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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.

Nissan sets 2017 sales record with help from Rogue, Titan, and Armada

Nissan Group said its U.S. sales climbed 1.9 percent in 2017 to an all-time record of more than 1.59 million vehicles sold. Free pizza in the conference rooms in Nashville, right? But a closer look shows the company mirroring overall industry trends, with plenty of declining-popularity cars but also a few aging trucks and SUVs. Taken together, Nissan's trucks, SUVs and crossovers saved the day, selling an all-time high of 765,624 total units, up 15 percent from 2016. That offset a 10.9-percent drop in sales of Nissan's cars, as volume sellers like the Altima and Versa posted steep drops. Also buoying overall results was the Infiniti division, which gained 10 percent from the previous year on the strength of models like the Q60 and QX30. Nissan's record year owes a lot to the Rogue, its compact crossover, which set an annual sales record with 403,465 vehicles, an increase of 22.3 percent. Sales of the Titan, Nissan's full-size pickup, grew an impressive 141.9 percent to 52,924 units, while the Armada, a full-size three-row SUV that was all-new for 2017, also saw a huge jump in sales (154.1 percent) to 35,667. Infiniti, meanwhile, saw overall sales climb 10.9 percent on the strength of huge gains by the Q60 Coupe, which rose 170.8 percent, and the QX30 crossover, which grew almost 524 percent. That being said, Infiniti volume is relatively low. The Q60 Coupe sold a total of 40,444 units and the QX30 14,093 for 2017, while Nissan shifted 40,172 Rogues in December alone. On the car side, the Maxima did well, gaining 7.9 percent to finish at 67,627. Volume-wise, the Sentra dominated, nudging up 1.7 percent to 218,451. But the rest of the lineup mirrored industry trends for the car segment, with steep drops for the Altima (down 17 percent), battery-electric Leaf (-19.8 percent), Versa (-19.2 percent) and Juke (-48.1 percent). Several truck, crossover and SUV models are also not faring so well. The aging Frontier pickup, last updated in 2005, fell 14.5 percent, the Pathfinder slipped by 0.8 percent, the Quest minivan plummeted 55.5 percent and the upscale Murano crossover fell by 11.8 percent. A Nissan spokesman says the Quest is no longer being built for the U.S. market starting with the 2018 model year. Meanwhile, reinforcements are coming. Nissan has said it's planning a new generation of the Frontier, its entry-level pickup, but hasn't clarified when.

2018 Infiniti QX80 Drivers' Notes Review | Big, brash and big

When it comes to body-on-frame, full-size SUVs, it seems every automaker has the same strategy. Offer one version as a more affordable, workman-like model, and another one as the plush luxury model. Ford has the Expedition and the Navigator, Toyota has the Land Cruiser and the LX 570, GM has the Tahoe and the Escalade. Over at Nissan, the pairing is the Nissan Aramada and the Infiniti QX80. We recently reviewed the Nissan version, and we just had a turn in the Infiniti. So how did the Infiniti fare against its proletarian twin? Read on to find out. Associate Editor Joel Stocksdale: So here's the thing about the Infiniti QX80: It's literally just a flashier Nissan Armada. As I sat down to write my thoughts, I took a second look at what I wrote about the Nissan-badged version, and I realized almost everything on my mind I already covered. The thing is enormous. Walking up to it, it seems like it might be an inch taller than me (5'11"). It's pretty wide, too, and the width is consistent all the way up. But it is still easy to drive with light steering and very good visibility. The 5.6-liter V8 sounds lovely and seems well-matched to the truck, and the transmission shifts smoothly and picks gears well. The real problem I see is that my feelings about the QX80's interior are nearly identical to those of the Armada. They're virtually identical, especially when comparing the higher trim Armadas. They have the same infotainment, the same buttons. There are a lot of buttons, too, scattered seemingly haphazardly and are difficult to use, especially with the very dated infotainment system. The dash design and shape of the wood are the same, and so is the steering wheel. The only things I could tell were really different were the shift knob, the gauge faces and the quilted leather seats. And Nissan offers a version of the latter on the Armada Platinum Reserve. I'm dwelling on this a bit because the Infiniti QX80 is not cheap. The four-wheel-drive one we had here in Michigan had a base price of $68,845. That's a few thousand more than the aforementioned Armada Platinum Reserve, and I don't see how the Infiniti is worth that extra money. It seems all you're getting is a flashier exterior, especially with the $2,800 22-inch wheels, and a more prestigious badge. I need more than chrome and badges to spend so much money. My recommendation is just buy an Armada.