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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 poised to nearly double exports from US by 2015 [w/video]

As a part of a plan to double its US export volume by 2015, Nissan started shipping 2014 Pathfinder SUVs from its plant in Smyrna, TN to Australia and New Zealand. These Pathfinders are not only the first right-hand-drive models Nissan has exported from the US, but their 10,000-mile journey through the Gulf of Mexico and across the Pacific is also the automaker's furthest export.
Products from the Smyrna plant are exported to 61 different countries, and Nissan's export volume from the US will account for around 14 percent of its production this year, which is two percent more than 2012. Helping all this is the fact that by early next year, Nissan's production in North and South America will top two million units thanks to added capacity in the US and new plants in Mexico and Brazil. An official video made to look like a news feature joins the press release from Nissan posted below.

Nissan already planning for EV sales once incentives run out

The way Nissan looks at it, no good deed goes unpunished. The Japanese automaker will likely be the first to see federal incentives for its electric vehicles disappear. And the company may already be trying to work out some wiggle room with the powers that be. The issue is that the Nissan Leaf is the most popular electric-vehicle in the US, moving more than 77,000 vehicles since the model's late-2010 debut. Sales have likely been helped by the $7,500 federal tax credit for EVs (along with additional state incentives), but that perk starts to disappear for Nissan once the automaker has sold a cumulative 200,000 EVs. Even though that's likely a few years off, Nissan North America executive Pierre Loing told Wards Auto that the company is talking with the feds to see if there is "room for negotiations." In the meantime, Nissan is trying to further cut battery-production costs in order to both reduce the price on the Leaf and lengthen its single-charge range. Nissan notably shaved $6,400 off of the Leaf's sticker price in early 2013, and that seems to have worked wonders. Leaf sales more than doubled that year to 22,610 units and jumped another 34 percent last year to 30,200 units. Featured Gallery 2013 Nissan Leaf View 13 Photos News Source: Wards Auto Government/Legal Green Nissan Electric legislation