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For next Nissan CEO, priority is profit before Renault partnership

The next head of Nissan Motor Co will need to prioritize a recovery in profits at the troubled Japanese firm ahead of trying to fix its relationship with top shareholder Renault SA, executives and analysts say. Reviving earnings would strengthen the carmaker’s hand in negotiations with its French partner, and is something Renault itself would welcome as the owner of a 43.4% stake in Nissan. JapanÂ’s second-largest automaker said on Monday CEO Hiroto Saikawa would step down on Sept. 16 after he admitted to being overpaid in breach of company rules. ItÂ’s another heavy blow for Nissan, which is already reeling from the arrest of former chairman Carlos Ghosn last year and a subsequent plunge in earnings. Its stock is down 20% this year. For SaikawaÂ’s yet-to-be-named replacement, the top priority will be lifting profits from a more than decade low. Earnings have been undercut by years of heavy discounts and low-margin sales to rental firms that have cheapened NissanÂ’s brand image. Renault, which has unsuccessfully sought a full-blown merger with its larger partner, is likely to give the Japanese firm time to focus on its turnaround, a Nissan executive said. “It goes without saying recovery is the biggest priority,” the executive said, declining to be identified because the information is not public. “We have RenaultÂ’s understanding on that.” Tensions in the Nissan-Renault partnership worsened after GhosnÂ’s arrest. He is awaiting trial in Tokyo on financial misconduct charges that he denies. The strain has sparked investor concern about the future of the Franco-Japanese automaking alliance at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. Nissan executives have long complained about their unequal partnership with Renault, which saved the Japanese firm from bankruptcy in 1999. Nissan holds a 15% stake in Renault, but without voting rights. Tokyo is also seen as being uneasy about the French governmentÂ’s 15% holding in Renault, which makes Paris an indirect shareholder in Nissan. “Profitability is likely to remain under pressure and it (Nissan) is unlikely to promptly reach an agreement with Renault over the future shape of the alliance,” analysts at Standard & PoorÂ’s said in a note. Tensions worsened when Renault tried to in vain to merge with Nissan and then Fiat Chrysler.

Nissan NV200 taxi goes on sale in NYC while mandate still being figured out

Cab drivers in New York City may not be mandated to purchase the Nissan NV200 "Taxi of Tomorrow" per the orders of a Supreme Court Judge, but that isn't stopping Nissan from beginning sales of the bright yellow people movers.
Speaking to Automotive News, Howard Koeppel, a Queens-based dealer said, "We just got them about three days ago, and we've sold five to individual operators. They're good cars." A fully loaded example of the Mexican-built taxi is priced at $29,700, and are due to officially begin service on October 28.
The NV is meant to be the go-to vehicle for NYC cabbies, mandated by the Taxi and Limousine Commission, although the process of switching over the city's 15,000 cabs has been ensnarled by legal proceedings virtually since the word "go."

Nissan Leaf Nismo RC Concept [w/video]

Nissan took the wraps off its Leaf Nismo RC Concept at the New York Auto Show more than two years ago. As inferred, the vehicle shares many of its pure-EV components with the production Leaf currently sitting in your dealer's showroom. But don't assume the concept is a placid, family friendly, four-place, front-wheel-drive plug-in for grabbing groceries - the RC (as in "Racing Challenge") is a purpose-built, two-seat, rear-wheel-drive prototype race car tuned for the short track.
The RC Concept is fitted with an 80-kW AC synchronous motor driving the rear wheels and drawing power from a 48-module lithium-ion battery. While the motor and battery are nearly identical to the consumer-friendly Leaf, a sleek full carbon-fiber monocoque body shell and a slew of other enhancements mean the RC is 40-percent lighter, a foot shorter in overall height and nearly seven inches wider than its commuter namesake. Nissan says the RC Concept will hit 62 miles per hour in about 6.8 seconds, top out at 93 mph and run for about 20 minutes under race conditions (it will accept an 80-percent charge in 30 minutes with a quick-charger). Understandably, if a zero-emissions motorsport series comes to fruition, the races would be short and nearly silent.
We caught up with the Leaf Nismo RC concept in Southern California, where we were offered the opportunity to zip it around a tight autocross at the former Marine Corps Air Station, El Toro.