UPDATE 1-AvtoVAZ posts wider loss for 2009

MOSCOW, June 17 (Reuters) – Lada maker AvtoVAZ (AVAZ.MM), Russia’s biggest car producer, said its loss doubled last year as sales slumped in the crisis, and it booked an asset impairment provision.

Net loss totalled 49.2 billion roubles ($1.58 billion), against a 24.7 billion net loss in 2008, AvtoVAZ said on Thursday.

Revenue fell to 92 billion roubles from 168 billion in 2008, said AvtoVAZ, in which French carmaker Renault (RENA.PA) holds a one quarter stake.

Chief executive Igor Komarov said last week the company could return to operating profit this year as it has been the chief beneficiary of a government-sponsored ‘cash for clunkers’ scheme. [ID:nLDE65A11E]

For 2009, AvtoVAZ recorded an operating loss of 45.5 billion roubles, against a loss of 26.1 billion in 2008.

It has also performed a test for impairment of its fixed assets and booked a provision of over 14 billion roubles. (Reporting by Gleb Stolyarov; Writing by Maria Kiselyova; Editing by Dan Lalor) ($1 = 31.14 roubles)

Volvo truck deliveries rise 44 pct yr/yr in May

June 16 (Reuters) – World number two truck maker Volvo (VOLVb.ST) said on Wednesday shipments of its trucks rose 44 percent year-on-year in May as markets recovered from the worst downturn in decades.

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Volvo, which sells trucks under the Renault, Mack, UD Trucks and Eicher brands as well as its own name, said shipments rose 25 percent in Europe from a year ago while they climbed 35 percent in North America.

In Asia, where the economic upturn has been firmer than on both sides of the Atlantic while Volvo has fortified its position through acquisitions in recent years, deliveries shot up 90 percent from a year ago.

Ssangyong inks auto export deal with Russia Sollers

June 15 (Reuters) – South Korea’s Ssangyong Motor (003620.KS) said on Tuesday it had agreed to supply Russian carmaker Sollers (SVAV.MM) about 160,000 cars in a knock-down export deal through 2017.

Cyclical Consumer Goods

Under the contract Ssangyong is set to export sports utility vehicle parts that will be assembled at Sollers’ far eastern factory in Vladivostok, Ssangyong said in a statement.

The deal is part of the effort to revive the SUV maker, now in a sale process under court-led restructuring.

Six bidders have been shortlisted in the early phase of Ssangyong’s sale, worth an estimated up to $500 million, including France’s Renault SA (RENA.PA) and India’s Mahindra & Mahindra (MAHM.BO). (Reporting by Rhee So-eui; Editing by Jonathan Hopfner)

Renault CFO to step down next month – sources

June 10 (Reuters) – Renault (RENA.PA) finance chief Thierry Moulonguet will step down after almost 20 years at the French carmaker next month for personal reasons, two sources close to the company told Reuters on Thursday.

Cyclical Consumer Goods

Le Figaro newspaper said earlier that Renault banking unit head Dominique Thormann would replace Moulonguet.

“Moulonguet will leave next month for personal reasons,” one of the sources said.

Renault declined to comment. (Reporting by Gilles Guillaume; Editing by James Regan)

INTERVIEW – Cosworth able to engage fifth team – head

Cosworth would be able to supply engines to a fifth Formula One team next season but expect competition from Renault, according to manager Mark Gallagher.

Renault last week indicated that they were looking to power another team in addition to their own and championship leaders Red Bull, triggering speculation that Cosworth could lose one of their four current customers — possibly Williams or Lotus.

Gallagher, who heads Cosworth’s F1 operations, told Reuters in a telephone interview before Sunday’s Turkish Grand Prix that he was sure all four would stay with the British-based company and suggested Renault were more likely to do a deal with a possible new entry.

The governing International Automobile Federation (FIA) has sought applications to fill the 13th and final slot on the grid, unless anyone else pulls out, after a planned USF1 entry failed to materialise this year.

“The obvious solution (for Renault) is actually the 13th team that is coming into Formula One,” said Gallagher. “My gut feeling is that it is probably a Cosworth-Renault competition to supply the 13th team.”

Mercedes and Ferrari already supply three teams each. Cosworth’s current teams are Williams, HRT, Virgin Racing and Lotus.

Gallagher said providing engines for five teams would be ambitious but feasible, since they would have supplied USF1.

