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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Common Nissan Maxima vs. Subaru Legacy breakdowns

The Nissan Maxima and Subaru Legacy are both popular sedans. Similarities can be seen in price, styling, and performance. What are some common repair problems seen in each model? When do they occur and how much do they cost to fix? What about how to pay for car repairs? Let's find out. Check Engine Light Both Maxima and Legacy owners dread the appearance of this little light. In the Nissan, it's most likely a failed ignition coil. This part transforms the car battery voltage into a higher voltage required for starting. This problem appears more often in Maximas with over 140,000 miles. The cost to replace the ignition coil runs around $400, parts and labor. The check engine light on the Subaru Legacy is more often due to a failed oxygen sensor. The O2 sensor measures the oxygen level in the exhaust and can affect fuel consumption. This part fails more frequently in models with over 110,000 miles. The repair costs around $200. Legacy Sound System Problems It's not uncommon for the Legacy to have sound system failures at 140,000 miles or more. The speakers might not work or only function intermittently. Hitting a bump might also cause the radio to shut off. Repair costs here can vary, but the typical charge is around $600. Nissan Check Engine Light Part 2 The Nissan check engine light also may appear due to oil leaking from the camshaft position sensor. Difficulty with stalling and acceleration might occur as well. The repair costs around $250 and is more frequent in models with over 104,000 miles. Big-Ticket Items Some repairs are especially costly. In Maximas with over 120,000 miles, the power steering pump may begin to malfunction. This produces a clunking or knocking sound when driving over uneven terrain. Steering might be affected with abnormal noises heard when turning the steering wheel. A Nissan Maxima power steering pump replacement costs around $1,250, parts and labor. Now, if you begin to feel your Legacy vibrating or shuddering at around 116,000 miles, it may be a transmission problem. It's more noticeable when the car shifts gears. Legacy transmission repair can be expensive, costing up to $2,000 or more. Even more costly is a Subaru Legacy head gasket failure, seen more often at 110,000 miles or more. AC malfunction, fluid leaks, and engine overheating can occur when the head gasket fails. The repair costs are around $3,000.

Nissan executive Jun Seki resigns to become president of Nidec

YOKOHAMA, Japan — The executive tasked with leading a recovery at Nissan said he had decided to resign just weeks into his new job, a move that could disrupt the automaker's push to turn the corner on scandal and slumping sales. Jun Seki, Nissan's vice chief operating officer and a former contender for chief executive, told Reuters he was leaving to become the president of Nidec, a Kyoto-based manufacturer of automotive components and precision motors. He will likely depart in January after three decades at Nissan, including a stint heading its China business. "I love Nissan and I feel bad about leaving the turnaround work unfinished, but I am 58 years old, and this is an offer I could not refuse. It's probably my last chance to lead a company too," he said in a brief interview. "It's not about money. In fact, I will take a financial hit since Nissan pays us well," Seki said. He declined to elaborate further. Nissan and Nidec declined to comment. Seeking to roll back some of the costly expansion under ousted chairman Carlos Ghosn, Nissan has embarked on wide-ranging turnaround plan. That plan, which began in April, is now on track to generate a cumulative few hundred billion yen in cost cuts and operational efficiency gains by the year to March 2022, according to two Nissan sources who spoke on condition of anonymity. One hundred billion yen is roughly equal to $915 million (707 million pounds). Adding to concerns about disruption among Nissan's top management, the sources said that Seki, Chief Operating Officer Ashwani Gupta and Chief Executive Makoto Uchida have so far failed to gel as a team after being named to their posts in October. They officially took over on Dec. 1. "There was no instant, cohesive chemistry achieved by those appointments," one of the sources said. Gupta and Uchida were not immediately available for comment. Seki's resignation could further complicate Nissan's relationship with top shareholder Renault SA. Seki recently worked in Paris for a year and was seen as relatively close to the French automaker. PERSUADED IN THE END Asked if he was leaving Nissan because he was passed over for the role of chief executive, Seki said that was not the case but did not elaborate. He and Uchida, most recently the head of the China business, had been seen as top contenders for the CEO job. Reuters reported in September that Uchida was seen as more favored by Renault.