2014 Nissan Sentra S on 2040-cars

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Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologized and vowed to return any improperly paid money as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era." "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

Nissan IDX sports coupe future increasingly cloudy [w/poll]

There's a strong desire among enthusiasts for more inexpensive, lightweight, fun-to-drive, rear-wheel-drive cars to exist in a world that contrasts sharply with automakers' desire to make money. While we all love the feeling of controlling the back end with the throttle, front-wheel drive is king when it comes to affordable cars. One of the future bright spots in the rear-drive market appeared to come from Nissan with its pair of IDx concepts. The two showcars from the 2013 Tokyo Motor Show took liberal design inspiration from the classic Datsun 510 and mixed it with modern powertrains in very attractive little packages. However, some pretty dark clouds are reportedly now hanging over the project.
Last we heard, a production version was supposedly "in the plan" from the Japanese automaker, but its trajectory may have changed inside the company in the last few months. According to Pierre Loing, vice president of product planning for Nissan Americas, the issue is making the sports coupe profitable. While Nissan has access to rear-wheel drive platforms, they are all meant for more premium vehicles (read: they cost too much). Assuming around 60,000 annual sales, Loing tells Ward's Auto that making a dedicated chassis for the IDx just isn't a moneymaker. If the car still does see production, it'll be after 2016, he says.
The decision whether to build the IDx has been teetering for a while. Nissan spokesperson Dan Bedore previously told Autoblog that the coupe would need a groundswell of support from consumers and enthusiasts if is to actually have a shot at production. If you are among the hopeful looking to see this affordable, rear-drive performance car in showrooms, get some friends together and start letting Nissan know that you actually want it - you can start here by adding a Comment and voting in our poll, because we're going to send the results on to Nissan.

Modified Trabant takes on Nissan GT-R in 1/4-mile battle

The little yellow guy in the right lane above with the "Flitzer" license plate looks like a Trabant 601 wagon and it's called a Trabant, but it's got little to do with the impoverished East German runabout that did its part to drive Communist ideals further into the ground. You'd almost be forgiven for not knowing there's a turbocharged 3.0-liter engine up front, until you have look at that rear track... and the wheelie bars in back.
So with a power-to-weight ratio akin to an LS9-powered scooter, it's no surprise that the Trabbi puts a pasting on a slightly tuned, 580-horsepower Nissan GT-R - we don't know what happened with Godzilla's shifting, but it was all over from the hole shot. It's still fun to watch, though, and you can do that in the video below.