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Nissan CEO Uchida says he's willing to be fired if turnaround fails

YOKOHAMA — Nissan's new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan's second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. Makoto Uchida, who took over the top job in December, put his job on the line at the automaker's shareholders' meeting, where he faced demands ranging from cutting executive pay to offering a bounty to bring Ghosn back to Japan after he fled to Lebanon. Nissan's worsening performance has heaped pressure on Uchida, formerly Nissan's China chief who became its third CEO since September, to come up with aggressive steps to revive the company. On Tuesday, Uchida, who was repeatedly heckled by shareholders, said he was ready to face dismissal if he failed to improve profitability at the company, which is on course to post its worst annual operating profit in 11 years. "We will make sure that we steer the company in an effective way so that it is visible in the eyes of viewers. I will commit to this: if the circumstances remain uncertain you can fire me immediately," he said. Uchida, 53, did not give a timeframe for improving Nissan's performance. The new boss must prove to the board he can accelerate cost-cutting and rebuild profits at the 86-year-old Japanese giant, and that he has the right strategy to repair its partnership with France's Renault, sources have told Reuters. Uchida pleaded with shareholders to be patient while he comes up with a plan by May to recover from crumbling profits and a corporate shake-up following Ghosn's arrest in Japan in late 2018 over financial misconduct charges. "If you can be patient a little bit longer, on a day-to-day basis you will be able to sense we are changing," he said. Ahead of the meeting, some shareholders demanded more clarity about Uchida's plan. "I just want to know what the plan for recovery is. At the moment, the share price has dropped again, and the value of the company has plummeted," said a 70-year-old former employee who owns shares in the company. "If this is the situation, part of me thinks that we would be better off with Ghosn ... If we don't get a clearer vision of the path the company is taking, it will be a worry." Nissan's shares are trading around their lowest level in more than a decade following its latest earnings.

Renault, Nissan and Hyundai face shutdowns in India over workers' COVID fears

CHENNAI, India — Automakers Renault, its alliance partner Nissan and Hyundai face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 infections. Workers at Renault-Nissan's car plant in the southern state of Tamil Nadu will go on strike on Wednesday because their COVID-related safety demands have not been met, a union representing the workers told the company in a letter on Monday. Hyundai said it would suspend operations at its plant, also in Tamil Nadu, for five days starting Tuesday, after several workers staged a brief, sit-in protest on Monday amid rising cases in the state. "The management agreed to close the plant after workers expressed concerns over safety after two employees succumbed to COVID," E. Muthukumar, president of the Hyundai Motor India Employees Union, told Reuters. The unrest highlights the challenges companies face in India amid a huge wave of COVID-19 infections, an overwhelmed health system and a shortage of vaccines which is making employees more fearful. Tamil Nadu is one of the worst hit states with more than 30,000 cases a day last week. The state, an auto hub known as India's Detroit, has imposed a lockdown until May 31 but allowed some factories, including auto plants, to continue operating. The strike threat at the Renault-Nissan plant came ahead of a court hearing on Monday over allegations from workers that social distancing norms were being flouted and factory health policies did not sufficiently address the risk to lives. Renault-Nissan has said it is following COVID-19 safety protocols. At the hearing, a lawyer for the workers argued that while the company had reduced the number of shifts, production numbers had not been cut and the headcount remained the same leading to crowding on the factory floor. The company told the court it had reduced the workforce to around 5,000 from 8,000. It also said it had vaccinated employees over 45 and was willing to inoculate those under 45 if vaccines were made available. The two-judge bench presiding over the case said that while the health of workers is paramount, if industries go down there will be no place for them to work. They also said the company must not take advantage of the exemption granted by the state and should reduce production to meet only necessary export orders. "The production should have fallen ... You also have to assuage the feeling of the workers," said the court, which will next hear the case on May 31.

Best gas mileage cars

If you're looking for the cars with the best gas mileage, your best bets are hybrids and EVs, and with the latter, then it's a case of energy efficiency considering the lack of gasoline. But maybe you don't like the idea of an electrified vehicle. Maybe you're concerned about more complicated powertrains or new technologies. Maybe you're put off by the extra up-front cost of those vehicles. So what's the best way to get good fuel economy, without batteries? Well, we've pulled together the 10 most fuel-efficient cars that only run on gasoline. Best Gas Mileage Cars for 2024: 2021 Mitsubishi Mirage and Mirage G4 View 27 Photos Mitsubishi Mirage: 39 mpg combined When you can't be electrified, you need to achieve high efficiency with other strategies. In the case of the Mitsubishi Mirage, those come from low weight (just 2,084 pounds) and low power (just 78 horsepower). That's how the Mirage manages to top the list at 39 mpg combined. In the city it gets 36 mpg, and on the highway it manages 43, both of which are tops in this list, too. That just applies to the hatchback, though. The sedan would technically be second on the list with 37 mpg combined, but we're generally lumping together body styles. The other big draw of the Mirage is that it's incredibly cheap and has a long warranty. The base hatchback starts at $18,110 with destination, making it one of the cheapest cars on the road. And it has a 10-year/100,000-mile powertrain warranty. So if you're looking for maximum frugality above literally all else, it's hard to top the Mirage. Honda Civic: 36 mpg combined While the Mirage wins technically, it makes many compromises to achieve its price and fuel economy. The rest of the list provides far better balancing of economy with being quality modern automobiles. And coming in second is the Honda Civic sedan (pictured at the top of this article) in EX trim with the turbocharged 1.5-liter four-cylinder and CVT. This variant manages 33 mpg in the city, 42 on the highway and 36 combined. Going to the Touring trim drops fuel economy to 34 combined, and the 2.0-liter non-turbo engine gets between 33 and 35. The most efficient hatchback gets 35 mpg combined. The hatch is even available with a manual transmission, but it's also the least efficient (31 mpg). Then there's the Si and Type R, but with much more power and handling upgrades, they're basically different models. Regardless, almost every version of the Civic is quite frugal.