2002 Nissan Maxima on 2040-cars

Auto blog

Renault selling part of Nissan stake to partner for $824 million

Renault SA is selling around 5% of its stake in partner Nissan Motor Co., offloading the stock as part of a share buyback by the Japanese carmaker.  The move follows last month’s finalization of a plan for Renault to reduce its interest in Nissan. The stake sale is valued at around ˆ765 million ($824 million), but will result in a capital loss of ˆ1.5 billion, the French company said Tuesday.  Eventually, the two carmakers aim to equalize their cross-shareholdings at 15%, loosening the ties that kept them together in a carmaking alliance for two decades. The partnership between Nissan and Renault was jolted in 2018 by the arrest of Carlos Ghosn, chairman of both companies. Since then, they have drifted apart and are now charting separate paths. Given that NissanÂ’s shares are trading below the Tokyo Stock ExchangeÂ’s guideline of maintaining a price-to-book ratio above 1, the buyback will “help improve the situation,” said Bloomberg Intelligence analyst Tatsuo Yoshida. The cash will bolster Chief Executive Officer Luca de MeoÂ’s efforts to get Ampere, RenaultÂ’s electric-vehicle and software arm, going as he seeks to split off the unit and list it as a separate public entity as soon as April or May. Nissan has also agreed to invest in Ampere. Renault transferred its 28.4% stake in Nissan into a trust in early November to pave the way for a reduction of its holding. Even so, there will still be lock-up and standstill obligations. De Meo said last month that Renault would begin offloading the stake “very soon” in early 2024, so TuesdayÂ’s announcement was slightly earlier than anticipated. For Nissan, the buyback is well within the value of cash and equivalents, which stood at JPY1.6 trillion ($11 billion) yen at the end of September. Nissan said it will cancel all acquired shares.  “ItÂ’s good news for the stock that Nissan will retire the equivalent of 5% of its outstanding shares,” Yoshida said.  The Japanese carmaker is paying JPY568.5 for each share, the price at the close of trading in Tokyo on Tuesday. While NissanÂ’s stock has climbed 36% this year, itÂ’s at roughly half of its value from early 2017. Earnings/Financials Nissan Renault

2016 Nissan Titan endures more torture testing

The burly, next-gen 2016 Nissan Titan XD made its big debut at the 2015 Detroit Auto Show and promised to launch later in the year with multiple bed lengths, several cab configurations and the choice of a Cummins 5.0-liter diesel V8 pumping out 310 horsepower and 555 pound-feet of torque. While we wait for the truck to arrive at dealerships, the brand is continuing to tell the pickup's development story through the Titan Truckumentary series of shorts videos. Nissan has already used the clips to look back at its pickup history, but the latest entry puts the focus directly on the new Titan, specifically, its torture testing during development. One trial bounced the truck around for months on a durability machine to simulate 370,000 miles of rough driving. Although, the true fun comes from watching the real-life evaluations where engineers slam the model into curbs and drive it off ledges to see what it can take.

Did Amazon just deliver a car in a giant box?

Back in September, reports started rolling in that Amazon would get into the auto sales business after a promo for the Nissan Versa Note appeared on the online retailer's page. That link didn't actually sell a car, but instead acted as a referral service for potential customers, linking them up with dealers. A recent image that's been floating around on Reddit and that was picked up by The Huffington Post, though, has us wondering if Amazon has dove into the actual business of selling cars, rather than just referring people to dealers.
The image, above, shows an enormous Amazon box on the back of a flatbed tow truck. According to HuffPo, this could be one of the cars sold through the earlier promotion for the Versa Note (which was sweetened with the addition a $1,000 Amazon gift card). Apparently, three of the Versas purchased would arrive in such a fashion. Then again, this could all be nothing more than an elaborate publicity stunt. Amazon is, after all, the company has been touting drone delivery of its goods.
What do you think is in the box? Let us know down in Comments. Bonus points for those that come up with an idea as absurd as the bulk order of banana slicers HuffPo mentioned.