Ghosn to Step Down As Renault CEO Before End of Term

It appears as if Carlos Ghosn will step down as chief executive of Renault prior to the end of his term. While he’ll likely continue serving as chairman of Renault and CEO and chairman of the Renault-Nissan-Mitsubishi Alliance, he’s planning to lighten his load with the French automaker.

Despite having renewed his contract with Renault, which runs until 2022, the 64-year-old executive previously said he’s wearing too many hats. Ghosn stated at the time that he hoped to scale back his workload before retiring. Apparently, the next step in that process involves ditching his day-to-day duties as a chief executive.

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Take a Little Off the Top Come Bonus Time, Mller Tells Volkswagen Management

Volkswagen CEO Matthias Müller is expected to cave to shareholder and labor pressure today and ask that his management board agree to trim their bonuses by 30 percent, insider sources have told Reuters.

Will it satisfy dealers and vehicle owners stuck with depreciated rolling stock? Not. Bloody. Likely.

The request, if it comes to pass, comes after workers unions and the state of Lower Saxony (Volkswagen’s home and its second-largest shareholder) protested the idea of senior management receiving full compensation while the diesel emissions scandal continues to rage.

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Please, Ladies, No Haggling

No-haggle pricing! It’s kind of the zombie of the auto industry. How, you ask? Well:

  • Touching it makes your dealership sick
  • It periodically comes back from the dead
  • The nerd/geek crowd loves to talk about it
  • It doesn’t actually exist

It’s also typically something that’s embraced by losers, whether the “loser” in question is a troubled dealership trying to remake its image after a complete decapitation of the leadership/ownership, a troubled brand trying to differentiate itself ( Scion), or a troubled automaker clutching at straws in the face of overwhelming competition (General Motors, with Saturn). But Lexus, the latest brand to give it a shot, doesn’t know the meaning of the word “loser”. Its lineup is bulletproof, both in terms of durability and customer perception. Its dealers are obscenely profitable and generally immune to the worst of the customer-abuse excesses for which mainline Toyota stores are justifiably famous.

So why jump on a strategy that has never, ever worked for any brand that doesn’t own the majority of its retail outlets? Perhaps the answer has something to do with Ellen Pao.

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  • Daniel J Alabama is a right to work state so I'd be interested in how this plays out. If a plant in Alabama unionized, there are many workers who's still oppose joining and can work.
  • ToolGuy This guest was pretty interesting.
  • NJRide So this is an average age of car to be junked now and of course this is a lower end (and now semi-orphaned) product. But street examples seem to still be worth 2500? So are cars getting junked only coming in because of a traumatic repair? If not it seems a lot of cars being junked that would still possibly worth more than scrap.Also Murilee I remember your Taurus article way back what is the king of the junkyard in 2024?
  • AMcA I applaud Toyota for getting away from the TRD performance name. TuRD. This is another great example of "if they'd just thought to preview the name with a 13 year old boy."
  • Jeff Does this really surprise anyone? How about the shoes and the clothes you wear. Anything you can think of that is either directly made in China or has components made in China likely has some slave labor involved. The very smart phone, tablet, and laptop you are using probably has some component in it that is either mined or made by slave labor. Not endorsing slave labor just trying to be real.