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Nissan Xterra discontinued after 2015

Another great big subtraction in the choice of proper off-roaders comes with news from Edmunds that the Nissan Xterra will meet its maker after the 2015 model year. Sales of the body-on-frame SUV introduced in 1999 declined seven percent last year compared to 2013, a total of just 16,505 getting off dealer lots. That's about 1,800 more sales than the Toyota FJ Cruiser achieved for the year, another rugged trail runner recently dispatched into the ether. Meanwhile, the king-of-the-hill Jeep Wrangler almost matched those annual sales number each month in 2014; it moved 19,235 in May alone. Nissan hasn't exactly cared about the Xterra for years; Edmunds reported in 2013 that Nissan was "mulling the Xterra's future" and would take a year to decide if it was going to keep going. But it has been clear for years that the company wasn't too interested in its hardcore off-roader in spite of its "enthusiastic fan base inside and outside the company." The last visible refresh came in 2009, when it was 4Wheeler magazine's SUV of the Year, the next minor feature updates not arriving until 2014. And the Nissan-backed off-road triathlon series the Xterra was named for died in 2006. That's why there's no business case for throwing money at re-engineering the Xterra's safety and emissions specs, especially in a world gone crazy for subcompact crossovers. We contacted Nissan for comment on the report and asked if another Nissan vehicle, like the Rogue, would be positioned as a near-replacement, as has been speculated before. Product communications director Dan Bedore told us, "Nissan has made no announcement as to the future status of Xterra. For proprietary reasons, we do not discuss future product plans or comment on media speculation about future plans." Right now we can hear the Jeep Wrangler at the top of the mountain screaming, "Nobody wants a piece of this? Really?!" So come on, General Motors - it's up to you now.

Nissan Leaf resale value expected to take a hit

Nissan Leaf resale values may take a tumble, according to Kelley Blue Book. The vehicle evaluation resource said the 2013 Nissan Leaf will retain around 35 percent of its MSRP after three years; that's down five percent from what KBB gave the 2012 Leaf at the end of 2011. Automotive News reports KBB adjusted the EV's residual value prediction because the used transaction prices for the 2011 model have stuck around 35 percent for the past few months due to relatively cheap gasoline, not to mention the fact that Nissan trimmed the electric's MSRP from $36,050 to $29,650 before the $7,500 tax credit.
Since used buyers are often motivated by more practical buying concerns than early adopters or those wanting to curb their carbon emissions, they may not be willing to pay more for an EV. Meanwhile, early Leaf models are now coming to auction, abandoned by rental car companies after customers shunned them in favor of traditional internal-combustion vehicles. Many of those at auction have less than 10,000 miles and carry an average transaction price of just $13,700.

Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.