9am Update: Renault is reviewing its media planning and buying account, including sister brand Nissan, and is planning to consolidate the business into one agency for the first time. The Renault business is currently handled by Carat, while OMD Group holds the Nissan account across the region.
The incumbent agencies are expected to repitch for the accounts but it is not known which other agencies have been approached. It is understood that the review has been called because its contracts with the existing agencies are coming to an end.
The Renault media business is worth an estimated £350m across Europe and £40m in the UK. Nissan’s UK media spend is £20m, according to Nielsen data. It is not thought that North America will be included in the process.
Renault was unable to confirm the review, although sources close to the company suggest consolidation is “more than likely”.