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Nissan names Makoto Uchida as next CEO

TOKYO — Nissan named Makoto Uchida, the head of its Chinese business, as its next CEO, picking an executive known for close ties to top shareholder Renault and for a frank, straight-talking manner that has marked him as an outsider. By selecting Senior Vice President Uchida, Nissan's board has gone with someone slightly at odds with its traditional corporate culture. He joined the carmaker mid-career in 2003, a rarity in a country where top executives usually spend their entire working lives at the same company. Known for his unflagging work ethic and relentless focus on cost control, Uchida was described by one long-time associate who spoke on condition of anonymity as a "foreigner with a Japanese face" — direct and to the point in conversations. He will be joined by newly appointed Chief Operating Officer (COO) Ashwani Gupta, currently COO of junior partner Mitsubishi Motors, in trying to find new ways to revive a business that has been struggling for months with plunging profits, management scandal and tensions with Renault. Japan's second-largest automaker has been shaken in particular by the arrest of former Chairman Carlos Ghosn last year on allegations of financial misconduct, which he denies, and the more recent departure of CEO Hiroto Saikawa after he admitted to being improperly overpaid. Whether the 58-year-old former theology student can deliver a miracle turnaround — particularly at Nissan's business in the United States — and repair ties with Renault will now be a focus for investors. "The biggest business challenge for Nissan is speeding up," the head of Nissan's nominations committee, Masakazu Toyoda, told a news conference. "Speedy decision making is a challenge that Uchida raised, and to this end he said that he wants to empower people as much as possible, so we decided to ask Uchida to take on the CEO role." One source close to Renault described the selection as "a victory for the alliance", saying that both Uchida and Gupta knew the business and were ready to help Nissan recover. 'ISN'T REALLY JAPANESE' Before his ouster, Ghosn had been working on a plan for a full merger of Renault and Nissan, but had met resistance in Japan, which is concerned about French influence in the alliance. The French government is a major Renault shareholder. Relations were further strained this year when Renault held abortive merger talks with Fiat Chrysler Automobiles.

Mitsubishi to showcase Outlander PHEV Concept-S in Paris

The Mitsubishi Outlander PHEV is rumored to finally come to the US next fall as a 2016 model. In the meantime, the Japanese brand is showing off a concept for an Outlander plug-in at the Paris Motor Show in October with a massive improvement in styling and material quality that the automaker calls the "Sporty and Sophisticated" design theme.
With just a nip and a tuck, Mitsubishi's stylists have made the Outlander PHEV look a whole lot better. Instead of the narrow, squinting look of the current model, the concept shows a more vertical design that puts a big X right on the front end. In the center, there is an updated version of the horizontal grille leading to reshaped headlights. The big changes are found somewhat lower, with an air dam that is much better integrated thanks to black and chrome accents to draw the eye. The company claims that the rear gets similar upgrades with new lights and shining trim running across the tailgate.
The improved styling gets carried inside, as well. According to Mitsubishi, the design features black wood grain trim and silver accents throughout the cabin, and the center console is inspired by Japanese black lacquer boxes. The seats are also covered in hand-stitched leather with horizontal ribs.

Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade