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Nissan slashes profit forecast as Ghosn arrest hurts brand appeal

TOKYO — Nissan cut its profit forecast for the fiscal year through March on Wednesday to reflect slowing sales, higher costs and the fallout from a criminal investigation of its former chairman, Carlos Ghosn. Nissan Motor Co. expects to post a 319 billion yen ($2.9 billion) profit for the fiscal year, marking a 22% drop from its earlier 410 billion yen ($3.7 billion) forecast. Nissan said the downgrade reflects higher costs in the U.S. from a warranty extension campaign for some vehicles and falling sales due to "corporate issues," alluding to the Ghosn scandal. Ghosn was arrested in November and is facing charges of underreporting his income and breach of trust. He says he is innocent. He was released on bail in March and is awaiting another court decision on bail after his re-arrest on April 4. Nissan, which is allied with Renault SA of France, has seen sales lag in France and Japan, where Ghosn is widely known. In the U.S. and China, buyers aren't as affected by the scandal, but the markets there overall have slowed. Other factors contributed to the revision, such as production not keeping up with demand for the Note, an extremely popular model in Japan. But the high-profile scandal has weakened the brand appeal of the maker of the Leaf electric car, Infiniti luxury model and X-trail sports utility vehicle. Nissan said it expects to sell 5.5 million vehicles in this fiscal year. Earlier it predicted it would sell 5.6 million. The company sold nearly 5.8 million vehicles in the fiscal year that ended in March 2018. The automaker reduced its sales outlook by 0.2% for the fiscal year through March 2019 to 11.5 trillion yen ($103 billion), compared to its previous forecast. It was Nissan's second downgrade for its outlook following one in February that cited faltering sales in China and the U.S. At that time, Nissan also logged costs about 9.2 billion yen ($83 million) related to the alleged underreporting of Ghosn's compensation. Nissan has promised to strengthen its corporate governance to prevent a recurrence of what it says is serious wrongdoing by Ghosn. Ghosn was sent by Nissan's French alliance partner, Renault SA, to help turn the Japanese automaker around when it was near bankruptcy 20 years ago. The future of the alliance is one of many questions clouding Nissan's future following Ghosn's ouster since he was the main liaison for the alliance, which includes smaller Japanese automaker Mitsubishi Motors.

Nissan announces 5-year/100,000-mile bumper-to-bumper warranty for commercial vehicles

Nissan is a relative new-kid when it comes to the commercial van market in the US, with its commercial vehicles division only introducing the first NV vans in February 2011. But Nissan isn't letting its newcomer status keep it from challenging the established players in the segment. The company's latest shot over competitors' bows is announcing that, starting for the 2014 model year, its NV Cargo, NV Passenger and NV200 Compact Cargo vans carry a best-in-class, five-year/100,000-mile bumper-to-bumper warranty. Their powertrain coverage also gets a 40,000-mile increase to five years/100,000 miles.
The new warranty is a huge leap over adversaries in the segment and should lure in some buyers looking for a longer term of coverage. The Mercedes-Benz Sprinter, Ram ProMaster, Ford Transit and Transit Connect all carry a three-year/36,000-mile bumper-to-bumper warranty. The Fords offer five years and 60,000 miles of powertrain coverage, while all of the others increase that to 100,000 miles. Until this announcement, Nissan had the standard thee years of coverage, as well.
The Japanese automaker is clearly hungry to grab a bigger piece of the commercial van pie. Its heavy-duty NV vans have a relatively small 5.3 percent market share in their segment as of May 2014, according to the company's figures, but the NV200 is doing better with a 19.4 percent share. The division as a whole is on the upswing, though, with sales up 88 percent so far in 2014. With just a few years under its belt, Nissan Commercial Vehicles seems unafraid to challenge the status quo in the segment. Let's see how buyers respond. Scroll down to read the full announcement about the new warranty.

Nissan tests 'self-cleaning' paint on Leaf models in Europe

Once upon a time, self-cleaning ovens were all the rage. Now, Nissan thinks the concept may apply to its vehicles. And the Japanese vehicle maker is testing it out on some of its Leaf battery-electric vehicles Europe, no less. Nissan says its trying out what's called a "superhydrophobic and oleophobic" paint on Leaf battery-electric vehicles for testing and demonstration purposes. The paint, produced by UltraTech International Inc., is designed to repel splats of liquid such as oil or standing water away from the car's surface. The paint, called Ultra-Ever Dry, does this by creating what Nissan says is a layer of air around the vehicle surface. We imagine there's a detailed chemical explanation for this phenomenon that would better explain this process, but that's the best way we can explain it. Right now, Nissan is pitching the product testing as a way to further the Leaf's reputation as what the automaker calls "the world's cleanest car." That said, the paint hasn't been tested in North America, and no plans have been made to add the feature as either a standard or optional goodie for the battery-electric vehicle. Still, go ahead and check out Nissan's press release on the magic paint below. Nissan Creates "World's Cleanest Car" – a Zero Emissions Nissan LEAF with Self-Cleaning Nano-Paint Technology For LEAF owners who never qualify for gas stations' "Free Car Wash with Purchase" offers, this technical study might be the perfect solution July 09, 2014 10:00 AM Eastern Daylight Time NASHVILLE, Tenn.--(BUSINESS WIRE)--What do you get when you combine the world's best-selling zero emission vehicle with innovative paint technology that repels mud, rain and everyday dirt? Answer: A very special Nissan LEAF electric vehicle that might just be the "world's cleanest car." "No matter what the road throws at this LEAF, its Ultra-Ever Dry® exterior coating will throw right back" Created to demonstrate its potential use in future production vehicles, this Nissan LEAF's exterior was treated with a specially engineered superhydrophobic and oleophobic paint that is designed to repel water and oils. The "self-cleaning" paint, called Ultra-Ever Dry®, creates a protective layer of air between the paint and environment, effectively stopping standing water and road spray from creating dirty marks on the LEAF's surface. Nissan is one of the first carmakers to apply this technology to a vehicle.