Nissan Motor reported a 70% fall in quarterly profit on Tuesday and slashed its full-year forecast to an 11-year low, affected by a strong yen and falling sales, and highlighting the turmoil at the Japanese automaker after the ejection of Carlos Ghosn. The recent weak showing from Nissan, which also cut its interim dividend by […]
Nissan
Ghosn rejects report of inappropriate use of Nissan money
Former Nissan Motor CEO Carlos Ghosn rejected any impropriety over payments he made during his reign at the automaker, after a newspaper report that Japanese tax authorities determined he used company funds for private use. “Mr. Ghosn categorically rejects that there was anything improper about the payments or donations at issue, all of which were […]
Ghosn used Nissan money for private use says Japan tax agency
Japan’s tax authorities have found former Nissan Motor CEO Carlos Ghosn used company funds for private use, bolstering the automaker’s case that he diverted corporate funds for personal benefit, the Yomiuri reported on Tuesday. The Japanese newspaper, without mentioning sources, stated the National Tax Agency found Ghosn used Nissan money for several years to pay […]
Nissan is considering sale of European plants
Nissan Motor is thinking about selling two of its European plants as the Japanese automaker experiences falling sales in the region and an industry shift toward electric cars, according to a report by Bloomberg on Thursday. The automaker is now reaching out to possible buyers for its factories in the UK and Spain, the report […]
Ghosn’s lawyers seek dismissal of charges, allege prosecutors of misconduct
Carlos Ghosn’s lawyers have asked the Tokyo District Court to drop all charges against the former Nissan Motor chairman, stating prosecutors colluded with government officials and Nissan executives to remove him from his post. Ghosn’s legal team in a press release stated they had filed two court filings ahead of a planned pre-trial meeting the […]
Nissan to hire Uchida as next CEO, Gupta as COO
Nissan Motor named the head of its Chinese business as its next CEO on Tuesday, selecting an executive known for close relations to top shareholder Renault. By picking Senior Vice President Makoto Uchida, Nissan’s board has gone with someone slightly at odds with its standard corporate culture. He joined the automaker mid-career in 2003, a […]
Nissan expected to cut 12,500 jobs worldwide
Japanese automobile mammoths, Nissan have announced that they will cut 12,500 jobs worldwide after profits dropped to almost zero. Nissan, Japan’s second largest automobile manufacturers released this statement on Thursday. They announced that their profits were almost worn to frazzle. The made the announcement on Thursday after their operating profits dropped by 99% in the […]
Status quo at Renault-Nissan must be changed, says Le Maire
The current status quo about the alliance between French automaker Renault and its Japanese partner Nissan cannot carry on and must be modified as it is presently weakening Renault, stated French finance minister Bruno Le Maire. “The status quo is not possible, the status quo is weakening the overall group, we have to push forward, […]
Nissan Motor retains Saikawa as CEO
Nissan Motor stated Friday that Hiroto Saikawa would remain as chief executive, backing the protege of former chairman Carlos Ghosn even as top shareholder Renault had previously pushed for a modification in the Japanese automaker’s leadership. Saikawa’s re-appointment is likely to be observed as a rebuff to Renault SA, which has pushed for leadership modifications […]
Nissan projects the weakest profit in a decade
Nissan Motor attempting to rebuild its deteriorated reputation over failed corporate governance after the criminal investigation of two former executives, slash its operating profit outlook by a sharp 28 percent for fiscal 2019 to its lowest in a decade. At a news conference Tuesday at Nissan’s headquarters in Yokohama, CEO Hiroto Saikawa stated operating profit […]
Nissan revenues slide fuels Renault deal pressure
Renault is slowly pushing for a change of Nissan leadership as a beginning to merger talks, sources at both companies stated, after the Japanese automaker warned of additional slide in earnings following the Carlos Ghosn scandal. Jean-Dominique Senard, who took the place of Ghosn as Renault chairman in January, sees Nissan boss Hiroto Saikawa as […]
5 Most Common Repairs for Nissan Altimas
Nissan Altimas are generally great cars. Since their first release in 1992, Altimas have been consistent in providing sporty handling and stylish looks while remaining affordable. While Altimas tend to be reliable, they sometimes have problems, just like any other car. Here are some common repairs for Nissan Altimas. 1. Power Steering Noises The newest […]
Renault to propose joint holding company with Nissan
Renault is going to propose a plan to form a joint holding company that would provide the French automaker and Japanese partner Nissan equal footing, a person with knowledge of the issue informed Reuters. Under the proposal, both companies would nominate an equal number of directors to the new company, that would be led by […]
Ghosn leaves Tokyo jail, agrees to limit contact with his wife
Former Nissan boss Carlos Ghosn walked out of a Japanese jail for a second time late on Thursday, on $4.5 million bail after accepting to limit contact with his wife as he awaits trial on financial misconduct charges. After a Tokyo court declined an appeal by prosecutors against his release, Ghosn left the Tokyo detention […]
Japanese court rejects prosecutors’ appeal against Ghosn’s bail
Former Nissan Motor boss Carlos Ghosn was set to leave a Japanese jail after the Tokyo District Court on Thursday declined a prosecutors’ appeal against its decision to permit his release on bail, Kyodo News and public broadcaster NHK reported. The court previously approved Ghosn’s release on bail of 500 million yen ($4.5 million). Ghosn […]
