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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.

Ten of the greatest Super Bowl car commercials of all time

With an average of over 100 million viewers each year, the Super Bowl always has advertisers bringing out the big guns. And for those among us who don't know the difference between a safety and a touchback, those commercials can be one of the most compelling aspects of the annual ritual. Car companies, in particular, have a long history of making the most of the huge Super Bowl audience by debuting some of the most memorable advertisements that have ever aired on television. So, in preparation for the new batch we'll be seeing this coming Sunday, here's a collection of our favorites from the past. 10. Audi – The Godfather When Audi created this homage to the quintessential gangster movie to promote its newest sports car, the company managed to make a commercial that was simultaneously funny, a little bit disturbing, and most importantly memorable. 9. Maserati – Strike This one might start out slow, but it delivers not only with the wicked sound of the third-generation Ghibli's engine, but with an interesting message about hubris in the auto industry as well. 8. Nissan 300ZX Twin-Turbo – Dream Directed by none other than Ridley Scott (Blade Runner, Alien), this dystopian spot has centers around a narrator who explains that in his dream the bad guys are unable to catch him despite their best efforts by way of street bikes, race cars, and supersonic jets. While the twin-turbocharged 300ZX car was certainly a performance powerhouse to be reckoned with in its day, the concept and execution of this one does come off a little bit campy now – but in a good way. Then again, it is a dream, after all. 7. General Motors – Robot This one is unique in that it's genuinely depressing on a profound level. Who would've thought that the simulated suicide of a lovable, anthropomorphic car-building robot who has fallen on hard times could be such a downer? 6. Nissan – With Dad Although the debut season of its new LMP1 racer didn't exactly turn out how the team hoped it would, there's no denying that Nissan's depiction of a strained father-and-son relationship that eventually leads to redemption (and the introduction of the 2016 Maxima) tugs at the heartstrings. 5. Volkswagen – Big Day A surprisingly poignant advert, this one might be low on dialogue but it certainly gets its message across. And just as the dramatic soundtrack begins to lull the viewer into a sense of security, our expectations are upended. 4.

Nissan drives glowing Leaf on Holland's glowing highway

If you thought that applying phosphorescent paint to the Nissan Leaf made it look like something out of Tron already, brother... you don't know the half of it. Or at least you won't have until you see what the car looks like on a glow-in-the-dark highway. A glow-in-the-what-now, you ask? That's right: for about a third of a mile on the N329 in the Netherlands, running through the city of Oss, the highway glows in the dark. Not the whole roadway, of course. That'd be weird. Even for the Dutch. No, the so-called Smart Highway designed by Daan Roosegaarde (whose Dutch heritage is evident by the number of vowels in his name) uses phosphorescent stripes to obviate the need for lighting. They work just like the paint on the Leaf (or for that matter any number of toys we had as kids), absorbing sunlight during the day and emitting it at night... in this case for up to eight hours. The resulting footage and photography, though surely heavily edited, needs to be seen to be believed. That is, assuming you don't already live in a computer where users force you to play in games for their own amusement and Jeff Bridges runs amok. Related Video: BRIGHT FUTURE: NISSAN LEAF IS FIRST GLOW-IN-THE-DARK CAR TO DRIVE GLOWING HIGHWAY · All-electric Nissan LEAF is the first glow-in-the-dark car to drive on the luminous Smart Highway in Oss, Netherlands · Unique highway design saves energy by removing need for street lights · Nissan EV sales increase by 313% across the Netherlands · Watch the film at: https://youtu.be/8Dv3PxDj2ks Nissan has blazed a trail by driving its unique glow-in-the-dark zero-emission LEAF along the world's first glow-in-the-dark motorway in Oss, Netherlands. Nissan recently became the first modern passenger car manufacturer to apply glow-in-the-dark car paint to a car, to showcase how many customers of the world's best-selling electric vehicle are powering their car from solar energy generated at home. Now it has gone one step further, by driving the all-electric Nissan LEAF on the Smart Highway – the first time a phosphorescent car has been driven on the famous stretch of road. And the location of the world's only luminescent highway was fitting, as Nissan has announced an uplift in electric vehicle sales of 313 percent in the Netherlands last year. The innovative Smart Highway project was conceived by designer Daan Roosegaarde to help guide drivers in the dark, while saving energy that might otherwise be used in street lighting.