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Renault board names Ghosn stand-ins, as tensions with Nissan increase

PARIS/TOKYO — French carmaker Renault tapped its chief operating officer and a senior board member to fill in for embattled boss Carlos Ghosn, after an investigation by alliance partner Nissan led to his arrest on suspicion of financial misconduct. Thierry Bollore, Ghosn's operational second-in-command, will become deputy chief executive, while lead independent director Philippe Lagayette assumes the function of interim chairman, Renault said after a board meeting late on Tuesday. But the board refrained from firing Ghosn while awaiting more detail on the allegations — in a decision that could also buy more time for an accelerated, permanent succession process. "Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer," Renault said in a statement. "During this period, the board will meet on a regular basis under the chairmanship of the lead independent director." Ghosn, one of the car industry's best-known leaders, was arrested on Monday after Nissan said he had engaged in years of wrongdoing, including personal use of company money and under-reported earnings. The Japanese company plans to remove him as chairman on Thursday. The French government, Renault's biggest shareholder, had begun to distance itself from Ghosn, calling for new interim leadership before the meeting, as the Japanese investigation expanded to include Renault-Nissan alliance finances. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," Finance Minister Bruno Le Maire said earlier in the day. "Renault has been weakened, which makes it all the more necessary to act quickly." Statements by Le Maire, Renault and its board all echoed French preoccupations over the future of the alliance first articulated by President Emmanuel Macron within hours of Ghosn's arrest on Monday. Following talks between Le Maire and his Japanese counterpart Hiroshige Seko on Tuesday, the ministers reaffirmed their "shared wish to maintain this winning cooperation." But in a sign that Nissan may now seek to loosen its French parent's hold on the partnership, the Japanese company informed Renault it also had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter told Reuters.

Nissan sells 3,117 Leaf EVs in May, climbs over 3,000 for first time ever

Chalk up a big win for the Nissan Leaf. In May, the world's most popular electric vehicle sold a record 3,117 units, the first time any pure electric vehicle has sold over 3,000 units in a month in the US (unless Tesla managed that feat but rolled the number into a quarterly report). This marks the 15th month in a row of record Leaf sales and the seventh where the Leaf was the top EV seller in the US. The challenge bar is set for someone to step up to compete with this all-electric wunderkind. Chevrolet did sell over 3,000 Volts once, in August 2013. The Leaf's one long-standing competitor, of a sort, is the Chevy Volt, which used to regularly outsell the Leaf but moved only 1,684 units in May. That's still an increase of 4.8 percent over 2013 but is part of a 4.5 percent decline in year-to-date Volt sales for 2014 compared to last year. The last time the Volt outsold the Leaf was October 2013. Chevrolet did sell over 3,000 Volts once, when it moved 3,351 in August 2013. Let's take another look at those 3,117 Leafs sold last month. They represent a 45.8 percent increase over May 2013, when 2,138 Leaf EVs were sold, so someone is doing something right in Japan and Tennessee. So far, Leaf sales in the US are up 36.4 percent year-to-date, to 10,389 EVs. That's just under half of the 2013 total, and it was accomplished in five months. In 2013, Nissan sold a total of 22,610 Leafs. Anyone want to hazard a guess where the total will be at the end of the year? As always, we'll have our detailed monthly sales write-up including other plug-in vehicles as well as hybrids and diesel car, up soon. For now, though, the big news is big Leaf sales. Read Nissan's press release below. Nissan Group reports May 2014 U.S. sales May 2014 May 2013 % Change Nissan Group Total sales (units) 135,934 114,457 +18.8 Nissan Division May sales 125,558 106,558 +17.8 Infiniti May sales* 10,376 7,899 +31.4 NASHVILLE, Tenn. – Nissan Group today announced total U.S. sales for May 2014 of 135,934 units, an increase of 18.8 percent over the prior year and a May record. Nissan highlights: Nissan Division set a May record at 125,558 sales in the month, an increase of 17.8 percent. This marks a monthly record for Nissan division in 14 of the last 15 months. May was the best-ever month for Nissan LEAF with 3,117 sales, an increase of 45.8 percent over the prior year. In May, LEAF passed 50,000 total U.S. sales since launch, further establishing it as the leader among electric vehicles.

2015 Nissan Micra is your cheapest new car, Canada

Canadians looking for a brand-new car on the cheap, take note. This is the 2015 Nissan Micra, and it will arrive at dealerships this spring boasting a starting price of $9,998 Canadian dollars (circa $9,100 US), well under the $11,898 asked for a 2014 Versa Sedan.
Of course, that ultra-low asking price isn't for a fully loaded model. The Micra will arrive in the Great White North in three trims - S, SV and SR - with the buyer's choice of a five-speed manual or a four-speed automatic. A 109-horsepower, 1.6-liter four-cylinder is the sole engine choice. There will also be a number of accessory options that should allow some personalization for the small cars, with Nissan claiming that things like door handle finishers and mirror caps will be available in five different colors (plus chrome) for under $200.
"At Nissan, we understand the need in Canada for small, urban-friendly cars that are fun to drive and express their driver's personality. With Micra, we're delivering a proven global vehicle at a very attractive price - it's going to make a huge impact on the market," said Christian Meunier, the President of Nissan Canada.