criminal charges in the United States that it committed fraud by installing the devices and paid $4.3 billion in civil fines.

The guilty plea and fines were in addition to $17.5 billion that the company had already agreed to pay in settlements with car owners, dealers and for the environmental cleanup.

The CGT trade union confederation said it feared Renault&#39;s image could be &quot;seriously tarnished by these revelation&quot; and called on the company&#39;s management to shed light on the matter.

Lawyer Frederik-Karel Canoy said the serious allegations require a swift judicial response and compensation for civil parties, calling for owners of any Renault cars found to have been fitted with the emissions-cheating device to be fully compensated.

France Nature Environnement, which is also interested in a civil case, said the emissions were recognised as cancerous and &quot;directly endanger the health of citizens.&quot; &nbsp;&nbsp;

Earlier Wednesday, state prosecutors in southern Germany said they had searched offices belonging to carmaker Audi over parent company Volkswagen&#39;s emissions cheating scandal.

Investigators from Bavaria, Baden-Wuerttemberg and Lower Saxony states searched &quot;sites belonging to Audi AG and seven other locations&quot; on suspicion of &quot;fraud and illegal advertising&quot;, Munich prosecutors said in a statement. 
 
(AFP)

Renault management has been cheating on pollution tests for more than 25 years, the probe concludes

Renault has cheated for more than 25 years on pollution tests for diesel and petrol engines with the knowledge of top management, according to a report by French fraud investigators obtained Wednesday by AFP. "The entire chain of management" up to the French car maker's chief executive Carlos Ghosn was implicated in the "fraudulent strategies", said the report, which led prosecutors to open a probe into Renault in January. The car maker categorically denied the accusations. "Renault doesn't cheat," Thierry Bollore, the French company's second-in-command told AFP by telephone, saying all its cars complied with legal standards. The report said there was no evidence of Ghosn having charged anybody else with approving the company's emissions control decisions, which therefore ultimately came under "his responsibility". "Many vehicles" were fitted with the device which allowed cars under testing to appear cleaner than they were on the road. According to the document seen, there was a difference of up to 377 percent between the test levels of emissions performance of some of these cars and the on-road levels. Renault shares plunge Police suspect the automobile maker of putting in place the strategies "with the objective of creating false results for antipollution tests", and so to be seen to be complying with European regulations. The police enquiry is concentrating on the Euro 5 and Euro 6 diesel engines which were approved in 2009. Renault shares plunged on the Paris stock exchange, closing 3.7 percent lower on a fairly stable market, after the Liberation daily first revealed the existence of the report earlier Wednesday. The document concentrates on recent car models, but the fraud investigators -- helped by statements by a former Renault employee -- estimate that questionable policies had been in place since 1990. Several Renault models were fitted with electronic devices which detected test conditions and then triggered a temporary reduction in harmful emissions for long enough to fool the testing equipment, the former employee claimed. The first generation Renault Clio, which came out in 1990, is believed to be one of the models involved. 'Dieselgate' The alleged fraudulent practice recalls the "dieselgate" scandal involving Germany's Volkswagen which admitted in late 2015 to installing so-called "defeat devices" into 11 million diesel vehicles worldwide, designed to reduce emissions of harmful nitrogen oxides while the engines were undergoing regulatory tests. The German automaker last week pleaded guilty to criminal charges in the United States that it committed fraud by installing the devices and paid $4.3 billion in civil fines. The guilty plea and fines were in addition to $17.5 billion that the company had already agreed to pay in settlements with car owners, dealers and for the environmental cleanup. The CGT trade union confederation said it feared Renault's image could be "seriously tarnished by these revelation" and called on the company's management to shed light on the matter. Lawyer Frederik-Karel Canoy said the serious allegations require a swift judicial response and compensation for civil parties, calling for owners of any Renault cars found to have been fitted with the emissions-cheating device to be fully compensated. France Nature Environnement, which is also interested in a civil case, said the emissions were recognised as cancerous and "directly endanger the health of citizens." Earlier Wednesday, state prosecutors in southern Germany said they had searched offices belonging to carmaker Audi over parent company Volkswagen's emissions cheating scandal. Investigators from Bavaria, Baden-Wuerttemberg and Lower Saxony states searched "sites belonging to Audi AG and seven other locations" on suspicion of "fraud and illegal advertising", Munich prosecutors said in a statement. (AFP)

Renault chiefs guilty of cheating on pollution tests: French investigators

Automaker Renault unveiled a variant of its popular hatchback Kwid in India, with the price starting at Rs 4.3 lakh (ex-showroom Delhi).

