Renault coloured grey or beige? (7)

I believe the answer is:

neutral

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'beige?' is the definition.
(thesaurus)

'renault coloured' is the wordplay.
'coloured' indicates an anagram.
'renault' with letters rearranged gives 'NEUTRAL'.

'grey or' acts as a link.
I am not very happy about this link. Some or all of it may belong to another bit of the clue.

Can you help me to learn more?

(Other definitions for neutral that I've seen before include "having no potential" , "Grey" , "Not allied to either side" , "Not taking sides in a war" , "Impartial; colour" .)

I've seen this clue in The Guardian.

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