“It certainly wouldn’t be a problem to step up to the mark again and do it for next season,” he added.

STRONG ENOUGH

The Northern Irishman, who formerly worked at Jaguar and as marketing chief for Eddie Jordan at the team that now lives on as Force India, said there were a couple of serious candidates capable of filling the 13th slot.

“There are still teams out there that are strong enough,” he said. “I think, interestingly, the people this time around have seen what has happened to the new teams, they’ve seen just how difficult it is.

“I think anyone who is coming forward now comes forward…perhaps with their eyes even more open.”

None of the 2010 newcomers, who have all signed three-year engine deals, have scored a point in six races and just getting two cars to the finish has been a victory of sorts.

Gallagher said all three debutants had done an impressive job while Cosworth had delivered what they had promised in terms of reliability and affordability. That just left competitiveness to be addressed.

Former champions Williams, he made clear, were pushing them hard on that.

“The whole reason we jumped at the chance to work with Williams is that when you have a driver like (Rubens) Barrichello, who’s proven to everybody that he’s still at the top of his game, he was going to tell us exactly what we needed to do to optimise the engine’s performance,” he said.

“When you are working with people like (Lotus technical head Mike) Gascoyne and (Williams co-owner) Patrick Head, they are able to say ‘This is where you need to be at’ and we are comfortable that we met or surpassed those targets,” he added.

“We have no fear of any other engine in Formula One,” added Gallagher. “Of course having been out of Formula One for three years, we are having to do things to get the engine mapping right and the programming to optimise the way the engine delivers its power.

“But we are making improvements literally every race weekend and we are seeing the result of that on the track.”

Gallagher also played down talk of an impending flotation of Cosworth, who were sold by Ford to U.S. based motor racing entrepreneurs Kevin Kalkhoven and Gerald Forsythe in 2004.

“This is pure speculation and we kind of accept that this will happen from time to time,” he said.

“We are seeing something like 30 percent year on year growth and that’s not all down to Formula One. As a result of that we are often the target of various approaches and then you get the media speculation that comes on from that.”

(Editing by…To query or comment on this story email sportsfeedback@thomsonreuters.com)

Dream victory at Monaco greatest day of my life: Webber

Melbourne, May 18 (ANI): Red Bull driver Mark Webber has said that winning the Monaco Grand Prix was the best day in his life as he had dreamt of a top podium finish in the world’s ‘toughest’ race since childhood.

“It was the best day of my life. I’ve dreamt of winning the Monaco Grand Prix since I was a boy and to do it from pole position was just awesome.

“It’s an honour for me to join the list of winners for this race, which hadn’t been won by an Australian since Jack Brabham in 1959,” The Daily Telegraph quoted Webber, as saying.

“Qualifying and the race were pretty near perfect for me. The RB6 was fantastic to drive and I executed some tidy laps to take pole position from Robert Kubica on Saturday afternoon,” he said.

Webber said he expected a real challenge from Kubica, but was relieved to see Sebastian Vettel get the jump on him at the start.

“It gave me a buffer to the Renault driver, while also setting us up for Red Bull Racing’s second one-two of the season. My start wasn’t actually that great, but the run to the first corner was short and no one was able to get ahead.

“It’s very difficult to pass at Monaco and when I emerged from the first corner in the lead, I knew that the race was mine to lose,” Webber said. (ANI)

Schumacher refuses to say sorry for cheating last time in Monaco

London, May 13 (ANI): Seven times Formula one champion Michael Schumacher, who is on a comeback trail, has refused to say sorry for cheating the last time he raced in Monaco.

He was dumped at the back of the grid and branded a ”scumbag” after one of the most infamous incidents in F1 history.

Schumacher deliberately parked his car at the famous Rascasse Corner to wreck title hopes of rival driver Fernando Alonso’s qualifying lap four years ago.

“It doesn’t change things if we go back into it. We are now in 2010. Let’s look forward and not backwards. I had great fun in the race. I came through the field from last and finished fifth. That was good fun,” The Sun quoted Schumacher, as saying.

Asked if the incident was a low point of his career, Schumacher said: “You made it, yes. You all did. You journalists. Some of you guys.”

And when asked if he would repeat the trick this Saturday to take pole, he moaned: “You”re boring.”

Schumacher’s career is littered with cheating controversies.

