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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.

Bug-eyed next-gen Nissan Titan spied testing

It's no secret that the fullsize pickup truck market is dominated by offerings from Detroit's Big Three automakers, the Nissan Titan and Toyota Tundra not able to outdo the Ford F-150, Ram 1500 or Chevy Silverado/GMC Sierra twins. A great deal of that has to do with the fact that, while the American trucks have all undergone evolutionary updates that include a range of body styles, fuel-efficient engines and excellent technology, the Japanese offerings are, well, really old. Toyota is offering an updated Tundra for the 2014 model year, and while we haven't driven it yet, we're already betting that it's still behind the pack in terms of competitiveness - the 2013 model placed fifth out of sixth in a recent PickupTrucks.com comparison test.
At the bottom of the pack lies the Nissan Titan, a truck that hasn't received any sort of substantial update since its introduction nearly ten years ago. But that's going to change - a new truck is slated to debut for the 2015 model year, and these spy shots of a Titan mule clearly show that things are moving forward.
While this tester relies heavily on the current truck's bodywork for testing purposes, the new Titan will have a revised design, some of which is evidenced by the bug-eyed front fascia of this mule. No, the production model isn't going to look all weird (we hope), but the higher, more outboard headlight placement suggests that the new truck will be a bit wider than the current model.

Nissan to give Qashqai the Nismo treatment

Nismo is on a bit of a rampage lately. Once consigned to the fringes, Nissan has taken its performance sub-brand into the mainstream and let it loose on a whole mess of its products. The Juke Nismo was followed by a 370Z Nismo, and in Los Angeles, we saw the GT-R Nismo, Sentra Nismo concept and Juke Nismo RS.
So what's next from Nismo? According to the latest intel from across the pond, Nissan is working on a tuned version of its new Qashqai. Car magazine is reporting that the larger crossover will get the same 1.6-liter turbo four as the Juke Nismo, but with the RS model's 212-horsepower out and not the "base" model's 197. Expect all the other bells and whistles applied to transform a Nissan model into a Nismo one to apply as well.
If the Qashqai name doesn't ring any proverbial bells for you, that's alright, because it's only sold overseas, where it's one of Nissan's most popular models. The crossover (which looks like the new Rogue but is a substantially different model) was recently completely replaced, with engine options ranging up to 150 horsepower - so the jump to over 200 should make for quite a different beast altogether. Whether a parallel or subsequent program to give the Rogue a similar treatment is another matter, but given the pace at which Nismo seems to be running, that may only be a matter of time.