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Renault shares hit six-year low on rumors of Nissan split

LONDON — Renault shares hit six-year lows on Monday after a media report that Nissan has accelerated secret contingency planning for a potential split from the French carmaker, the latest sign that the downfall of former boss Carlos Ghosn is roiling the 20-year alliance. At 1027 GMT, the shares were down 3.7%, languishing at the bottom of Paris' CAC 40 and the pan European STOXX 600 index. The plans include war-gaming a total split in engineering and manufacturing, as well as changes to Nissan's board, the Financial Times newspaper reported on Sunday citing several sources. Nissan's contingency planning has ramped up since the dramatic escape of Ghosn, the former head of the Renault-Nissan  alliance, from Japan in late December, it said. The tie-up has been in management turmoil since Ghosn's arrest in Tokyo in November 2018 on allegations of financial misconduct, which he denies. He was awaiting trial in Japan when he fled to Lebanon. "We firmly believe the relationship between (Renault and Nissan) and hence the Alliance is broken and is likely beyond the point of repair," Evercore ISI analysts Arndt Elinghorst and Chris McNally wrote in a note on Monday. They have an 'underperform' rating on the French car company. Renault was not available for immediate comment. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Mitsubishi Nissan Renault

Nissan's Taxi of Tomorrow shut down by NYC courts [UPDATE]

Justice Schlomo Hagler may have just put a big dent in Nissan's plans to rule New York City's taxi fleets and outgoing Mayor Mike Bloomberg's vision of a unified fleet of yellow cabs.
As an October 28 deadline approached that would see all current, non-hybrid taxis replaced over by the Nissan NV200 over a three-to-five-year span, the legal battle that's enveloped the Taxi of Tomorrow program from the start has intensified. In a lawsuit, the Greater New York Taxi Association claims New York's Taxi and Limousine Commission overstepped its powers in mandating that taxi fleets are refitted with the NV200, according to the New York Daily News. This isn't the first time the courts have sided with the cabbies in the ToT debate.
Justice Hagler agreed with the cabbies, striking down the Taxi of Tomorrow purchasing requirements, and saying, "Simply stated, the power to contract and compel medallion owners to purchase the Nissan NV200 from Nissan for ten years does not exist in the City Charter," according to The Wall Street Journal.

Who knew a 1,200-hp GT-R could be so lovely?

The proliferation of 4K cameras and displays is bringing the world some utterly fantastic automotive videos. If you like seeing Jeff Zwart powering up the Pikes Peak course in high-def glory but wish for some hugely powered Nissan GT-Rs in place of the turbocharged Porsche, then this clip shouldn't be missed. Japanese magazine Motorhead brought together a 1,200-horsepower, HKS-tuned R35 GT1000 and an earlier R32 GT-R Group A racer to send them through a tight, mountain road. The clip uses an augmented reality aesthetic to place little pieces of info about the car, driver, and emotions over the scenes, while the coupes are blasting through the forest. The real highlight here is the cinematography and sound. Turn up your speakers to get an earful of the GT-R's gasoline-fueled heart. The cameras mounted on driver Nobuteru Taniguchi turn the world outside the car into an impressionistic blur of green as the trees smear together at such high speeds. The combination of sight and sound offers a fantastic sense of speed. The only, tiny problem with this clip is that the preamble before the coupes thunder off is just a bit too long. If you need an extra minute in your day, skip straight to 1:15 to get immediately to the action. Although, missing the beginning means not seeing an inky black GT-R driving through the Japanese night. According to Speedhunters, the video is meant to promote the theme for Motorhead's latest issue – Japan Tuned. The magazine apparently comes even more video of the two cars playing on the mountain.