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Nissan, least profitable Japanese automaker in Q3, stays strong on EVs

Nissan had some not-so-good financial news to report today. Despite a 57-percent net income increase, Nissan was Japan's least-profitable carmaker for the third quarter of last year. A weak yen helped put the company's operating profit below the estimates of financial analysts. In a speech on the financial situation, Nissan corporate vice president Joji Tagawa said "These results, however, do not reflect the full potential of Nissan." Given our focus on expensive electric vehicles, among other things, we wondered how this might affect EVs. One of the financial analysts told Bloomberg that the news is a "crisis" at the company, but the official word is that things are steady as she goes on the EV front. In his speech, Tagawa reaffirmed the company's strong belief in plug-in vehicles, saying that "Nissan's EV strategy will accelerate with the launch in fiscal 2014 of the e-NV200, the second all-electric model available globally." That electric van has the potential "to transform emissions among commercial vehicles" and Nissan remains interested in initiatives such as EV carsharing in Japan and the continued deployment of charging infrastructure. The speech transcript is available below. In a statement to AutoblogGreen, Billy Hayes, Nissan's vice president and program director, said that, "Nissan considers zero emission vehicles to be the ultimate solution for realizing sustainable mobility in the future and is strongly committed to EV technologies. Nissan's investment in Leaf and EV technology is positive for the company's business results over the lifecycle, and accelerating sales of Leaf only help to build economies of scale and improve the business model for the technology further." FY13 3Q financial results Nissan Motor Co., Ltd. Joji Tagawa, Corporate Vice President Introduction For the nine-month period, Nissan has made solid progress to improve its business performance. The pro forma nine-month financial results, and particularly those of the third quarter, are up compared to the same period last year, despite intense competition and uncertain economic conditions. These results, however, do not reflect the full potential of Nissan. Looking ahead to the quarter ending March 31, 2014, we expect to continue to improve our business results and as such, we are maintaining our prior profit outlook for the fiscal year.

2014 Nissan Frontier Diesel Mule [w/poll]

Last August, Nissan shook the truck world when it officially announced plans to source a diesel option from Cummins for its long-overdue Titan replacement, its full-size pickup that's slated to drop this January at the Detroit Auto Show. The 5.0-liter V8 turbodiesel is expected to make somewhere around 300 horsepower and north of 500 pound-feet of torque. This combination of an all-new truck with this new powerplant promises to dramatically change the competitive landscape, splitting the difference between the heavy-duty goliaths from the Detroit Three and the Ram 1500 Ecodiesel. And the intrigue moved a step further when the Frontier Diesel Runner Concept showed up at February's Chicago Auto Show, as it displayed a growing relationship between Nissan and Cummins in a very interesting potential future product.
That concept would melt its clear acrylic hood if the engine ran too long, but this month, we got a chance to test drive a production mule, an otherwise normal Frontier with a Cummins 2.8-liter diesel four-pot under the hood and a ZF eight-speed automatic changing gears. The powertrain figures to be a direct competitor to the 2.8-liter Duramax promised for General Motors' Chevrolet Colorado and GMC Canyon twins, but will Nissan build it? All signs point to probably. Officially, Nissan is taking no position on the future of this program, but a concept followed by putting journalists into a test mule suggests the company is considering the option very seriously. Here's what we gleaned from a brief drive around the posh suburbs of Nashville:
Before we get too deep into this Quick Spin, realize this Frontier is absolutely a mule, not a prototype. More or less cobbled together with duct tape and baling wire, it's not meant to be representative of a finished product, or even a started product. The transmission and shifter is straight out of a Chrysler 300 and the shifter surround is cut out of a panel of plastic. The "Low Sulfur Diesel Only" sticker is, well, just stuck on. We're looking at a "What if?" mockup.

Why Japan's government is looking to curb its adorable kei car market

Each region around the world has its stereotypical vehicle. The US has the pickup and Europe the five-door hatchback; but in Japan, the kei car reigns supreme. These tiny cars are limited to just 660cc of displacement but they've also come with lower taxes to make them more affordable. To make of the most of their small size, they've often had quite boxy styling like the Honda N-One shown above, and because they're Japanese, they've often had quirky names like the Nissan Dayz Roox. However, if the Japanese government has its way, the future popularity of these little guys might be in jeopardy. The problem facing them is that Japan is an island both literally and figuratively. After World War II, the Japanese government created the class as a way to make car ownership more accessible. The tiny engines generally meant better fuel economy to deal with the nation's expensive gas, and the tax benefits also helped. It's made the segment hugely popular even today, with kei cars making up roughly 40 percent of the nation's new cars sales last year, according to The New York Times. The downside is that these models are almost never exported because they aren't as attractive to buyers elsewhere (if indeed they even meet overseas regulations). So if an automaker ends up with a popular kei model, it can't really market it elsewhere. The government now sees that as a threat to the domestic auto industry. It believes that every yen invested into kei development is wasted, and the production takes up needed capacity at auto factories. The state would much rather automakers create exportable models. To do this, it's trying to make the little cars less attractive to buy, and thus, less attractive to build. The authorities recently increased taxes on kei cars by 50 percent to narrow the difference between standard cars, according to the NYT. If kei cars do lose popularity, it could open the market up to greater competition from foreign automakers. Several companies complained about the little cars stranglehold on the Japanese market last year, but since then, imported car sales there have shown some growth thanks to the improving economy. Featured Gallery 2013 Honda N-One View 20 Photos News Source: The New York TimesImage Credit: Honda Government/Legal Honda Nissan JDM kei kei car