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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.

2023 Infiniti Q50 gets small price bump and Premium Care

The Infiniti Q50 sedan continues for 2023 without the support of its coupe sibling, the Q60. There are just three small changes on the way, one being the addition of Infiniti Premium Care. Expanded to every Infiniti sold or leased in the U.S., Premium Care is a regular maintenance program for items like oil and filter changes, tire rotations, and inspections for up to three years. The second change is a higher price, the Q50 starting at $43,725 including the $1,075 destination fee, a $610 increase over 2022. MSRPs for the three trims next year and differences from 2022 are: Q50 Luxe: $43,725 ($610) Q50 Sensory: $49,425 ($400) Q50 Red Sport 400: $57,575 ($600) The last change is the availability of a Saddle Brown interior, which used to require stepping up to the Sensory. Rear-wheel drive is the standard layout, all-wheel drive can be optioned to any trim for $2,000. The twin-turbo 3.0-liter V6 hold steady at 300 horsepower and 295 pound-feet of torque for the Luxe and Sensory, or 400 hp and 350 lb-ft for the Red Sport 400, shifting through a seven-speed automatic no matter the output. It's possible there are more people who want to know where the Q50 is going than want to buy the car. The brand sold 8,482 Q50s in the first half of 2021, but just 3,717 units in the first half of this year. The high point came in 2016 when 44,007 units moved that year, two years after the sedan went on sale, and the model heading into 2023 has been hanging on for 10 years. The brand talked about a potential new electrified platform for the sedan in 2018, but come 2021 Nikkei Asia reported parent company Nissan would be ending development of all sedans in Japan excepting the Skyline. The Q50 seems like it's doing circles in a product cul-de-sac, knowing there's no point in revamping the current generation or developing a new one. But the car on sale is just bringing down values; unlike much of the rest of the market, there's real money to be saved on a one- or two-year-old Q50. Perhaps when the electric revolution has some power behind it in 2027 or 2028, we could see a return to the hot Infiniti sedans of yore.   

Infiniti Q30 will debut at Frankfurt Motor Show

The Infiniti Q30 made its debut as a svelte concept at the 2013 Frankfurt Motor Show. Now, two years later, the luxury hatchback will make a big return to the German show in September to launch in production guise. Before the end of the year, the first Q30s will start showing up for sale in European showrooms to take on rivals like the Audi A3. To tease the launch, Infiniti has released this single image of the Q30 going through final validation testing on the road. Unfortunately, it's still wearing a very effective camouflage pattern – just like some previously spied examples. Still, we can tell that there are definite similarities to the hatchback's stylish QX30 compact crossover sibling, which is also on the way. Both of them have sharply pointed, narrow headlights and steeply raked hatches. We can also just make out the deeply creased swage line that cuts through the front door handles and then dips down in this photo. Infiniti promises more details to come about the Q30 before the Frankfurt launch. At least for European examples, assembly is reportedly earmarked for the Sunderland factory in the UK. Related Video: Infiniti Q30 to debut at Frankfurt IAA 2015 All-new Q30 compact entry to debut 90 days from today to the public Infiniti's first-ever compact car currently going through validation and dynamic tuning in Europe Sales to begin in Europe before end of 2015 HONG KONG – Infiniti will unveil its first-ever compact car at the International Motor Show in Frankfurt in September this year (September 17 to 27). Two years after the Infiniti Q30 Concept debuted at the 2013 Frankfurt show, the production version of this segment-spanning compact car will be revealed at the show this year. Infiniti is in the final stages of preparing the launch. Dynamic testing and ultimate validation is currently taking place across the UK and throughout mainland Europe where development of the vehicle has been completed at the company's Engineering Center in Cranfield, UK, since 2014. The Q30 will go on sale in Europe towards the end of 2015 with other markets to follow subsequently. More news on the Infiniti Q30 active compact will be released closer to the Frankfurt show in September. About Infiniti Infiniti Motor Company Ltd. is headquartered in Hong Kong with sales operations in over 50 countries. The Infiniti brand was launched in 1989. Its range of premium automobiles is currently built in manufacturing facilities in Japan, the United States and China.