He drove into Damon Hill in Adelaide in 1994 to win their title decider and tried the same trick on Jacques Villeneuve in the season finale three years later in Jerez.

That saw the German stripped of all his points for the season, the paper reports.

On the Monaco incident, Schumacher claimed he had locked up his Ferrari, having stopped at the corner to slow then Renault rival Alonso, who was on a quicker lap. (ANI)

Button hits back at former Renault boss Briatore

London, May 8 (ANI): Formula One champion Jenson Button has hit back at former Renault boss Flavio Briatore’s claim that he is not one of the world’s top five drivers.

“It did make me laugh when I read what Flavio said. He likes to be outspoken, but I am very happy. I have done everything I set out to do when I started racing in F1. I am leading the championship and he is not even in the sport,” he said.

“I am sat here as the world champion, I’ve won two races this year, I’m all right. It doesn’t upset me – he has got to try a bit harder than that. But I don’t know what he was thinking as I thought we got on all right,” The Sun quoted Button, as saying.

Button, 30, had two difficult years when Briatore, who is out of the sport after fixing the 2008 Singapore Grand Prix, was his Benetton/Renault boss in 2001-02.

But Button reckons that the bad times have made him a better driver.

“It was the roughest time of my career but it was a learning curve. They are important years and some of us go through more than others. That was a tough time in my career but I wouldn’t change it. You need the bad days to make you realise it is not always a walk in the park,” he said.

Button unveiled a plaque on champions” avenue at the Circuit de Catalunya yesterday commemorating his title triumph with Brawn GP last year, and said he is not feeling any pressure despite the stunning start with his new team. (ANI)

Schumacher’s ex-boss writes off his chances of a glorious comeback

London, May 5 (ANI): Seven times Formula One champion Michael Schumacher’s former team boss has written off his chances of making a glorious comeback.

Ex-Renault chief Flavio Briatore, under whom Schumacher drove at Benetton, said that there is no way he will recapture his glory.

Asked if he expected Schumacher to improve during the season, Briatore said: “On the contrary, I think it will be harder and harder for him.”

“I don’t know how he can recover. The competition is so fierce. He made the decision to return without thinking that, in four years, the cars and tyres have changed massively,” The Sun quoted him, as saying.

Schumacher has been outraced by Mercedes team-mate Nico Rosberg and has finished a dismal 10th during the last race in China.

“I’ve always said it would be difficult for him to stay ahead of Rosberg. You can’t come back in such a competitive sport after four or five years. Alain Prost did, but only one season had gone by,” Briatore told Italy’s Autosprint magazine.

“Today, Michael has found some tough customers because in F1 there have never been drivers as good as this year. There’s Hamilton, Alonso, Vettel, Rosberg…” (ANI)

UK”s most uncomfortable cars unveiled

London, Apr 19 (ANI): The Vauxhall Corsa has been voted as Britain”s most uncomfortable car with its older shape-finishing bottom in a survey of the nation”s 100 best-selling makes and models.

The comfort bottom ten cars were:

1. Corsa (old shape)
2. Astra Mk IV
3. Fiat Punto
4. Ford Fiesta (old shape)
5. Renault Clio Mk II
6. Ford Focus (old shape)
7. Peugeot 307
8. Mini One/Cooper/S (old shape)
9. Astra Mk V
10. VW Polo Mk IV

A total of 23,000 Brits rated their own cars for comfort in Auto Express mag”s Driver Power poll, reports the Sun. (ANI)

Hamilton says nothing ”ungentlemanly” about his ”weaving” tactics

London, Apr 17 (ANI); Formula One ace Lewis Hamiltom, who escaped punishment in the Malaysian Grand Prix after he weaved in front of Vitaly Petrov”s Renault, has denied indulging in ungentlemanly behaviour, and pointed out that he did not cry “foul” when he was rammed by Mark Webber”s Red Bull in Melbourne.

Hamilton was warned about his ungentlemanly conduct and was shown the black-and-white flag by race stewards.

“I have spoken to a couple of drivers about this [incident in Malaysia] and my feeling is that if you are defending into a corner and weave more than once, that”s illegal. But I am not aware trying to break the tow was illegal,” Hamilton said.

“I wasn”t cutting Petrov up. He was a good car”s length behind me and I was trying to get him out of the tow. I don”t feel it was dangerous, I thought it was good racing and it didn”t affect anyone else. I am relaxed about it,” The Timesonline quoted him, as saying.

