Certified Pre-owned Cpo Clean Title Low Miles Warranty on 2040-cars

Auto blog

Nissan names Makoto Uchida as next CEO

TOKYO — Nissan named Makoto Uchida, the head of its Chinese business, as its next CEO, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" — direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 58-year-old former theology student can deliver a miracle turnaround — particularly at Nissan's business in the United States — and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'ISN'T REALLY JAPANESE' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.

Major automakers post mixed US June sales figures

General Motors, Ford and Fiat Chrysler Automobiles NV posted declines in US new vehicle sales for June on Monday, while major Japanese automakers reported stronger figures. Once again, demand for pickup trucks and crossovers offset a decline in sedan sales. Automakers' shares rose as overall industry sales still came in above Wall Street expectations. The US auto industry is bracing for a downturn after hitting a record 17.55 million new vehicles sold in 2016. Analysts had predicted that overall, US vehicle sales would fall in June for the fourth consecutive month. As the market has shown signs of cooling, automakers have hiked discounts and loosened lending terms. Car shopping website Edmunds said on Monday the average length of a car loan reached an all-time high of 69.3 months in June. "It's financially risky, leaving borrowers exposed to being upside down on their vehicles for a large chunk of their loans," said Jessica Caldwell, Edmunds' executive director of industry analysis. GM said its sales fell about 5 percent versus June 2016, but that the industry would see stronger sales in the second half of 2017 versus the first half. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." GM shares were up 2.4 percent in morning trading, while Ford rose 3.3 percent and FCA shares jumped 6 percent. "US total sales are moderating due to an industry-wide pullback in daily rental sales, but key US economic fundamentals clearly remain positive," said GM chief economist Mustafa Mohatarem. "Under the current economic conditions, we anticipate US retail vehicle sales will remain strong for the foreseeable future." Ford said its sales for June were hit by lower fleet sales to rental agencies, businesses, and government entities, which fell 13.9 percent, while sales to consumers were flat. But it sold a record 406,464 SUVs in the first half of the year, with Explorer sales increasing 23 percent in June. And sales of the F-150 had their strongest June since 2001. On a media call, Ford executives said an initial read of automakers' sales figures indicated a seasonally adjusted annualized rate of around 17 million new vehicles for the month, which would be better than 16.6 million units analysts had predicted. FCA said June sales decreased 7 percent versus the same month a year earlier.

Nissan axing Pathfinder Hybrid from 2016 lineup

The Nissan lineup gets a little smaller for the 2016 model year, as the Pathfinder Hybrid is dropped from the range. With its debut in late 2013, the electrically assisted SUV is one of the company's more recent introductions. However, it never really caught on with the public. "The Pathfinder Hybrid is not available in the US for the 2016 model year. Our emphasis is on the 3.5-liter V6 Pathfinder that achieves a best-in-class 20-city and 27-highway fuel economy," Nissan North America product communications director Dan Bedore confirmed to Autoblog. "Nissan has no announcement on future hybrid gasoline-electric powertrain applications at this time." Nissan actually ended production of the Pathfinder Hybrid in January, and "the hybrid was never a big part of Pathfinder sales," Bedore said to Automotive News. For the price premium, the electrically assisted version that combined a supercharged 2.5-liter four-cylinder and a 20-horsepower electric motor was only rated three or four miles per gallon better in EPA combined ratings than with the V6. However, while the company doesn't outline individual sales of the two, powertrain variants, the SUV is performing well so far this year. Through June 2015, sales are up 4.9 percent with 41,938 units sold. The future for the Infiniti QX60 Hybrid, which is the Pathfinder's more luxurious sibling, doesn't look very bright either. "For the United States, while the QX60 Hybrid continues to be available at some retailers across the country, our production is currently focused on the QX60 3.5 model," Infiniti spokesperson Kyle Bazemore told Autoblog. However, the vehicle is still in production at the Smyrna, TN, factory for export to places like China and Mexico. According to Bazemore if demand happens to increase in the US, "we have the manufacturing ability to make them available." Overall, QX60 sales are also up 14 percent this year in the US.