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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.

'Car Wars' says Ford, Honda to pick up share, Fiat-Chrysler ambitions downplayed

Don't look for a tremendous shifts in automotive market share over the next three years because it might not be coming. That's at least according to the annual Car Wars report by John Murphy, from Bank of America Merrill Lynch Global Research.
In the report's analysis of automakers' market share from 2013 to 2017, it predicts only small changes among the major companies. Ford and Honda see the biggest positive effect with an estimated 0.5 percent increase in their shares over the next three years; to 16.2 percent and 10.3 percent respectively. On the flip side, European automakers and Nissan are expected to lose 0.2 percent each to fall to 8.3 percent and 7.8 percent each respectively. The rest of the industry is predicted to hold steady as it is now.
The biggest loser in that prediction might be Fiat-Chrysler Automobiles. The report certainly throws a wet blanket on its plan for significant gains in market share. Murphy told The Detroit News that the company's goal was "almost unattainable."

Recharge Wrap-up: first Chevy Volt hits 200K miles, DriveNow launches in London with BMW i3 on deck

The first Chevrolet Volt has driven over 200,000 miles. According to the owner, Erick Belmer, the car, which he purchased on March 28, 2012, is "holding up flawlessly" with "no noticeable battery capacity loss." Belmer has a commute of about 220 miles per day, rotates his tires every 10,000 miles, and gets an oil change every 38,000 miles. Belmer still loves driving his "dream car" every day, and says it is "wonderfully engineered." Read more at Inside EVs. DriveNow has launched in London, and will include the BMW i3 as part of its carsharing fleet. Daimler shut down its Car2go operations there just six months ago. Currently, DriveNow members have access to the BMW 1 Series and Mini Countryman, but come spring of 2015, DriveNow, which is a joint venture between BMW and Sixt SE, will add 30 all-electric i3 EVs to its London service. DriveNow's rates for London are set at 39 pence per minute, with an hourly maximum cost of GBP20 (about 61 US cents and $31, respectively). The service currently operates in the boroughs of Islington, Haringey and Hackney, with hopes of expanded service in the near future. Read more at Hybrid Cars or at Reuters. FIA's Formula E electric racing championship series received the Autosport award for Pioneering and Innovation. The award ceremony was a black-tie event at the Grosvenor House Hotel in London. Formula E CEO Alejandro Agag accepted the award. "Many people in motorsport, when we started Formula E, didn't think we would make the first race," says Agag. "To announce we were doing a championship with cars that didn't then exist was a real challenge. But after that first race in Beijing, everything worked." Read more at Formula E's website. The Nissan Leaf has driven over a billion collective kilometers. That's more than 621.3 million miles. Nissan said in August that it expected to reach that mark by January, and it has done just that. To celebrate, Nissan Europe has created a video to thank its 147,000 Leaf drivers to bring the car to that substantial milestone in less than four years. Check out the video below. Featured Gallery 2014 Chevrolet Volt View 11 Photos Related Gallery 2014 BMW i3: First Drive View 33 Photos Related Gallery 2013 Nissan Leaf: First Drive View 15 Photos News Source: Inside EVs, Hybrid Cars, Reuters, Formula E, YouTube: Nissan EuropeImage Credit: Chevrolet Green BMW Nissan Transportation Alternatives Electric Racing Vehicles recharge wrapup