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Nissan CEO Hiroto Saikawa resigns, successor to be named

YOKOHAMA, Japan — Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation. Board member Yasushi Kimura told reporters at an evening news conference at company headquarters in Yokohama that the board has approved Saikawa's resignation, effective Sept. 16, and a successor will be appointed next month. A search is underway, he added. Calls for Saikawa's resignation, which arose after the arrest last year of his predecessor, Carlos Ghosn, on various financial misconduct allegations, have grown louder after Saikawa acknowledged last week that he had received dubious payments. The income was linked to the stock price of Nissan Motor Co., and he has said his pay got inflated by illicitly adjusting the date for cashing in. The automaker's board met to look into the allegations against Saikawa, as well as other issues related to Ghosn's allegations and corporate ethics at the company. Kimura said the income Saikawa had received was confirmed as "not illegal." Ghosn, who is out on bail and awaiting trial, says he's innocent. Kimura and three other board members, who all have backgrounds outside the company, said their investigation of the scandal over Ghosn's arrest found that alleged misconduct by Ghosn and Greg Kelly, a former board member who was also arrested, had caused 35 billion yen ($350 million) in damage to the company. Nissan will seek a repayment of the damages, Kimura said. The board said about 10 candidates are being considered as a replacement for Saikawa. They did not identify them, but said outsiders and non-Japanese are on the list. Until a successor is decided, Chief Operating Officer Yasuhiro Yamauchi will serve as interim chief, the board said. Saikawa has not been charged. "I have been trying to do what needs to be done so that I can pass the baton over as soon as possible," he told reporters earlier in the day, referring to his willingness to leave his job. Saikawa did not appear at the news conference initially, but the four board members who led the event said he would later. Saikawa has said he didn't know about the improprieties, promised to return the money and blamed the system he said Ghosn had created at Nissan for the dubious payments. Japanese media reports said Saikawa had received tens of millions of yen (hundreds of thousands of dollars) in extra compensation.

How Lexus, Infiniti plan to win back luxury buyers from Germans, Tesla

DETROIT — Japanese luxury auto brands Lexus and Infiniti have used the Detroit Auto Show to test new ways to regain momentum against Germany's prestige automakers and Tesla. The Japanese are fighting to gain ground in the U.S. luxury market as Audi and Mercedes-Benz have expanded sales and Tesla has provided a fresh alternative to established brands. Last year, Lexus suffered a 7.6 percent slide in U.S. sales. Acura's 2017 sales fell 3.9 percent from 2016. Infiniti pushed up sales by 11.3 percent — but by selling almost twice as many sport utility vehicles as cars. However, Infiniti's total 2017 sales of 153,415 vehicles put it behind the leading Germany luxury car brands, as well as Acura, Lexus and Cadillac. The Lexus LF-1 Limitless concept SUV model, with its futuristic looks and "Chauffeur mode" semi-autonomous hands-off driving capabilities, signals that Toyota's luxury brand may start to focus more on SUVs than traditional large sedans. The LF-1 also previews a futuristic navigation technology that anticipates where the driver is going based on driving habits and history, and provides hotel recommendations or other concierge services. View 13 Photos "We don't want to be the 'race car' brand; we don't want to be the 'quiet ride' brand. We want to be the brand which is emotionally connected with the customer," said Cooper Ericksen, vice president of U.S. marketing for Lexus. Lexus, Infiniti and Acura launched in the U.S. market in the late 1980s and took advantage of quality problems at Audi and a lack of innovation at the then-leading luxury brands, Cadillac and Lincoln. Now, the structure of the U.S. luxury market has changed. Four brands — Mercedes, BMW, Audi and Lexus — dominate. Tesla delivered 103,000 vehicles in 2017, its best year ever, though that total is still a small fraction of the overall luxury market. Tesla, meanwhile, is trying to overcome "production hell" and increase output of its more affordable compact Model 3 sedan. The highly anticipated car is just starting to reach customers — but with 400,000 preorders, 2018 could be a breakthrough year for Tesla. View 19 Photos In Detroit, Infiniti showed the Q Inspiration Concept sedan powered by a unique, high-efficiency variable-compression gasoline engine. While the prototype is not electric, its exterior might appeal to customers of the Tesla Model S.

2019 Infiniti QX50 starts fresh with a new face and trick engine

Last week, Infiniti rolled out the refresh of the big daddy QX80 in Dubai. At this year's Los Angeles Auto Show, the Japanese automaker is poised to reveal something that's bound to be far more mainstream: the 2019 Infiniti QX50 and its trick variable compression turbocharged engine, or VC-T. In addition to the new engine, the QX50 drops rear-wheel drive in favor of an all-new front-wheel-drive platform and gets the new ProPilot assist technology that debuted on the Nissan Leaf. The QX50 may be the headliner, but the engine is the really interesting bit. This 2.0-liter turbocharged inline-four can adjust the stroke of the pistons on the fly, varying the engine's compression from 8:1 to 14:1, and giving the new midsize crossover improved efficiency and diesel-like torque. It's rated at 268 horsepower and 280 pound-feet of torque, down 57 horses but up 14 pound-feet. Front-wheel-drive models hit 60 mph in 6.7 seconds. That drops to 6.2 seconds with all-wheel drive. Combined fuel economy is 27 mpg for front-wheel-drive QX50s and 26 mpg for all-wheel-drive variants, both up from the abysmal 20 mpg combined rating of the current model. Power is sent through a continuously variable transmission. If it's like other Nissan and Infiniti CVTs, it will be inoffensive if a bit lifeless. We've covered the details of this powertrain extensively already, but it's great to see companies giving more life to the internal combustion engine. The new platform marks a big improvement over the outgoing QX50 in terms of platform rigidity and space efficiency. Rear-wheel drive might be fun, but it's never ideal from a packaging perspective. Cargo capacity is up from 31.6 cubic-feet to 37 cubic-feet. With the seats down, the space expands to 60 cubic feet, up from 50.1 cubic feet. That's not exactly class-leading, but it's no longer among the class-worst. The 2019 QX50 will use a new type of high-tensile steel, improving torsional rigidity by 23 percent and shaving overall weight. The styling falls in line with most other Infiniti products. The outgoing model had a bit of an identity crisis, looking more like a lifted wagon than a fully-realized crossover (it was, after all, essentially a G35/G37 wagon). This new one has much more conventional SUV proportions. In fact, it looks like a 7/8-scale version of the new QX80 with a front-wheel-drive profile. That's either good news or bad news, depending on where your tastes fall.