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Nissan's Carlos Ghosn reportedly arrested, to be fired for financial misconduct

TOKYO — Nissan Motor Co said it was ousting Chairman Carlos Ghosn for alleged financial misconduct and Japanese media reported he been arrested, a shocking fate for a leader hailed for rescuing the company from close to bankruptcy. The Japanese automaker said Ghosn's alleged misconduct included personal use of company money and under-reporting how much he had been paid. Ghosn is also chairman and chief executive of Nissan's French partner Renault and one of the best-known figures in the global car industry, and his departure would raise question about the future of the alliance. Nissan said it launched an months-long investigation after a whistleblower tipped it off to wrongdoing by Ghosn and Representative Director Greg Kelly. "The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn's compensation," Nissan said in a statement. It said CEO Hiroto Saikawa would propose that the Nissan board remove Ghosn and Kelly. Neither Ghosn nor Kelly could be reached for comment. Renault shares tumbled 11 percent in Paris to be among the worst performing stocks in Europe. Nissan's German-listed securities plunged 10 percent. French President Emmanuel Macron said the government, the French carmaker's top shareholder, will be vigilant about Renault and its alliance with Nissan. Cost cutter Known as "Le Cost Killer," Ghosn is credited for reviving the Japanese automaker and has remained popular despite the massive job cuts that he brought and recent controversy over his lucrative pay package. Japanese media reported that Ghosn had reported around 10 billion yen worth of compensation as around 5 billion yen. Ousting Ghosn, 64, is bound to raise questions about an alliance that he personally shaped and had pledged to consolidate with a deeper tie-up, before eventually stepping back from its operational leadership. "The initial share price reaction shows how pivotal he is," Citi analyst Raghav Gupta-Chaudhary said on Monday. The current alliance structure has long undervalued Nissan shares held indirectly by Renault investors, he added. "Ghosn is viewed as critical for value unlock." Renault owns 43.4 percent of Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999.

Wards names its 2015 10 Best Interiors list

Wards Automotive has named the winners of its 10 Best Interior awards, covering a wide but affordable array of vehicles. Where last year's list contained two six-figure vehicles, including the $372,800 Rolls-Royce Wraith, this year's is, well, a whole lot more reasonable. The publication lists the Mercedes-Benz C400 at $65,000 (which seems off), making it the most expensive vehicle here. That said, we'd argue that the entire C-Class line deserves to make this year's list, owing to its varied and high-quality selection of materials. The other vehicle to break the $60,000 mark, meanwhile, is the $60,675 Ford F-150 King Ranch, which has 327,000 pounds of leather lining its interior. Only one other German car, the BMW i3, and one other pickup truck, the GMC Canyon, managed to make this year's list. Here's the full list of this year's winners: 2014 BMW i3 ($52,550) 2015 Chrysler 300C Platinum ($51,175) 2015 Ford F-150 King Ranch ($60,675) 2015 GMC Canyon SLT ($40,465) 2015 Honda Fit EX-L ($21,590) 2015 Jeep Renegade Limited ($33,205) 2015 Kia Sedona SXL ($43,295) 2016 Mazda6 Grand Touring ($33,395) 2015 Mercedes C400 ($65,000) 2015 Nissan Murano SL ($41,905) See what we mean about the mainstream vehicles? Not only is there a distinct lack of luxury brands, it's the price of some of the vehicles that surprise. The Honda Fit, Jeep Renegade and Mazda6 are very reasonably priced, especially when you compare Wards price with the starting price. The Renegade Limited starts at less than $25,000, the Mazda at less than $22K and the Fit at under $16,000. Head over to Wards for a more detailed explanation of why each vehicle won. Featured Gallery 2015 Ward's Automotive 10 Best Interiors View 10 Photos News Source: Wards Automotive BMW Chrysler Ford GMC Honda Jeep Kia Mazda Mercedes-Benz Nissan Truck Crossover Hatchback Sedan nissan murano gmc canyon Interior jeep renegade WardsAuto kia sedona wards 10 best interiors mercedes c400

2015 Nissan Murano First Drive

The Murano has an interesting position within the Nissan stable. On one hand, its size puts it between the Rogue and Pathfinder, both of which are geared more toward families, big and small. And while the Murano could easily be used for hauling your brood, that's not exactly its forte. After all, unlike it's siblings, it offers no third row accommodations. There's no rear-seat entertainment system available. There are no clever storage systems. That's because, in Nissan's eyes, the Murano is the flagship of its crossover range, and it's geared more toward older couples – empty-nesters, or folks who just never got around to having kids. This allows the Murano to be more premium in terms its styling and its available content. The Murano is less about taking the kids to soccer practice and more about taking four adults out to a wine tasting. Premium styling is indeed the big story here – this Murano looks fantastic, and is a rather dramatic departure from the oft-disliked second-generation model it replaces. Beyond that, the new Murano is more in line with the radical-looking, first-gen CUV that debuted in the early 2000s. But Nissan says the whole Murano package was developed with this flagship theme in mind – the company's executives call this the Maxima of its crossovers. To find out if that all holds true for the 2015 Murano, I headed up to California wine country – the vehicle's natural habitat, I've been led to understand – to see what's what. When it came time to pen the 2015 model, Nissan strived to "push the reset button." I don't think anyone loves the Nissan Murano as much as the automaker's senior creative manager in North America, Ken Lee. While presenting the third-generation crossover to members of the media during the car's launch in Napa, CA, Lee said it was the original Murano that made him want to work for Nissan in the first place. So when it came time to pen the 2015 model, Lee strived to "push the reset button," and create a product with an equally strong styling statement. The goal here was to design a Murano that would resonate as a premium vehicle not only as part of the Nissan lineup, but within the midsize crossover segment as a whole. I use the word "resonate" for a reason. Think back to the 2013 Detroit Auto Show, when Nissan debuted its Resonance concept – an aggressive, modern showcar that clearly showed a new direction for not just the Murano itself, but for all of the Japanese automaker's future designs.