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Nissan reportedly rejecting Renault proposal for closer ties

TOKYO — Nissan Motor Co Ltd will reject a management integration proposal from French partner Renault SA and will call for an equal capital relationship, the Nikkei newspaper said on Monday, citing sources. Nissan's management feels the Japanese company has not been treated as an equal of Renault under existing capital ties, and a merger would make this inequality permanent, the Nikkei reported. The outlook for the alliance — one of the world's top automaking partnerships — has been in focus since the arrest in November of its main architect, Carlos Ghosn, on charges of financial misconduct. The former Nissan and Renault chairman has denied the charges against him and has said he was the victim of a boardroom coup by Nissan executives opposed to closer ties. To which, Bloomberg reported that it has seen emails in which Nissan executives were working with Japanese government officials to defend the company's independence, as Ghosn was pushing for a full merger. The emails indicate growing concern at high levels of the Japanese government, in the months before Ghosn's arrest, that his merger efforts would boost Renault and its largest shareholder, the French government, and harm Nissan, in a relationship the Japanese already saw as lopsided. The emails indicated a desire to keep the existing structure of the alliance with a "re-balancing of the shareholding" to reduce Renault's 43 percent stake in Nissan, and stated that Nissan's independence "should be respected." Nissan declined to comment directly on the emails, while reiterating that misconduct by Ghosn and his former aide, Greg Kelly, is "the sole cause of the chain of events." Renault saved Nissan from the brink of bankruptcy two decades ago and under their current capital alliance, the French company holds greater control over its much larger partner. Nissan Chief Executive Hiroto Saikawa declined to say whether the company had received a merger proposal from Renault. "Now is not the time to think of such things," he told a group of reporters outside of his house in Tokyo. "At the moment we are focused on improving Nissan's earnings performance. Please give us time to do that." Renault declined to comment on the report. Renault has argued in its proposal that an integration would maximize synergies within the French-Japanese alliance, according to the Nikkei. The Financial Times reported last month of Renault's intention to restart merger talks with Nissan within 12 months.

Nissan recalls 3.5 million vehicles over airbag sensor

Nissan is recalling 3.53 million vehicles globally – 3.2 million in the United States – because the front passenger airbag may or may not deploy properly in the event of a crash. In affected vehicles, the occupant sensing system may not properly register a person sitting in the passenger seat. Passenger-side airbags in roughly 622,000 Nissan Sentra models built between 2013 and 2016 may deploy in crashes when they shouldn't, such as when a child is in the seat. 2016-2017 Nissan Maxima, 2013-2016 Nissan Altima, NV200, and LEAF, 2013-2017 Nissan Pathfinder, 2014-2016 Nissan NV200 Taxi, Infiniti QX60 and Q50, 2014-2017 Nissan Rogue, 2015-2016 Nissan Murano, Chevrolet City Express and 2013 Infiniti JX35 vehicles suffer from the opposite problem. In those models, the airbag may not deploy when it is supposed to. Nissan is aware of at least three crashes where airbags in one of the above models did not function properly, resulting in "moderate injuries." There have already been four recalls since 2013 for similar issues in Nissan vehicles. If you own one of these cars, expect a letter from Nissan in short order (or from GM if you own a Chevy City Express). Related Video: RECALL Subject : Passenger Air Bag may not Deploy due to OCS Error , 1 INVESTIGATION(S) Report Receipt Date: APR 26, 2016 NHTSA Campaign Number: 16V244000 Component(s): AIR BAGS Manufacturer: Nissan North America, Inc. SUMMARY: Nissan North America, Inc. (Nissan) is recalling certain model year 2016-2017 Nissan Maxima, 2013-2016 Nissan Altima, NV200, LEAF and Sentra, 2013-2017 Nissan Pathfinder, 2014-2016 Nissan NV200 Taxi, Infiniti QX60 and Q50, 2014-2017 Nissan Rogue, 2015-2016 Nissan Murano, Chevrolet City Express and 2013 Infiniti JX35 vehicles. In these vehicles, the front seat passenger Occupant Classification System (OCS) may incorrectly classify an adult passenger as a child or classify the seat as empty despite it being occupied. As a result, the passenger frontal air bag may be turned off and not deploy in the event of a crash. CONSEQUENCE: If the passenger frontal air bag does not deploy as intended in the event of a crash, the passenger is at an increased risk of injury. REMEDY: Nissan will notify their owners. Chevrolet City Express owners will be notified by General Motors.

Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade