"Historically, Renault's integrated distribution network has always evolved in line with opportunities. For the past two years, it has started to reduce its internal network", explains Arnaud Voisin, Director of Renault Luxembourg. Hence the sale of its distribution subsidiaries in Belgium and Luxembourg to Emil Frey, effective from 1 October. The amount of the acquisition was not communicated.
The Swiss group, which has "more than 40 brands and 800 concessions", is the largest European distributor according to a ranking carried out by ICDP in 2021. It had a turnover of €13bn in 2020, selling some 555,000 new vehicles, according to ICDP.
Four Belgian dealerships, three in Luxembourg
By taking over four dealerships in Belgium (three in Brussels and one in Zaventem) and three in Luxembourg, the group is "continuing its already very significant development of Renault, particularly in France", says Voisin.
The sale does not mean a change of name, nor will it affect the workforce or the product range of Renault in Luxembourg. "We will remain 200 in Luxembourg and 140 in Belgium,” says Voisin. The only difference is that "we are going to have a family group as a shareholder, specialised in our business, distribution and service,” says the director for Luxembourg. Whereas the French Renault group had a "double hat" of manufacturer and distributor. "It's good to have a shareholder who thinks like us. Notably for development projects...” which Voisin says it is "too early to talk about".
The turnover of Renault Luxembourg was not communicated.