Petrov was furious. “What he did was wrong and normally it is a penalty,” he said.

“He did not need to do this. If I did this, I would expect to get a penalty and so should he. If he does it again, there must be a penalty,” he added.

Robert Kubica, Petrov”s team-mate, also questioned why Hamilton did not suffer a penalty. (ANI)

Motor racing-Button wins Australian Grand Prix for McLaren

MELBOURNE, March 28 (Reuters) – Britain’s Formula One world champion Jenson Button won the Australian Grand Prix for McLaren on Sunday.

Poland’s Robert Kubica finished second for Renault with Brazilian Felipe Massa third for Ferrari. (Editing by John O’Brien; To query on this story email sportsfeedback@thomsonreuters.com)

Ghosn sees European car market down 10 pct in 2010

MOSCOW, March 1 (Reuters) – The European car market will shrink by 10 percent this year while the Russian market has already reached bottom and has started to recover, Renault’s (RENA.PA) chief executive Carlos Ghosn said on Monday.

“Before 2009 ended, our forecast was for the market to contract by 8 to 10 percent in 2010. But 2009 ended on a higher note than expected so today we forecast the market in Europe to contract by 10 percent,” Ghosn told a plant opening ceremony in Moscow. [ID:nLDE6200UT]

(Reporting by John Bowker, writing by Dmitry Zhdannikov, Editing by Alfred Kueppers)

All Formula One teams are cheats, claims Irvine

London, Sep 18 (ANI): Ex-Ferrari driver Eddie Irvine has claimed that all Formula One teams are cheats.

Irvine says there has been an overreaction to the race-fixing charges being levelled at the Renault team.

He admitted the Crashgate scandal that cost Renault team chief Flavio Briatore and technical boss Pat Symonds their jobs had gone too far.

“F1 is a war and all is fair in war. When I was in various teams you would do anything to win. You pushed people off, you did whatever you could do to win,” he said.

“This is probably slightly on the wrong side of the cheating thing, but in F1 – if you look back at days gone past – then every team has done it. They will cheat, bend the rules, do whatever they could, sabotage opponents.

“Nothing was beyond the realms of decency and that is what F1 always is. It is not a pure sport,’ The Sun quoted Irvine, as saying.

The Renault team still has to appear before the World Motor Sport Council in Paris on Monday where they face a massive fine, race suspension or even being kicked out of the sport.

But Irvine reckons they could escape with a more lenient penalty amid fears that another team is about to leave the sport.

Irvine, who also raced for Jordan and Jaguar, added: “If you think that McLaren got a 100 million dollars fine for having some papers of the Ferrari team, what punishment is relevant here? It is complete banning. But I don’t believe that is going to happen as F1 cannot afford to lose more teams.”

Briatore threatened to sue Piquet Snr after the three-time world champ made the revelations about his son. (ANI)

Renault Loose Wheel Case – Hungarian Grand Prix | Renault wins appeal to participate in European GP

Renault Loose Wheel Case – Hungarian Grand Prix | Renault wins appeal to participate in European GP

Renault F1 Team, and Fernando Alonso have been cleared to take part in the European Grand Prix in Valencia after winning a plea against a one-race ban.

The French team, Renault was penalized after permitting Fernando Alonso to leave the pit lane with a loose wheel, which then came off, at the Hungarian Grand Prix.

Alonso will now be able to race at his home grand prix this weekend after the ban was reversed. As an alternative fine Renault £30,000.

FIA expresses regret about decision on new series

Hamburg, June 19 (DPA) The ruling motorsport body FIA Friday expressed its disappointment about the decision of eight teams to form a new series, and said it would announce its own lineup Saturday. The team’s umbrella organisation FOTA had early Friday split from the FIA in the wake of a budget cap row. Its teams Ferrari, McLaren-Mercedes, BMW-Sauber, Brawn GP, Toyota, Red Bull, Toro Rosso and Renault said they will start setting up a new series.

FIA said in a statement: “The FIA is disappointed but not surprised by FOTA’s inability to reach a compromise in the best interests of the sport.

“It is clear that elements within FOTA have sought this outcome throughout the prolonged period of negotiation and have not engaged in the discussions in good faith.”

The FIA reiterated that cost-cutting is a must in the current economic climate and that it alone lays down the rules.

