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Renault to alert prosecutors about Carlos Ghosn's wedding costs

PARIS — Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out. An internal probe established that a 2016 sponsorship deal with the Chateau de Versailles included a 50,000 euro ($57,000) personal benefit to Ghosn, the carmaker said on Thursday, confirming a report in Le Figaro. The carmaker replaced Ghosn on Jan. 24, more than two months after his arrest in Japan over allegations of financial misconduct uncovered by Renault's Japanese affiliate Nissan, which he also chaired. Renault began its own examination of payments to Ghosn within days of his detention but had not flagged any irregularities until now. Renault has discovered that "Mr Ghosn was accorded a personal benefit valued at 50,000 euros under the terms of a sponsorship contract with the Chateau de Versailles," the company said in a statement on Thursday. "Renault has decided to bring these findings to the attention of the judicial authorities." The office of Ghosn's Japanese lawyer Motonari Otsuru did not immediately respond to a request for comment. Ghosn remains in detention in Tokyo with limited opportunity to respond publicly to allegations against him. Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters. Le Figaro reported that the chateau allowed Ghosn to host his wedding reception on its grounds in exchange for Renault's donations to the Versailles estate, resplendent home to France's last kings. The rental fee was deducted from Renault's credit for use of the Grand Trianon at Versailles on Oct. 8, 2016, when Ghosn and his second wife Carole hosted their wedding reception at the 17th-century palace, the source said. The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes. The Renault board was informed about the discovery on Wednesday, as reported by Le Figaro, the source added. Earnings/Financials Government/Legal Mitsubishi Nissan Renault renault-nissan

Nissan Leaf resale value expected to take a hit

Nissan Leaf resale values may take a tumble, according to Kelley Blue Book. The vehicle evaluation resource said the 2013 Nissan Leaf will retain around 35 percent of its MSRP after three years; that's down five percent from what KBB gave the 2012 Leaf at the end of 2011. Automotive News reports KBB adjusted the EV's residual value prediction because the used transaction prices for the 2011 model have stuck around 35 percent for the past few months due to relatively cheap gasoline, not to mention the fact that Nissan trimmed the electric's MSRP from $36,050 to $29,650 before the $7,500 tax credit.
Since used buyers are often motivated by more practical buying concerns than early adopters or those wanting to curb their carbon emissions, they may not be willing to pay more for an EV. Meanwhile, early Leaf models are now coming to auction, abandoned by rental car companies after customers shunned them in favor of traditional internal-combustion vehicles. Many of those at auction have less than 10,000 miles and carry an average transaction price of just $13,700.

Feds Probe Nissan Cars For Unintended Acceleration

DETROIT (AP) - The U.S. government's road safety agency is investigating complaints that a trim panel can cause unwanted acceleration in Nissan Versa small cars. The probe covers about 360,000 Nissan Versa and Versa Note subcompacts from the 2012 through 2014 model years. The National Highway Traffic Safety Administration says in documents posted Saturday on its website that four drivers have complained that a trim panel near the gas pedal can trap the edge of a driver's shoe. This can stop the driver from releasing the gas pedal quickly and delay braking. There are no reports of crashes or injuries, although one driver complained of a close call at an intersection on June 9. As the driver accelerated to make a left turn, a plastic trim panel that covers the center console trapped the driver's shoe and stopped it from moving off the gas pedal, the complaint said. "I used my right hand to grab my leg and pulled harder, immediately braking hard, then backing my foot off the brake as I squealed and skidded around the corner, almost going over the curb and crashing," the driver wrote. The driver reported that the edge of the trim piece wasn't secured and trapped the sole of a leather work boot. Drivers who file complaints are not identified by NHTSA. Two of the four complaints were from drivers of rental cars, the agency said. A fifth complaint was filed in an unidentified foreign country, according to NHTSA. Investigations can lead to recalls but so far there are none in this case. Messages were left seeking comment Saturday from a Nissan spokesman. Related Gallery AOL Autos Test Drive: 2014 Nissan Versa Note Recalls Nissan unintended acceleration nissan versa nissan versa note