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Nissan reports $4.13B net income for 2012

The news for Nissan is good when it comes to the company's results for the 2012 financial year that ended on March 31. Even though the numbers were down in many of the world's major markets, increased sales in the US, Brazil and the Middle East, ten new models and a strong fourth quarter allowed Nissan to hit its target for the year and notch record sales of 4.914 million units globally. On net revenue of $116 billion, Nissan posted net income of $4.13 billion and an operating profit of $6.31 billion.
There are upward-looking projections for this year, Nissan forecasting a 7.8-percent jump in sales to 5.3 million units, with $117.89 billion in net revenue and $4.42 billion in net income. That net revenue number probably won't actually match what's reported next year, though, because Nissan is changing its accounting method and won't include revenue and operating profit results from its joint venture with China's Dongfeng. Net income doesn't change under the new method, but the adjusted net revenue forecast is $109.16 billion.
There's a press release and two videos below with more details for those of you who go gaga for annual reports.

Renault's new Talisman smacks of Maxima [UPDATE]

UPDATE: Well, despite taking up virtually the same amount of space on the road, Nissan spokesperson Josh Clifton confirmed to Autoblog that there's "no linkage on the two vehicles," and that "they weren't developed in tandem." The story has been edited to reflect this information. While Renault and Nissan maintain a strong alliance, the amount of sharing between the two brands is generally pretty subtle. The two automakers haven't made a habit of rebadging the other's products, although we'd surely support rebadging the Renault Clio or Megane as the new Versa or Sentra, especially if the RenaultSport versions were rebadged as Nismo models. That's not likely to change with the new Renault Talisman The big four-door sedan is the latest vehicle to ride on Renault-Nissan's Common Module Family, which also underpins the current Espace MPV. While it may wear Renault's diamond logo and ride on the Espace's platform, the new Talisman sedan takes up almost exactly the same amount of space on the road as the new Nissan Maxima. There's less than two inches separating the two sedans' overall length and wheelbase, while differences in width and height are negligible. The similarities end with the size, though. While the Maxima is only offered with a 3.5-liter V6 and continuously variable transmission, the Talisman will be available with a range of four-cylinder engines. There will be three diesels, available in 110-horsepower, 130-hp, and 160-hp varieties, along with a pair of gas engines, delivering 150 and 200 hp, respectively. The diesels can only be mated to six-speed transmissions (manuals are available for the 110 and 130-hp models), while the petrol mills are limited to seven-speed dual-clutch units. The Renault will also offer four-wheel steering, in the form of the company's 4Control system, and active dampers. While not pictured here, the Talisman will also be offered as a five-door wagon. You can expect to see both the sedan and long-roof models when Renault shows its newest entries in September, at the 2015 Frankfurt Motor Show. Related Video: THE TALISMAN Renault's new saloon packs style and real driving enjoyment Renault is proud to reveal its new executive saloon. The evocatively named TALISMAN ticks all the boxes that D-segment customers have come to appreciate, while taking wellbeing and driving enjoyment to a new level. The Renault TALISMAN features a unique combination of: • Assertive styling: sleek, elegant lines.

Nissan names Makoto Uchida as next CEO

TOKYO — Nissan named Makoto Uchida, the head of its Chinese business, as its next CEO, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" — direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 58-year-old former theology student can deliver a miracle turnaround — particularly at Nissan's business in the United States — and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'ISN'T REALLY JAPANESE' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.