Renault-Nissan and UniCredit to create Russian finance JV
Renault-Nissan will have a 60% stake, with UniCredit holding 40%.
The car group said the move was aimed at ‘further strengthening the Alliance’s competitive positioning in the Russian car market which is forecast to continue to grow rapidly over the next decade’.
Last year, Renault-Nissan saw record sales of 352,808 units (189,852 units for Renault, 153,747 units for Nissan and 9,209 units for Infiniti) in Russia, corresponding to a market share of 12%.
Renault-Nissan and UniCredit are partners also in other Central and Eastern European countries such as Czech Republic, Slovakia, Croatia and Hungary.
The JV is subject to approvals from regulatory authorities and is expected to be operational by the end of 2013.
Natalie Middleton
Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.
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