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Nissan CEO Hiroto Saikawa resigns, successor to be named

YOKOHAMA, Japan — Nissan Chief Executive Hiroto Saikawa tendered his resignation Monday after acknowledging that he had received dubious income and vowed to pass the leadership of the Japanese automaker to a new generation. Board member Yasushi Kimura told reporters at an evening news conference at company headquarters in Yokohama that the board has approved Saikawa's resignation, effective Sept. 16, and a successor will be appointed next month. A search is underway, he added. Calls for Saikawa's resignation, which arose after the arrest last year of his predecessor, Carlos Ghosn, on various financial misconduct allegations, have grown louder after Saikawa acknowledged last week that he had received dubious payments. The income was linked to the stock price of Nissan Motor Co., and he has said his pay got inflated by illicitly adjusting the date for cashing in. The automaker's board met to look into the allegations against Saikawa, as well as other issues related to Ghosn's allegations and corporate ethics at the company. Kimura said the income Saikawa had received was confirmed as "not illegal." Ghosn, who is out on bail and awaiting trial, says he's innocent. Kimura and three other board members, who all have backgrounds outside the company, said their investigation of the scandal over Ghosn's arrest found that alleged misconduct by Ghosn and Greg Kelly, a former board member who was also arrested, had caused 35 billion yen ($350 million) in damage to the company. Nissan will seek a repayment of the damages, Kimura said. The board said about 10 candidates are being considered as a replacement for Saikawa. They did not identify them, but said outsiders and non-Japanese are on the list. Until a successor is decided, Chief Operating Officer Yasuhiro Yamauchi will serve as interim chief, the board said. Saikawa has not been charged. "I have been trying to do what needs to be done so that I can pass the baton over as soon as possible," he told reporters earlier in the day, referring to his willingness to leave his job. Saikawa did not appear at the news conference initially, but the four board members who led the event said he would later. Saikawa has said he didn't know about the improprieties, promised to return the money and blamed the system he said Ghosn had created at Nissan for the dubious payments. Japanese media reports said Saikawa had received tens of millions of yen (hundreds of thousands of dollars) in extra compensation.

2021 Infiniti QX80 gets simultaneously more and less expensive

Infiniti has released pricing for the 2021 QX80, and the brand's range-topping SUV sails into the new model year with revisions to its trim lineup and minor equipment changes. The starting price of the QX80 rises, but the asking price for the fanciest version is lower for 2021. The entry-level QX80 is again the Luxe, and in rear-wheel-drive form, it starts at $70,445 (with $1,395 destination) or $73,545 with all-wheel drive. Both figures represent an increase of $2,300 over 2020. A new middle-level trim is the Premium Select, and it steps in for last year's Edition 30 model, featuring that version's dark-chrome exterior accents and 22-inch wheels. Prices for the QX80 Premium Select are $74,745 (RWD) and $77,845 (AWD), which are $3,100 more than last year. For those with a hankering for the very finest of QX80s, however, the news is better. In place of last year's Limited, the new range-topper is the Sensory, which includes Infiniti's Hydraulic Body Motion Control System. The Sensory is $81,595 with rear-wheel drive and $84,695 with AWD. And while that's not cheap, it's some $8,000 less than what Infiniti was asking for the 2020 Limited. The big tech news for 2021 is the Infiniti's rear camera mirror has higher resolution and a larger viewing surface. Previously standard on the top trim, it's now included on all models. Last year saw the arrival of larger display screens in the dash and the instrument cluster. No changes are on hand in the engine room, where the QX80 continues to be motivated by Nissan's 5.6-liter V8 that makes 400 horsepower and 413 lb-ft of torque, dispatched by a 7-speed automatic transmission. The 2021 Infiniti QX80 is on sale now. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.    

These are the top luxury cars bought by people entering the segment for the first time

Let's say you just got a big promotion at work or the kids are moving out of the house, and you finally have some extra money. You decide to blow it all at once and treat yourself by upgrading your ride. Naturally, you look to a luxury automaker. What do you choose?
Models like the Audi A3 and Mercedes-Benz CLA-Class may be tailor-made to introduce buyers to the premium segment, but a new study finds that they don't garner the highest rates of non-luxury customer conquests. It turns out that a Volvo leads among folks moving up to a premium brand, and it isn't even one that's made anymore, at that.
A recent study by Polk and IHS Automotive looked at what models had the highest rates of buyers upgrading from a non-luxury segment. The information comes from its new vehicle registration data through April 2014. All ten top models boasted conquest rates of over 50 percent, but the Volvo C70 led the field with 68.01 percent of its customers coming from non-premium brands.