2010 M35: One-owner, Technology, Journey, Premium Plus, Inspected, Serviced on 2040-cars

Auto blog

Nissan CEO Hiroto Saikawa resigns, successor to be named

YOKOHAMA, Japan — Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation. Board member Yasushi Kimura told reporters at an evening news conference at company headquarters in Yokohama that the board has approved Saikawa's resignation, effective Sept. 16, and a successor will be appointed next month. A search is underway, he added. Calls for Saikawa's resignation, which arose after the arrest last year of his predecessor, Carlos Ghosn, on various financial misconduct allegations, have grown louder after Saikawa acknowledged last week that he had received dubious payments. The income was linked to the stock price of Nissan Motor Co., and he has said his pay got inflated by illicitly adjusting the date for cashing in. The automaker's board met to look into the allegations against Saikawa, as well as other issues related to Ghosn's allegations and corporate ethics at the company. Kimura said the income Saikawa had received was confirmed as "not illegal." Ghosn, who is out on bail and awaiting trial, says he's innocent. Kimura and three other board members, who all have backgrounds outside the company, said their investigation of the scandal over Ghosn's arrest found that alleged misconduct by Ghosn and Greg Kelly, a former board member who was also arrested, had caused 35 billion yen ($350 million) in damage to the company. Nissan will seek a repayment of the damages, Kimura said. The board said about 10 candidates are being considered as a replacement for Saikawa. They did not identify them, but said outsiders and non-Japanese are on the list. Until a successor is decided, Chief Operating Officer Yasuhiro Yamauchi will serve as interim chief, the board said. Saikawa has not been charged. "I have been trying to do what needs to be done so that I can pass the baton over as soon as possible," he told reporters earlier in the day, referring to his willingness to leave his job. Saikawa did not appear at the news conference initially, but the four board members who led the event said he would later. Saikawa has said he didn't know about the improprieties, promised to return the money and blamed the system he said Ghosn had created at Nissan for the dubious payments. Japanese media reports said Saikawa had received tens of millions of yen (hundreds of thousands of dollars) in extra compensation.

Infiniti Prototype 10 single-seat speedster unveiled at Pebble Beach

PEBBLE BEACH, Calif. — Infiniti's new Prototype 10 takes inspiration from last year's Prototype 9 concept, but instead of minimal bodywork and open wheels, adopts the long and sinuous profile of classic speedsters of the past. And the concept's electric powertrain hints at the Japanese automaker's future. Infiniti says that all new production models from 2021 onward will have some sort of electrification, spread across pure battery-electric vehicles, parallel hybrids and e-POWER series hybrid powertrains. The overall shape of the Infiniti Prototype 10 recalls classic race cars like the 1950s-era Jaguar C- and D-Types. There's virtually zero wind protection for the single passenger, but there's a prominent headrest that incorporates a fin-shaped aero element. Air intakes are plentiful and festooned with close-set vertical bars that remind us of last year's Prototype 9 concept. There are lots of striking details in the Prototype 10's flowing bodywork. Slim, almost slit-like lights up front sit below the level of an Infiniti logo highlighted by negative space. In profile, a virtual line cuts across the vehicle front to rear. We look forward to seeing how some of these elements are incorporated into future production vehicles from Infiniti. View 17 Photos We don't have any details on what's actually powering the Prototype 10 as its sits, other than the fact that it's electric, of course. But we do know that the concept uses Infiniti's steer-by-wire Direct Adaptive Steering system. We can also see that the interior compartment is minimalist in design, clearly in an effort to keep the driver's focus firmly on the road ahead. Though much of the commentary surrounding the Prototype 10 will undoubtedly be about its radical bodywork, it may be the vehicle's chassis that is most relevant to Infiniti's production electric vehicle plans. The company describes the Prototype 10's chassis as rigid, modular and flexible with a flat floor and says such a platform would underpin its future electrified vehicles, including sedans, SUVs and sportscars. Stay tuned for more on the Infiniti Prototype 10 as we meander the remainder of Monterey Car Week here in California. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Hyundai, Genesis, Subaru warn their dealers about markups

Six weeks ago, word got out that Ford's VP of sales for the U.S. and Canada wrote one of those "It has come to our attention..." e-mails to the automaker's dealer body. The VP's problem was dealers trying to get reservation deposits for the Ford F-150 Lightning well above the official $100 fee. The tomfoolery resulted in interactions "with customers in a manner that is negatively impacting customer satisfaction and damaging to the Ford Motor Company brand and Dealer Body reputation." Two weeks later, GM told its dealers to cut out the reservation gaming and the markups on the 2023 Chevrolet Corvette Z06, banditry that's been going on for two years. Two weeks ago, Ford was back at it, this time about markups on the Bronco. Last week, Asian automakers swept into the melee, with Hyundai and Genesis, Subaru, and Infiniti writing letters to their dealers to deliver some variant of, "Stop pissing off the customers." Automotive News reported an SVP at Hyundai Motor America and the COO at Genesis Motor North America sent letters to their dealers expressing disappointment at "certain pricing practices which, if left unchecked, will have a negative impact on the health of our brand." One of the practices mentioned was dealer markups, another was the bait-and-switch, with dealers advertising one price then charging a higher price once the customer showed up at the lot. The letters acknowledged that dealers are separate companies to the automakers and have the right to set their own prices. The automakers cannot interfere with that; their leverage is distributing allocations and perks such as advertising support and financial incentives. So, like a movie boss letting the protagonist go on a technicality, the brands wrote, "we cannot stand idly by watching the actions of the aforementioned dealers undo all the efforts we collectively have put into making these brands what they are today." Jalopnik got tipped to a letter Subaru of America CEO Thomas Doll sent to that brand's dealers. Doll's polite yet insistent tone was the result of a letter a loyal Subaru owner sent to the automaker's VP of Customer Advocacy. In the market for a third brand-new Forester, the owner said they encountered a "tax" labeled a "Low Inventory Surcharge" of as much as $6,000, putting the Forester out of reach.