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Recharge Wrap-up: Nissan Leaf brake investigation, EV market will grow in China

Electric vehicles are expected to significantly cut into the gasoline-powered vehicle market in China. According to analysts at Frost & Sullivan, gas vehicles will drop to 94.9 percent of the market, while EVs will reach 4.2 percent by 2020. China's EV incentives, as well as a push in technology innovations, are credited for the rising popularity of plug-in cars. Despite awareness issues and supply shortages holding EVs back, "the Chinese powertrain market will remain buoyant, with increased customer purchasing power and self-esteem needs triggering vehicle sales," according to Frost & Sullivan researcher Ming Lih Chan. The big winners in this equation will be the suppliers of EV components in China. Read more in the press release below. The Canadian government is investigating possible brake failure issues with the Nissan Leaf. The Transport Canada investigation will look at 2013 to 2015 models, which could be experiencing brake malfunctions in severe cold weather. In the US, drivers have reported problems such as aggressive response to driver input and jerky braking, with some problems going away when the weather got warmer. NHTSA hasn't begun an investigation of its own, so far. Read more at Hybrid Cars. Sunspeed Enterprises has started an Indiegogo campaign to fund the installation of EV chargers along the Pacific Coast Sun Trail. As part of creating a 700-mile network of EV Infrastructure along the Pacific Coast Highway, this particular campaign is helping pay for a charging hub powered by renewable energy at the Madonna Inn in San Luis Obispo, California. Donors will receive rewards such as shirts and mugs, as well as charging credits and discounts. At the highest level, a $10,000 donation will net the donor free charging for life at any Sunspeed charging hub. Learn more at Indiegogo. Featured Gallery 2013 Nissan Leaf View 55 Photos News Source: Frost & Sullivan, Hybrid Cars, Transport Canada, Indiegogo Green Recalls Nissan Safety Electric recharge wrapup

Nissan slashes profit forecast as Ghosn arrest hurts brand appeal

TOKYO — Nissan cut its profit forecast for the fiscal year through March on Wednesday to reflect slowing sales, higher costs and the fallout from a criminal investigation of its former chairman, Carlos Ghosn. Nissan Motor Co. expects to post a 319 billion yen ($2.9 billion) profit for the fiscal year, marking a 22% drop from its earlier 410 billion yen ($3.7 billion) forecast. Nissan said the downgrade reflects higher costs in the U.S. from a warranty extension campaign for some vehicles and falling sales due to "corporate issues," alluding to the Ghosn scandal. Ghosn was arrested in November and is facing charges of underreporting his income and breach of trust. He says he is innocent. He was released on bail in March and is awaiting another court decision on bail after his re-arrest on April 4. Nissan, which is allied with Renault SA of France, has seen sales lag in France and Japan, where Ghosn is widely known. In the U.S. and China, buyers aren't as affected by the scandal, but the markets there overall have slowed. Other factors contributed to the revision, such as production not keeping up with demand for the Note, an extremely popular model in Japan. But the high-profile scandal has weakened the brand appeal of the maker of the Leaf electric car, Infiniti luxury model and X-trail sports utility vehicle. Nissan said it expects to sell 5.5 million vehicles in this fiscal year. Earlier it predicted it would sell 5.6 million. The company sold nearly 5.8 million vehicles in the fiscal year that ended in March 2018. The automaker reduced its sales outlook by 0.2% for the fiscal year through March 2019 to 11.5 trillion yen ($103 billion), compared to its previous forecast. It was Nissan's second downgrade for its outlook following one in February that cited faltering sales in China and the U.S. At that time, Nissan also logged costs about 9.2 billion yen ($83 million) related to the alleged underreporting of Ghosn's compensation. Nissan has promised to strengthen its corporate governance to prevent a recurrence of what it says is serious wrongdoing by Ghosn. Ghosn was sent by Nissan's French alliance partner, Renault SA, to help turn the Japanese automaker around when it was near bankruptcy 20 years ago. The future of the alliance is one of many questions clouding Nissan's future following Ghosn's ouster since he was the main liaison for the alliance, which includes smaller Japanese automaker Mitsubishi Motors.

2014 Nissan Versa Note priced from $13,990*

With the 2014 Nissan Versa Note going on sale this month, Nissan has announced the official pricing for its redesigned subcompact hatchback. Commanding a $2,000 premium over the Versa sedan, the new Versa Note will have a starting price of $13,990 (*not including $790 for destination), which is $680 less than the 2012 Versa Hatchback.
The base model is the Versa Note S, but trim levels also include S Plus and SV starting at $15,240 and $15,990, respectively. The S Plus trim will deliver the highest fuel economy - best in class according to Nissan - for the Versa Note thanks to a CVT and active grille shutters, and the SV brings more convenience features like power windows and door locks (that's right, the base models will still get crank windows and manual door locks). Stepping up even further, the SL Package will add push-button starter, backup camera and heated seats for $17,690 while the SL Tech Package tops out at $18,490 with navigation, Nissan's Around View Monitor and Bluetooth. More pricing details for the 2014 Versa Note are posted below in the official press release.