Christened as Kwid Climber, the variant will be available in both manual and automated manual transmission (AMT) modes. The manual variant is priced at Rs 4.3 lakh, while the AMT trim of the vehicle comes for Rs 4.6 lakh (ex-showroom Delhi).

&quot;The Renault Kwid Climber has been developed keeping in mind specific customer needs and caters to diverse audiences, becoming the perfect offering for young achievers who are moving up places steadfastly,&quot; Renault India Operations Country CEO and MD Sumit Sawhney told reporters here.

This new launch reflects the company&#39;s intent to keep pace with global innovations and at the same time make products to suit local needs, he added. The 1.0-litre SCe engine, which powers the Kwid Climber, is optimally designed for better performance.

The company first showcased the Kwid Climber as a concept vehicle at the auto expo last year. The SUV-inspired variant is designed and developed by Renault&#39;s design studios in Mumbai and Chennai. Kwid Climber comes with segment leading length, power to weight ratio, boot space, ground clearance and cutting-edge technology.

&quot;With this launch, we look forward to welcoming more customers into the Renault family as we endeavour to aggressively consolidate our presence in India,&quot; Sawhney said.

These efforts are accentuated by a clear strategy to enhance the customer brand experience, with several unique and pioneering initiatives already under way to ensure customers have an unmatched and superlative association with the Renault brand, he added.

On future outlook, Sawhney said: &quot;Our road map for India is very clear, with an immediate goal of achieving a market share of 5 per cent in the near term.&quot; The company will continue with its product offensive strategy in India, as is reflected by the Kwid Climber launch, to substantially grow the Renault brand in India, he added.

(PTI)

The Kwid Climber will be available in both manual and automated manual transmission (AMT) modes

Automaker Renault unveiled a variant of its popular hatchback Kwid in India, with the price starting at Rs 4.3 lakh (ex-showroom Delhi). Christened as Kwid Climber, the variant will be available in both manual and automated manual transmission (AMT) modes. The manual variant is priced at Rs 4.3 lakh, while the AMT trim of the vehicle comes for Rs 4.6 lakh (ex-showroom Delhi). "The Renault Kwid Climber has been developed keeping in mind specific customer needs and caters to diverse audiences, becoming the perfect offering for young achievers who are moving up places steadfastly," Renault India Operations Country CEO and MD Sumit Sawhney told reporters here. This new launch reflects the company's intent to keep pace with global innovations and at the same time make products to suit local needs, he added. The 1.0-litre SCe engine, which powers the Kwid Climber, is optimally designed for better performance. The company first showcased the Kwid Climber as a concept vehicle at the auto expo last year. The SUV-inspired variant is designed and developed by Renault's design studios in Mumbai and Chennai. Kwid Climber comes with segment leading length, power to weight ratio, boot space, ground clearance and cutting-edge technology. "With this launch, we look forward to welcoming more customers into the Renault family as we endeavour to aggressively consolidate our presence in India," Sawhney said. These efforts are accentuated by a clear strategy to enhance the customer brand experience, with several unique and pioneering initiatives already under way to ensure customers have an unmatched and superlative association with the Renault brand, he added. On future outlook, Sawhney said: "Our road map for India is very clear, with an immediate goal of achieving a market share of 5 per cent in the near term." The company will continue with its product offensive strategy in India, as is reflected by the Kwid Climber launch, to substantially grow the Renault brand in India, he added. (PTI)

Renault launches Kwid Climber in India at Rs 4.3 lakh onwards

French auto major Renault today launched a new version of its small car Kwid in India powered by 1.0 litre petrol engine priced up to Rs 3.95 lakh (introductory price ex-showroom Delhi). 
 
