#Nissan

Romance was not in the air when Japanese officials attempted to spark a merger between troubled automaker Nissan and its far healthier rival, Honda, a report in the Financial Times claims.

According to three sources, the effort to bring both automakers to the table — a high-level decision apparently originating in the Japanese Prime Minister’s office — went nowhere. Can anyone imagine a reason why Honda would turn up its nose at such an idea?

The saga of the Nissan Titan will come to an end in Canada next year, with the recently refreshed full-size pickup and its tweener XD sibling leaving that market after 2021 as the automaker changes course on a global scale.

Nissan Canada confirmed the discontinuation to TTAC on Thursday, claiming the automaker, as part of its new four-year plan, will focus more closely on its core strengths. Refreshed for 2020, the Titan line has recently seen a decline in the number of build configurations offered, as well as vehicles sold, making the model’s vanishing act a seeming inevitability.

Advanced driving aids have been slighted once again. This time, the Center for Auto Safety is asking Nissan to issue a safety recall on several models it believes have received too many customer complaints about their automatic emergency braking systems.

It also claims the manufacturer is already aware of the situation, after filing an public-information requests that showed Nissan being in possession of more than 1,400 complaints and field reports alleging the systems are activating when they shouldn’t. The company is also on the receiving end of some lawsuits over the matter.

We’d hate to harp on Nissan more than necessary. The manufacturer already has a laundry list of problems it’s hoping to solve, and there’s clear evidence that advanced driving aids are acting goofy across the board — especially as they become more commonplace. Last week, we reported on another AAA assessment encompassing multiple brands that once again showed just how reliable these electronic nannies aren’t.

Nissan’s future will not see it become everything to everyone, and certainly not in all markets. The 2010s, and the market share-chasing, globe-straddling expansionism that characterized that decade’s car-buying orgy, are violently over.

Also soon to be over, apparently, is the Nissan Maxima’s gasoline-powered powertrain.

Already in the midst of a comprehensive restructuring plan with partners Nissan and Mitsubishi, Renault announced a staggering 7.29 billion euro ($8.6 billion) loss on Thursday. That tally encapsulates the first half of the year and marks a new record for the brand, even if it’s not the kind one normally celebrates.

“Although the situation is unprecedented, it is not final. Together with all of the Group’s management teams and employees, we are fully dedicated to correcting the situation through a strict discipline that will go beyond reducing our fixed costs,” new CEO Luca de Meo said in response to the dismal financial report. “Preparing for the future also means building our development strategy, and we are actively working on this. I have every confidence in the Group’s ability to recover.”

Based on Mitsubishi’s bleak assessment of its own future, you might have thought it would be the automaker winning this week’s award for saddest economic forecast. But Nissan refused to be outdone. Having already warned the world that 2020 would prove harrowing even before anyone heard the term “COVID-19,” the brand now predicts an operating loss of 470 billion yen ($4.5 billion USD).

Nissan likewise estimates total revenue declining by one-fifth through year’s end to 7.8 trillion yen ($74.1 billion) as its worldwide vehicle sales continue a longstanding retreat.

While it’s difficult to know what to peg these losses on, there are a few obvious suspects. Both automakers sacrificed their identities as automakers in order to spend years trying to expand globally, with a particular focus on developing countries and bland models assumed to have mainstream appeal. Nissan even re-launched the Datsun name as an affordable alternative in places like India, but it wasn’t the sales success the company envisioned.

As the saying goes, the family that orchestrates the clandestine escape of an accused auto executive together, stays together. It seems that, on both sides of the operation to spirit arrested auto titan Carlos Ghosn out of Japan, were father-and-son teams.

In the U.S., arrangements for aircraft rentals and musical instrument boxes were handled by a former U.S. Army Special Forces member and his son, with funding provided by Ghosn himself, and about half a million dollars’ worth of cryptocurrency offered up by Ghosn’s son, U.S. prosecutors claim.

Shortly after his high-flying escape from Japanese semi-captivity in late 2018, former Renault-Nissan Alliance boss Carlos Ghosn got catty, marveling at what became of those two automakers after they dropped him from the phone directory.

Despite the coronavirus pandemic sinking profits and sales across the globe, Ghosn is pretty sure he knows what’s really to blame for Nissan’s current misfortunes.