“The FIA cannot permit a financial arms race in the Championship nor can the FIA allow FOTA to dictate the rules of Formula One,” it said.

The FIA said it will announce its new lineup Saturday, after a Friday night deadline expired.

FIA unveiled 13 teams for the 2010 season last week. They included the current outfits Force India and Williams, the new teams Campos, Manor and US F1.

The eight FOTA teams were also listed, Ferrari, Red Bull and Toro Rosso without conditions, the other five (McLaren-Mercedes, Brawn GP, Renault, Toyota and BMW-Sauber) provisionally, pending their dropping of conditions.

The FIA said over the past days that several other applicants were on hand to fill the ranks in the case of a split.

“The deadline for unconditional entries to the 2010 FIA Formula World Championship will expire this evening. The 2010 FIA Formula One World Championship entry list will be announced tomorrow,” FIA said.

Nissan, Europcar to jointly sell electric cars in 2010

Nissan, Europcar to jointly sell electric cars in 2010 Tokyo – Nissan Motor Co and Europcar Groupe SA have agreed to form a partnership to sell and lease electric vehicles from 2010, the Japanese carmaker said Tuesday.

The two companies plan to market electric cars first in Europe, Australia and New Zealand, and then introduce them in other countries.

The partnership gives drivers “the option of exploring a new means of mobility by giving them the unique experience of using an electric vehicle in order to encourage them to become better eco-citizens,” Rafael Girona, chief operating officer of Europcar, said in a statement.

Nissan and its business partner, France’s Renault SA, also plan to introduce zero-emission vehicles in the United States and Japan starting in 2010, with the aim of leading zero-emission mobility in the industry.

They expect to start marketing electric vehicles worldwide in 2012. (dpa)

Alonso fastest in final practise session for Monaco Grand Prix

Alonso fastest in final practise session for Monaco Grand Prix Monte Carlo – Fernando Alonso in a Renault on Saturday posted the fastest time in the final practise session for the Monaco Formula One Grand Prix.

The two-time world champion needed 1 minute 15.164 seconds for the 3.340-kilometres course through the streets of Monte Carlo, beating the time set by championship leader Jenson Button in a BrawnGP by 0.069 seconds.

McLaren-Mercedes driver Heikki Kovalainen was third-fastest, followed by Rubens Barrichello in the second BrawnGP. Defending world champion Lewis Hamilton in a McLaren, who won the race last year, posted the seventh-fastest time.

The grid positions for Sunday’s race will be determined in the qualifying session set for later Saturday.

Ahead of the sixth race of the season, Button leads the standings with 41 points after winning four of the opening five season-races.

Barrichello is 14 points behind on 27, while Red Bull’s Sebastian Vettel is third with 23 points. (dpa)

Ticket holder may have won world’s biggest lottery with £110m jackpot

London, May 9 (ANI): One ticket holder may have bagged the world’s biggest lottery with 110 million pounds in the EuroMillions jackpot.

According to Camelot Group, the operators of the UK National Lottery, the ticket was bought in Spain and if it is owned by a single person, then it will set the record for the world’s biggest lottery jackpot win.

And this would mean, they would turn out to be joint 492nd richest person in Britain and could match the fortune of surviving Bee Gees Robin and Barry Gibb and Renault Formula One chief Flavio Briatore.

“This huge jackpot has been really exciting for players all over the UK and Europe,” the Telegraph quoted a National Lottery spokeswoman as saying.

“Even though a British player wasn’t lucky enough to scoop the big one this time, to date over 971 million pounds has been paid out in EuroMillions prize money and more than 61 million EuroMillions prizes have been won in the UK – plus the nation has benefited through the money raised for good causes,” she added. (ANI

Button wins in Bahrain

Sakhir, Bahrain – Jenson Button extended his lead at the top of the Formula One drivers ‘ standings Sunday when the Brawn GP driver claimed victory in the Bahrain Grand Prix in Sakhir. The Briton secured his third win out of four this season ahead of Sebastian Vettel of Red Bull with Toyota’s Jarno Trulli , who started from pole position, having to settle for third.

Defending world champion Lewis Hamilton in a McLaren-Mercedes came home fourth, followed by Rubens Barrichello in the second Brawn GP car.

Kimi Raikkonen earned Ferrari’s first points of the season with a sixth-place finish, with Toyota’s Timo Glock and two-time world champion Fernando Alonso of Renault completing the points placings. (dpa)