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To survive in India, a diminished Nissan bets big on a small SUV

NEW DELHI — By any measure, Nissan has had a dreadful run in India. A push to revive its lower-end Datsun brand flopped, sales have slumped 60% over the past five years, and its sole plant in the country is operating way below capacity. But the amount of money and energy that Nissan — battered by scandal and expecting a record $4.5 billion annual operating loss worldwide — will spend to turn its fortunes around in India will hinge on the sales of one vehicle, its new Magnite compact SUV. The SUV may also determine how much heft Nissan will wield as it and alliance partner Renault thrash out their respective roles in the Indian market. Unveiled this month and due to be launched either late this year or early 2021, the Magnite will be Nissan's first new vehicle in India in two years. It's expected to have a 1.0-liter three-cylinder engine with 72 horsepower, and a turbocharged version of that engine making 100 horsepower. It will have features such as an 8-inch touchscreen, cruise control, and a 360-degree camera. Moreover, it will be just one of three Nissan-branded models in the market after two others were pulled in April when tougher emission rules kicked in. "Magnite will buy Nissan a couple of years to figure out a plan for India and the SUV's success will determine whether it invests more or scales down operations," said one source. A second source called the sport-utility vehicle Nissan's "last hope" to revive the brand in India. Japan's No. 2 automaker has, however, no plans to withdraw from India, where it has invested over $800 million, and discussions about strategy are ongoing, the sources said. They were not authorized to speak to media and declined to be identified. The Datsun brand is likely to be phased out as part of a global overhaul, they added. Nissan's only other models in India are three Datsun cars. Nissan said in a statement to Reuters it is committed to the Indian market and has a well-defined strategy for "a sustainable and profitable business". It declined to comment on sales goals for the Magnite.   Who will lead? Nissan's internal plans call for sales of 1,500 to 2,000 Magnites a month, the first source said — which if realized would exceed the average India monthly sales it achieved last business year with seven models. The SUV will be priced "aggressively," the sources said without elaborating.

Carlos Ghosn 'very comfortable' after questioning by Lebanese prosecutor

BEIRUT/TOKYO — Carlos Ghosn's lawyer said he was "very comfortable" with legal proceedings in Lebanon on Thursday, after the fugitive ex-Nissan boss was questioned over an extradition request from Japan where he faces criminal charges. Ghosn fled Japan to Lebanon, his childhood home, last month as he awaited trial on charges of under-reporting earnings, breach of trust and misappropriation of company funds, all of which he denies. His dramatic escape has raised tension between Tokyo and Beirut at a time when Lebanon is seeking an international bailout to help it tackle a deep financial crisis. Ghosn slammed the Japanese justice system at a two-hour news conference on Wednesday, prompting Japan's justice minister to launch a rare and forceful public response. After questioning in Beirut about Japan's Interpol wanted notice, two judicial sources said the prosecutor had imposed a travel ban, a step Carlos Abou Jaoude, a Beirut-based lawyer for Ghosn, described as procedural to broadcaster Al Jadeed. Lebanon has no extradition agreement with Japan. "He (Ghosn) is very comfortable with the path," Jaoude told another broadcaster, MTV, adding that Ghosn was also comfortable in himself "especially after what he went through."   Related: CES 2020 and Carlos Ghosn | Autoblog Podcast #609 Ghosn: Nissan-Renault strife and his arrest can be traced back to Macron The rise, fall and flight of Carlos Ghosn   One of the judicial sources said authorities had asked Japan for its file on Ghosn, including the charges against him, and would not question him again until the information is received. Ghosn would surrender his French passport on Thursday, he said. Ghosn said later he was more comfortable with the Lebanese judiciary than that of Japan. "I will fully cooperate," he told broadcaster LBCI. Japan's Justice Minister Masako Mori said Ghosn's allegations that he had had "zero chance" of a fair trial in Japan were unfounded. "Defendant Ghosn was looking to justify his unlawful exit from Japan by propagating a false recognition of our justice system," she said at the second of two news conferences, the first of which was held shortly after midnight. "I felt that we needed to respond immediately to broadcast a correct understanding to people around the world." Ghosn told LBCI her comments were "ridiculous." "Today my concern is clearing my name and reputation because all the accusations against me are fabricated," he told Al Jadeed. Trial in Lebanon?

Nissan's dismal 2019: Where does Japan's struggling brand go from here?

Auto sales have gradually slowed from their peak during the boom years that followed the global recession, but Nissan's rapid decline stood out even in a year when few high-volume manufacturers had much to be excited about.  Of the "Japanese 3," Nissan's 2019 performance was by far the most troubling. Through November, when the company last posted its global sales figures, its volumes were down 8 percent compared to 2019. Here in the United States, its full-year numbers were down 9.9% in an industry that slid just a hair more than 2 percent overall.  Meanwhile, Honda managed a slight increase in U.S. sales (0.2%) and Toyota, much like the industry in general, finished the year down approximately 2%. Like Nissan, Honda and Toyota have remained committed to cars — including compact and midsize sedans — and have a comprehensive portfolio of offerings in the key SUV and crossover segments.   On paper, Nissan's lineup checks all the right boxes. From the subcompact Kicks up to the Armada, it has something for sale in virtually every possible nook and cranny of the people-mover segment, but almost all of these trucks (and trucklets) took a beating in 2019. Only the baby Kicks managed to improve on its 2018 sales, which isn't saying a whole lot, considering it was barely sold in 2018 to begin with.  In fact, the bonus volume contributed by Kicks helps obscure just how poorly some of Nissan's key offerings performed last year. Combined Rogue and Rogue Sport sales slid 15%; Murano was down more than 18%; the Pathfinder and Armada managed to pace the general industry, dropping 2.8 and 1.9%, respectively, but the astute reader will note at this point that we've yet to single out any bright spots. The news was even worse on the truck side. Frontier was down 9.1%. Titan? Down 37.5%. Crossovers and SUVs are selling. Trucks, even from import brands, are also selling. Toyota's mid-size Tacoma was up in 2019; both it and the full-size Tundra still more than tripled the volume of their Nissan competitors. Further muddying the waters, Honda managed its year-over-year volume increase without selling a full-sized pickup at all.  What, then, is Nissan's problem? To borrow an oft-used phrase, "It's the product, stupid." The most striking evidence of this issue is the Rogue, which competes in the compact crossover segment — a collection of vehicles that essentially sell themselves.