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Carlos Ghosn's jail time extended, as family says he was framed

TOKYO — Former Nissan chairman Carlos Ghosn will be detained at least through Jan. 11, the Tokyo District Court said Monday, as the once-revered auto industry figure faces allegations that have marked a stunning downfall. Ghosn, who led Nissan Motor Co. for two decades and helped save the Japanese automaker from near bankruptcy, was arrested Nov. 19 on suspicion of falsifying financial reports. He also faces a breach of trust allegation, for which his detention had been approved previously through Jan. 1. The Tokyo District Court said in a statement that it had approved prosecutors' request for a 10-day extension. Ghosn has been charged in the first set of allegations, about under-reporting Ghosn's pay by about 5 billion yen ($44 million) in 2011-2015. Related: Top 10 automotive stories of 2018 Those close to Ghosn and his family say he is asserting his innocence as the alleged underreported amount of money was never really decided or paid, and Nissan never suffered any monetary losses from the alleged breach of trust. It is unclear when Ghosn may be released on bail. Tokyo prosecutors consider Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, a flight risk. In Japan, formal charges can mean a suspect will get detained for months, sometimes until the trial starts, because of fears of tampered evidence. Some experts are puzzled that the allegations against Kelly and Ghosn are about underreporting income from Nissan. Nissan is in charge of filing such financial reports, not individual executives. Over the weekend, The New York Times published an article, "The Rise and Fall of Carlos Ghosn," describing his arrest as well as his almost legendary ascendance as the outsider who saved Nissan: "He was a person who was above the clouds," said one Nissan employee. But it's clear from the article that his autocratic style has long rankled the Japanese. In a sidebar, the NYT also covered accusations from Ghosn's daughters that Nissan had set him up for a fall, part of a mutiny against his explorations of a merger between Nissan and Renault. They point out that Hiroto Saikawa, the chief executive of Nissan, complained about the nature of the alliance in the first news conference following Ghosn's arrest. "Wow," daughter Caroline Ghosn said. "He didn't even waste a breath. He didn't even try to cover up the fact that the merger had something to do with this." The NYT articles included Ghosn family photos showing a softer side to the stern auto executive.

'Car Wars' says Ford, Honda to pick up share, Fiat-Chrysler ambitions downplayed

Don't look for a tremendous shifts in automotive market share over the next three years because it might not be coming. That's at least according to the annual Car Wars report by John Murphy, from Bank of America Merrill Lynch Global Research.
In the report's analysis of automakers' market share from 2013 to 2017, it predicts only small changes among the major companies. Ford and Honda see the biggest positive effect with an estimated 0.5 percent increase in their shares over the next three years; to 16.2 percent and 10.3 percent respectively. On the flip side, European automakers and Nissan are expected to lose 0.2 percent each to fall to 8.3 percent and 7.8 percent each respectively. The rest of the industry is predicted to hold steady as it is now.
The biggest loser in that prediction might be Fiat-Chrysler Automobiles. The report certainly throws a wet blanket on its plan for significant gains in market share. Murphy told The Detroit News that the company's goal was "almost unattainable."

These 'blind' automotive world record stunts have to stop

Drivers setting world records "blind" – wearing a blindfold or with something obscuring the windshield – is the new thing for some reason. First it was an Alfa Romeo Giulia setting a blind lap at Silverstone with help from a spotter trailing behind, and now this: a stunt man doing a J-turn within a narrow path with nothing but a Nissan Juke's cameras guiding him. He matched the "sighted" J-turn record, flipping the car around in a space about 7 inches longer than the car. I have two issues with these stunts. First, there are just too many world records. Yeah, I said it. Are these meaningful? Is someone else likely to ever attempt this feat? No, because it's just marketing, both for the manufacturer and whoever's still trying to sell those annual books. Stuff like the fastest production car is fine with me. Heck, I'll even take unofficial Nurburgring times – the kind where the drivers can actually see. Second, I'm all for stunts, but do something cool! And preferably something that could only be performed with that particular car, if you're going to make an ad out of it. Yes, the Juke has an Around View Monitor system, which stitches together feeds from four cameras to make it look like the car is being filmed by a drone hovering overhead. I happen to love 360-degree cameras – they let you see things that are just not visible from the driver's seat and make parking and low-speed maneuvering really easy. But the Juke isn't the first car to offer one, and the feature isn't even new to the car. Nissan was at least forthright enough to admit that this professional driver (on a closed course!) had a bunch of practice. But this really says more about his precision driving skills than about the car, or the camera. And just so we're clear, you really shouldn't try to park a car without looking out the windows, even if you have fancy cameras. So what's next? Pretty soon there will be a record for blindest blind stunt. Let me know when someone actually does something interesting. Related Video: