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Nissan CEO Uchida says he's willing to be fired if turnaround fails

YOKOHAMA — Nissan's new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan's second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. Makoto Uchida, who took over the top job in December, put his job on the line at the automaker's shareholders' meeting, where he faced demands ranging from cutting executive pay to offering a bounty to bring Ghosn back to Japan after he fled to Lebanon. Nissan's worsening performance has heaped pressure on Uchida, formerly Nissan's China chief who became its third CEO since September, to come up with aggressive steps to revive the company. On Tuesday, Uchida, who was repeatedly heckled by shareholders, said he was ready to face dismissal if he failed to improve profitability at the company, which is on course to post its worst annual operating profit in 11 years. "We will make sure that we steer the company in an effective way so that it is visible in the eyes of viewers. I will commit to this: if the circumstances remain uncertain you can fire me immediately," he said. Uchida, 53, did not give a timeframe for improving Nissan's performance. The new boss must prove to the board he can accelerate cost-cutting and rebuild profits at the 86-year-old Japanese giant, and that he has the right strategy to repair its partnership with France's Renault, sources have told Reuters. Uchida pleaded with shareholders to be patient while he comes up with a plan by May to recover from crumbling profits and a corporate shake-up following Ghosn's arrest in Japan in late 2018 over financial misconduct charges. "If you can be patient a little bit longer, on a day-to-day basis you will be able to sense we are changing," he said. Ahead of the meeting, some shareholders demanded more clarity about Uchida's plan. "I just want to know what the plan for recovery is. At the moment, the share price has dropped again, and the value of the company has plummeted," said a 70-year-old former employee who owns shares in the company. "If this is the situation, part of me thinks that we would be better off with Ghosn ... If we don't get a clearer vision of the path the company is taking, it will be a worry." Nissan's shares are trading around their lowest level in more than a decade following its latest earnings.

Nissan recalls 2015 Murano over ABS actuators

A problem discovered with its anti-lock brakes has prompted Nissan North America and the National Highway Traffic Safety Administration to issue a recall for the 2015 Murano crossover. The problem revolves around the actuators for the ABS, whose solenoid valves may be contaminated. That could, according to the recall notice below, cause the hydraulic brake pressure to either build up or drop completely, potentially destabilizing the vehicle and increasing the risk of a crash. The issue affects an estimated 9,614 units in the United States - plus another 116 in Puerto Rico and 839 in Canada - specifically those built between December 4, 2014, and March 17, 2015. The owners of those vehicles will need to take their Muranos in to their local dealers to have the ABS actuators inspected, and if necessary, replaced. The recall is slated to commence in early August, but in the meantime, dealers have been ordered to stop selling those vehicles affected until they can be attended to. Nissan spokesman Dan Passe confirmed to Autoblog that no accidents or injuries were reported to have resulted from the issue being addressed. At the same time, Nissan has also announced a second, much smaller recall for another of its crossover models. This one affects the 2015 Rogue Select – specifically those manufactured between November 17, 2014, and December 12, 2014, and fitted with 17-inch wheels. That, according to NHTSA, amounts to just 110 units, whose tires may be incorrectly labeled. To fix it, Nissan will be sending owners new labels with the correct payload information in compliance with federal regulations. Related Video: RECALL Subject : ABS Actuator may Malfunction Report Receipt Date: JUN 10, 2015 NHTSA Campaign Number: 15V364000 Component(s): SERVICE BRAKES, HYDRAULIC Potential Number of Units Affected: 9,614 Manufacturer: Nissan North America, Inc. SUMMARY: Nissan North America, Inc. (Nissan) is recalling certain model year 2015 Murano vehicles manufactured December 4, 2014, to March 17, 2015. These vehicles are equipped with Anti-Lock Braking System (ABS) actuators which may have contamination in the solenoid valves, potentially affecting the valves' ability to completely close and allow a build up of hydraulic brake pressure, or fully open and allow the hydraulic brake pressure to completely drop.

10 automakers sued over keyless ignitions

Keyless ignition has rapidly proliferated throughout the auto industry to become a fairly normal feature on new cars. It's supposed to offer the convenience of keeping the fob in your pocket and just pressing a button to drive away. However, ten major automakers are now being sued in US District Court over claims that the system is dangerous, Reuters reports. The suit alleges that people are forgetting to shut off the engine, and the lack of an idle timer is the cause for 13 deaths by carbon monoxide poisoning and multiple injuries. The suit currently includes 28 plaintiffs, according to Reuters, but the lawyers are asking for class-action status to potentially add many more. The case goes after a major swath of the industry, including BMW, Daimler, FCA, Ford, General Motors, Honda, Hyundai, Nissan, Toyota, and Volkswagen, plus their related brands like Acura, Infiniti, Mini, and Lexus. In all, over five million vehicles are affected. The assertion here is that people walk away from their vehicle without shutting it off because they believe the engine shuts off automatically. If parked in a garage, carbon monoxide can build up, leading to poisoning. The lawyers claim automakers know this is a problem and also cite 27 complaints to the National Highway Traffic Safety Administration about the issue, according to Reuters. The plaintiffs are asking for an automatic shut-off and damages from the companies. These concerns have come up before, though. Toyota previously faced a lawsuit over a carbon monoxide death after a woman accidentally left her Lexus running. Also earlier this year, GM recalled 64,186 examples of the 2011-2013 Chevrolet Volt because owners weren't shutting them off. The problem resulted in two injuries, and the company released a software update to limit the idling time.