Nissan’s all-important turnaround has been complicated immensely by the coronavirus pandemic. Supply chains fell into in shambles as countless factories temporarily closed as a countermeasure, harming profits as demand came to a screeching halt. Now there’s a looming recession that many economists fear may surpass the Great Depression — though this was a concern years before the COVID response hit the accelerator, thanks to growing debt and the way finance has been allowed to operate for decades.

Seeing the writing on the wall, many automakers have tamped down expectations for 2020. Being in the peculiar position of restructuring before the pandemic hit — which isn’t all that unique within the industry, truth be told — Nissan is reportedly plotting a 30 percent year-on-year cut in global production.

Don’t have a compact EV crossover in the works? Are you even an automaker?

Keeping up with the industry Joneses is a longstanding tradition among automakers, and Nissan, despite its troubles, isn’t throwing in the towel when it comes to cutting-edge competition. After revealing a concept CUV last year that promised gas-free driving and a healthy driving range, Nissan unveiled the production vehicle last night.

It doesn’t differ much from the concept.

As Nissan flings an old truck with a shiny new powertrain at midsize truck buyers, a top-down replacement waits in the wings.

To say a successor for the Frontier has been a long time coming would be the ultimate understatement. The current body has soldiered on since late 2004, when the second-generation truck appeared as a 2005 model. You author has gone through six cars since that long-ago year.

But the wait’s nearly over. And there’s even something to look at.

Nissan CEO Makoto Uchida attempted to smooth things over with investors last week by going over his company’s new recovery plan in great detail. As you undoubtedly know by now, the automaker found itself in a less than blissful situation following an ugly internal power struggle that highlighted corporate corruption and a business strategy that seemed like a liability without ideal economic circumstances and the man who penned it running the show.

With its share price already suppressed by worsening sales performance and assumed “management issues” with alliance partner Renault, the internal scandal kicked off by the arrest of former chairman Carlos Ghosn November 2018 is what really sent Nissan’s stock into a tailspin. Shares have lost more than half their value since the incident.

This placed Uchida in the undesirable position of having to explain what went wrong and how to fix it. In the past, Uchida said he’d happily be fired if he can’t turn things around, though that’s usually what happens to CEOs who can’t deliver (or need to be scapegoated and sacrificed on the alter of commerce by their board). Based on comments made at the company’s most recent shareholder meeting, Uchida seems to understand how things work.

“I said, ‘If Nissan’s performance does not improve, please fire me. Please dismiss me,’ ” he reminded the crowd on June 29th. “That’s what I said. And this policy remains unchanged.”

I’m your man, Nissan CEO Makoto Uchida told shareholders at an annual meeting Monday, promising to take a pay cut while firming up the fiscal foundations of an automaker that was floundering even before the pandemic hit.

Nissan rolled out a very different kind of four-year plan in late May. Cost-cutting and consolidation is the name of the game going forward, but shareholders often want more assurance than a blueprint can provide.

Nissan’s under the gun, and some near the top of the company reportedly like what they see in the company’s chief operating officer, Ashwani Gupta. So much so, that they’re pushing for a change in roles.

They’d like to see the architect of the brand’s four-year turnaround plan, released last month, don the same hat as CEO Makoto Uchida.

Carlos Ghosn’s claim that he was the target of an industrial coup is looking a lot more valid this week after emails surfaced showing a high degree of internal organization regarding his ousting and subsequent criminal charges. The former head of the Renault-Nissan-Mitsubishi Alliance was infamous for wanting further integration within the pact. In fact, his aim was to make sure the tie-up became “irreversible.”

That idea never quite landed for Nissan leadership and Japanese shareholders, with many already holding the view that the alliance had already given French interests too much authority.

Emails dating back nearly one year before Ghosn’s November 2018 arrest clearly indicate top-level management at Nissan had a strong aversion to deepening ties with Renault. While understandable to a large degree, it’s counter to the claim that his removal was strictly about under-reported income and other financial malfeasance that were of particular interest to Tokyo prosecutors. At the very least, some actors at Nissan wanted to make sure the alliance patriarch suffered a massive loss of face while confronting allegations.