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Nissan announces 5-year/100,000-mile bumper-to-bumper warranty for commercial vehicles

Nissan is a relative new-kid when it comes to the commercial van market in the US, with its commercial vehicles division only introducing the first NV vans in February 2011. But Nissan isn't letting its newcomer status keep it from challenging the established players in the segment. The company's latest shot over competitors' bows is announcing that, starting for the 2014 model year, its NV Cargo, NV Passenger and NV200 Compact Cargo vans carry a best-in-class, five-year/100,000-mile bumper-to-bumper warranty. Their powertrain coverage also gets a 40,000-mile increase to five years/100,000 miles.
The new warranty is a huge leap over adversaries in the segment and should lure in some buyers looking for a longer term of coverage. The Mercedes-Benz Sprinter, Ram ProMaster, Ford Transit and Transit Connect all carry a three-year/36,000-mile bumper-to-bumper warranty. The Fords offer five years and 60,000 miles of powertrain coverage, while all of the others increase that to 100,000 miles. Until this announcement, Nissan had the standard thee years of coverage, as well.
The Japanese automaker is clearly hungry to grab a bigger piece of the commercial van pie. Its heavy-duty NV vans have a relatively small 5.3 percent market share in their segment as of May 2014, according to the company's figures, but the NV200 is doing better with a 19.4 percent share. The division as a whole is on the upswing, though, with sales up 88 percent so far in 2014. With just a few years under its belt, Nissan Commercial Vehicles seems unafraid to challenge the status quo in the segment. Let's see how buyers respond. Scroll down to read the full announcement about the new warranty.

European new car sales drop nearly 8% in first half of 2019

PARIS — European car sales dropped 7.9% in June, led by bigger declines for Nissan, Volvo and Fiat Chrysler (FCA), according to industry data published on Wednesday. Registrations fell to 1.49 million cars last month from 1.62 million a year earlier across the European Union and EFTA countries, the Brussels-based Association of European Carmakers said in a statement. Calendar effects resulted in two fewer sales days in most markets, accentuating the decline. Registrations for the first half closed 3.1% lower, ACEA said. For European carmakers, weakening demand at home compounds the pressure from a sharper contraction in China and emerging markets that may yet bring more profit warnings. NissanÂ’s aging model lineup contributed to a 26.6% June sales slump while Volvo Cars, owned by ChinaÂ’s Geely, saw deliveries tumble 21.7%. Registrations also fell 13.5% last month at FCA, 10.1% at BMW, 9.6% at Volkswagen Group and 8.2% for both Mercedes parent Daimler and FranceÂ’s PSA Group. The Peugeot makerÂ’s domestic rival Renault suffered less, posting a 3.9% decline. By the Numbers BMW Chrysler Fiat Nissan Volkswagen Volvo Peugeot Renault

Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.