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Nissan files civil suit against Ghosn, seeking $91 million in damages

TOKYO — Nissan filed a civil suit Wednesday seeking 10 billion yen ($91 million) in damages from the Japanese automaker's former Chairman Carlos Ghosn. Nissan filed the case in Yokohama District Court to recoup some of the monetary damages suffered, it said, “as a result of years of misconduct and fraudulent activity" by Ghosn. The claim was calculated by adding the costs from what Nissan called Ghosn's “corrupt practices,” such as rent for overseas property, use of corporate jets and payments to Ghosn's sister, as well as costs for the internal investigation into Ghosn's alleged wrongdoings. Representatives of Ghosn said in a statement they couldn't comment as they had yet to see the legal documents. “Nissan's maneuvers continue,” they said, while noting Nissan had claimed larger damages before. Ghosn, who led Nissan for two decades and saved it from near-bankruptcy, was arrested in Japan in November 2018, and charged with underreporting his future compensation and breach of trust in diverting Nissan money for personal gain. He was awaiting trial but skipped bail and showed up in Lebanon late last year. Japan has no extradition treaty with Lebanon, and he's unlikely to be arrested. A date had not been set for his trial, and Ghosn has said he was worried his ordeal would never end and he would not get a fair hearing. The bail conditions also barred him from seeing his wife. He has repeatedly lashed out at Japan's judicial system, where the conviction rate is higher than 99%. Japanese authorities recently issued an arrest warrant for Ghosn and three Americans, accused of helping his escape. Separately, they issued an arrest warrant for Ghosn's wife on suspicion of perjury. Ghosn has repeatedly said he is innocent, saying that the promised compensation had never been decided, and all the payments were for legitimate services. Wednesday's lawsuit by Nissan comes on top of the civil case Nissan filed against Ghosn in the British Virgin Islands in August last year. It alleged unauthorized payments, sought to regain a luxury yacht and pursued other damages, according to Nissan. Yokohama-based Nissan, which makes the Z sportscar, Leaf electric car and Infiniti luxury models, is also facing trial in Japan as a company in relation to Ghosn's scandal. It has indicated it will agree to any penalties. Nissan's reputation has been sorely tarnished over the Ghosn fiasco, and its sales have dropped. Nissan reports financial results Thursday.

Cars with the worst resale value in 2022

Car values are all over the map right now. Used vehicles that were worth a small fortune earlier this year are now coming back to Earth, but the new vehicle supply remains tight. Prices are still elevated overall, but some models have seen more severe price drops. Depreciation strikes almost every model, supply constraint or not, though a few vehicles are leading the way. New research from analytics iSeeCars found that a handful of cars depreciated more than 50 percent over five years, with the BMW 7 Series dropping 56.9 percent and an average price cut of $61,923 over that time. The vehicles with the highest depreciation — or worst resale value — over five years: BMW 7 Series: -56.9% Maserati Ghibli: -56.3% Jaguar XF: -54% Infiniti QX80: -52.6% Cadillac Escalade ESV: 52.3% Mercedes-Benz S-Class: 51.9% Lincoln Navigator: -51.9% Audi A6: -51.5% Volvo S90: -51.4% Ford Expedition: -50.7% iSeeCarsÂ’ research showed that midsize trucks, sports cars, and fuel-efficient vehicles were slowest to depreciate over five years, while itÂ’s clear that luxury brands tend to lose value much faster. As iSeeCarsÂ’ Executive Analyst Karl Brauer explained, used buyers donÂ’t value high-end vehiclesÂ’ features as much as the first owners, so resale values tend to be softer. The tech and options that made the cars so expensive and appealing new donÂ’t add the same value on the used market. Read more: Cars with the best resale value Interestingly, electric vehicles also depreciated quite heavily, though they were just short of the abysmal numbers in luxury segments. The Nissan Leaf depreciated most among EVs, dropping by 49.1 percent. The average EV depreciation is 44.2 percent, with the Tesla Model S and Model X sliding in right under the bar at 43.7 and 38.8 percent, respectively. As iSeeCars notes, itÂ’s important to be vigilant when car shopping and not let your emotions win over reason. Shiny new luxury cars look great in the showroom, but you could end up taking a bath when you try selling them a few years later on. Related video: Audi BMW Cadillac Ford Infiniti Jaguar Lincoln Maserati Mercedes-Benz Volvo Car Buying Used Car Buying Ownership Resale Value depreciation

2019 Infiniti QX50 gets fancy-pants Autograph interior

The 2019 Infiniti QX50 has primarily garnered attention around car enthusiast circles for its variable compression engine. It's a marvel of engineering that uniquely changes its compression ratio to maximize power and fuel efficiency. It can also switch between Atkinson and regular combustion cycles, utilize multi-point or direct injection, it's turbocharged, and even features an electric motor that controls the variable compression ratio. Nifty stuff, but it seems likely that all that technobabble will make the average buyer of Infiniti's new compact SUV go crosseyed. It may not even be mentioned. "It has an engine? Great, let me see the inside." Well, dear car shopper who doesn't give a hoot about the greasy bits, have we got a bit of QX50 news for you. Infiniti has announced the QX50 Autograph package, a special $2,000 option with a seriously upgraded interior. Fancier materials and unique color schemes were selected, drawing inspiration from luxury beach resorts and being awfully similar to those found in the latest Pantone Fashion Color Trend Report. It's probably best to turn things over to the press release at this point. "Starting with warmer color tones, the rich chocolate brown replicates wood applications in the (beach) resort and the surrounding trees, followed by a creamy off-white representing the sand on a beach. The highlights of a cooler dark navy blue on the center console, reminiscent of ocean water, strike the proper balance between warm and cool, creating a comfortable, yet invigorating environment." Have you gone crosseyed? Well, now you know how it feels when describing the greasy bits to a non car person. Those cream, brown and blue bits are the Pantone colors, which, respectively, are known as "Coconut Milk," "Emperador" and "Sailor Blue." In the QX50, the Sailor Blue-esque blue is applied to the center console, dash and doors in Ultrasuede. The Emperadorish brown is on the steering wheel, leather-wrapped dash top and doors, outer portions of the seats and the lower door portions. Coconut Milk is indicative of the creamy dash color and the seat leather, which is diamond-quilted and contrast-stitched. There's also open-pore wood trim. Though I made light of this, the QX50 Autograph interior is actually quite striking. As Infiniti points out, consumers are starting to embrace color, which is worth celebrating. Give me Coconut Milk, Emperador and Sailor Blue over beige, grey and black any day.