Nissan: Frontier Sv Sport Appearance on 2040-cars

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Nissan CEO Saikawa admits he was overpaid, in policy violation

TOKYO — Nissan Motor Co was embroiled in another scandal over executive pay on Thursday after Chief Executive Hiroto Saikawa admitted to being overpaid in violation of internal procedures under a scheme designed by ousted Chairman Carlos Ghosn. An internal investigation found that Saikawa and other executives had received improper compensation, a source with knowledge of the matter told Reuters, raising doubts about Saikawa's pledge to improve governance in the wake of Ghosn's arrest last year for alleged financial misconduct. Saikawa apologized and vowed to return any improperly paid money as he admitted to Japanese reporters earlier on Thursday that he had wrongly received stock-related compensation under "a scheme of the Ghosn era." "I am deeply sorry for causing concern," Saikawa said, according to Jiji Press. In other comments reported by Kyodo news, Saikawa denied any direct role in the execution of a stock appreciation rights (SAR) scheme and said he thought "proper procedures" had been taken. The improper payments, including tens of millions of yen Saikawa received through the SAR scheme, were disclosed on Wednesday at a meeting of Nissan's audit committee, said the source who declined to be identified because the information is not public. Disciplinary action regarding the issue would be discussed at an upcoming board meeting, the source added. Nissan said in a statement that the findings from its probe including issues related to the share appreciation rights would be submitted to its board on Sept. 9. The company has been trying to strengthen governance, slash costs and boost flagging profitability amid persistent allegations of financial misconduct stemming from Ghosn's 20-year reign at Japan's second-biggest automaker. Ghosn is awaiting trial in Japan over charges including enriching himself at a cost of $5 million to Nissan. Kyodo reported that proceedings could start as early as March. He denies any wrongdoing and says he is the victim of a boardroom coup. Confidence in Saikawa had already been shaken by accusations he was too close to Ghosn, whose arrest in November rocked the global auto industry and exposed tensions in the automaking partnership between Nissan and Renault SA.

Farmer moves illegally parked car with tractor

Bad parking in London can get you a ticket or the boot, but bad parking in the West Country is treated in a more direct manner. One motorist learned this fact in early May when a video published by The Daily Mail showing a farmer moving a car with his tractor went viral. Lianne Dunn and Ally Boxall were out for a drive near Marksbury when they came upon a strange sight. Coming at them down the narrow country lane was a tractor with a red Mazda6 perched on its front-end loader attachment. One of the women pulled out her cell phone and filmed the odd scene while the other backed into a convenient driveway to let the tractor past. As the tractor trundled by with its load, they asked the young man guiding the driver what was going on. "They parked in this chap's drive," he said in his broad, West Country burr. "He asked us to move the car, nobody claimed it." When asked where the pair were taking the car, the unnamed farmer replied, "We're going to put it up on the main road. It's the police's problem then." The two women, obviously entertained by the spectacle, exchange a few more words with the young farmer before they finally drive off. "This is the best!" one of the women says as on the video. "Never piss a farmer off!" News Source: The Daily Mail, The Western Gazette Humor Weird Car News Mazda Nissan Driving Diesel Vehicles Sedan parking tractor farmer

2018 Honda Accord charges into slumping sedan market

DETROIT - Honda on Friday revealed its newest-generation Accord, one of four re-engineered midsize sedans that Asian automakers are betting on to win market share as Detroit automakers shift focus to SUVs, crossovers, and pickup trucks. The new Accord, like rival Toyota's all-new Camry arriving this month, offers major improvements in fuel economy, technology, styling and safety. Honda declined to discuss details ahead of Friday's event in Detroit. The Accord and Camry are pillars of their manufacturers' US businesses, each selling well over 300,000 vehicles a year. In the coming months, Nissan is expected to launch a new Altima midsize sedan, and Hyundai will launch a new Sonata. Both are popular marques that will be promoted heavily. "There has been no new news on the midsize sedan side for three years, and we think this is a great opportunity to bring attention back to the segment," said Jack Hollis, Toyota's head of marketing for North America. Year to date, US passenger car sales are down 11.4 percent, and sales of midsize sedans are down 14.2 percent. Still, Americans bought 7.1 million sedans in 2016. With General Motors and Ford cutting sedan production, and Fiat Chrysler Automobiles abandoning the segment, Honda and its Asian rivals could boost sales with updated models, dealers said. "They could take share from other brands, which is traditionally what happens when a new product is launched," said Pete DeLongchamps, vice president for manufacturer relations at Group 1 Automotive Inc, the third-largest US auto dealer group. "NOT FINDING A PLACE WITH CONSUMERS" The Accord for years was Honda's top-selling model in the United States. Within the past year, US sales of the Honda CR-V have eclipsed the aging Accord, and Honda has expanded production capacity for the compact crossover. Passenger-car sales have steadily declined since 2012, when they made up 51.2 percent of the US market. Sedans have sagged to a 38.1 percent share in the first half of this year. IHS Markit said US consumer loyalty to SUVs and pickup trucks has risen since 2012, but declined for sedans. The new Accord and Camry "may stem the decline," said IHS Markit's Tom Libby. "I don't think they will cause a marked reverse." Improvements to the Accord should boost sales at Galpin Honda in San Fernando, California, general manager Ed Hartoonian said.