The company currently sells the Kwid with an 800cc (0.8L) engine priced between Rs 2.64 lakh and Rs 3.73 lakh (ex-showroom Delhi). 
The new 1.0 litre variant comes in two variants priced at Rs 3.82 lakh and Rs 3.95 lakh, respectively. 
 
Buyers, thus will have to shell out Rs 22,000 more for the new 1,000 cc litre variant. 
 
&quot;With this launch, we look forward to welcoming more customers into the Renault family as we endeavor to aggressively build our presence in India,&quot; Renault India Country CEO &amp; Managing Director Sumit Sawhney told reporters here. 
 
Kwid has been a success in the country with the company having already retailed over 1.65 lakh units of the model since its launch last year. 
 
The new variant of the hatchback comes with a brand new 1.0 litre SCe engine which is optimally designed for better performance. 
It also comes with various features like sport designer graphics on the doors, pro-sense seat belt pre-tensioners with load limiters among others. 
 
Commenting on the company&#39;s future plans, Sawhney said: &quot;Our roadmap for India is very clear, with an immediate goal of achieving a market share of over 5 per cent by the end of this year.&quot; 
 
The company will continue with its product offensive strategy in India, as is reinforced by the Kwid 1.0L SCe launch, to substantially grow the Renault brand in India, he added. 
 
&quot;Together with our product portfolio expansion strategy, we are also significantly increasing our sales and network reach in India,&quot; Sawhney said. 
 
These efforts are matched by a clear strategy to enhance the customer brand experience, he added. 
 
The company also plans to increase its sales network to 270 outlets by the end of this year. 
In order to offer servicing at the customer&#39;s doorstep, Renault also plans to have 25 mobile workshops across the country by the end of the year. 
 
The company currently offers the service in Kerala, a southern state in India. 
 
Sawhney said the company has already started selling the Kwid in Sri Lanka and plans to launch it in Nepal later this month. 
&quot;Early next year manufacturing of the model would begin at other markets as well,&quot; Sawhney said. 
 
(PTI)

The car has been upgraded from 800cc to 1000cc and will be priced between Rs 3.82 lakh and Rs 3.95 lakh

French auto major Renault today launched a new version of its small car Kwid in India powered by 1.0 litre petrol engine priced up to Rs 3.95 lakh (introductory price ex-showroom Delhi). The company currently sells the Kwid with an 800cc (0.8L) engine priced between Rs 2.64 lakh and Rs 3.73 lakh (ex-showroom Delhi). The new 1.0 litre variant comes in two variants priced at Rs 3.82 lakh and Rs 3.95 lakh, respectively. Buyers, thus will have to shell out Rs 22,000 more for the new 1,000 cc litre variant. "With this launch, we look forward to welcoming more customers into the Renault family as we endeavor to aggressively build our presence in India," Renault India Country CEO & Managing Director Sumit Sawhney told reporters here. Kwid has been a success in the country with the company having already retailed over 1.65 lakh units of the model since its launch last year. The new variant of the hatchback comes with a brand new 1.0 litre SCe engine which is optimally designed for better performance. It also comes with various features like sport designer graphics on the doors, pro-sense seat belt pre-tensioners with load limiters among others. Commenting on the company's future plans, Sawhney said: "Our roadmap for India is very clear, with an immediate goal of achieving a market share of over 5 per cent by the end of this year." The company will continue with its product offensive strategy in India, as is reinforced by the Kwid 1.0L SCe launch, to substantially grow the Renault brand in India, he added. "Together with our product portfolio expansion strategy, we are also significantly increasing our sales and network reach in India," Sawhney said. These efforts are matched by a clear strategy to enhance the customer brand experience, he added. The company also plans to increase its sales network to 270 outlets by the end of this year. In order to offer servicing at the customer's doorstep, Renault also plans to have 25 mobile workshops across the country by the end of the year. The company currently offers the service in Kerala, a southern state in India. Sawhney said the company has already started selling the Kwid in Sri Lanka and plans to launch it in Nepal later this month. "Early next year manufacturing of the model would begin at other markets as well," Sawhney said. (PTI)

Renault launches new version of Kwid in India

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