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Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.

2014 Nissan Leaf price climbs $180 to $28,980*, Ghosn predicts sales doubling

A year ago, Nissan changed the fortunes of its all-electric Leaf in the US market by lopping a serious $6,400 off of the price. The entry-level 2012 Leaf started at $35,200, and the 2013 Leaf S instantly became a much better deal since it started at $28,800. For 2014, the trend is in the opposite direction, but only just. The 2014 Leaf S will start at $28,980. The other two trim levels will start at $32,000 for the SV and $35,020 for the SL. Oh well, we can't get a $6k drop every year, can we? What do you get for your extra $180? Well, as described in July, the 2014 model has the rear camera as standard and there is an available voice command navigation system and text message reader. We've got the full specification breakdown and pricing press release below. We doubt the small extra cost will do much to dent the Leaf's current sales upswing. December 2013 was the EV's best sales month ever, and a grand total of 22,610 units in 2013. That's more EVs than Nissan sold in 2011 and 2012 put together. Nissan CEO Carlos Ghosn said earlier today that he thinks US Leaf sales will double, but didn't say when. "We are now on a trend of 3,000 cars a month in the US, which is about 36,000 cars" a year, Ghosn told Automotive News. "The next step is moving up to 4,000 a month, which is going to be approximately 50,000." The prices listed above do not include Nissan's $850 destination fee, but all Leaf EVs can qualify for the $7,500 federal income tax credit, as well as state and local incentives in some areas. NISSAN ANNOUNCES U.S. PRICING FOR 2014 LEAF™ NASHVILLE, Tenn. (January 8, 2014) – Nissan today announced U.S. pricing for the 2014 Nissan LEAF™, which is on sale now at Nissan dealers nationwide. The 100 percent electric LEAF continues to offer outstanding value, with prices comparable to similar gasoline-powered vehicles after applicable tax credits. Sales of the zero emission LEAF in the U.S. and around the world set all-time records in 2013. The 2014 Nissan LEAF is available in three trim levels: LEAF S, SV and SL, along with option packages offering advanced systems such as Around View® Monitor and 7-speaker Bose® audio. Enhancements for 2014 include the addition of the RearView Monitor as standard equipment on all models (previously part of the Charge Package) and one new exterior color – Gun Metallic (seven total available colors).

The 11 best scenes from the 2015 Goodwood Festival of Speed

Over the last three days, the Goodwood Estate has played home to the eponymous Festival of Speed. Thrown by the biggest gearhead in the British aristocracy – Charles Gordon-Lennox, the Earl of March and Kinrara – the Festival of Speed is essentially a tremendous, gasoline-fuelled party, complete with a very large lawn sculpture, that features the world's hottest, weirdest, fastest, and loudest race, production, and historic models. While there are quite literally dozens and dozens of videos from the event – not to mention the full-day replays (of which only day one is available, at present) – we've sifted through them to pluck away the very best. There's stuff from the official Goodwood YouTube channel, as well as several videos from automakers and other third-party channels, and it's all available below. 2015 Ford Mustang GT350R Looks Barely Controllable If you thought the highest-performance Ford Mustang would somehow get more tractable or civilized once it moved to an independent rear suspension, this video shows you have nothing to worry about. Watch as an unnamed driver wrestles the new Shelby GT350R and its flat-plane, 5.2-liter V8 up the hillclimb circuit. Even with the new suspension and sticky tires, this Mustang wants to go any direction but straight, especially following its launch. 2016 Ford Focus RS, Is Very Loud, Blue Ken Block makes his first appearance on our list. Before he steps into his Hoonicorn Mustang, though, the Gymkhana expert tackled the hill in the all-new Focus RS. The vicious bellow of the 2.3-liter, turbocharged four-cylinder is the star of this commentary-free video, although the gorgeous Nitrous Blue paint job is a nice accompaniment, as well. 1965 Ford Mustang Hoonicorn Runs Hill, Nearly Kills Lord March Mr. Block's two runs behind the wheel of the Hoonicorn were, unsurprisingly, very eventful. While one attempt goes off without a hitch, seeing the American rally driver slip and slide his way to the top of the hill while taking a short break for a donut, the other is slightly more dramatic. Block, along with Lord March in the passenger seat, carries a bit too aggressive an angle into a turn and nearly puts the NASCAR-powered Mustang into the hay bales. Check out the first video above, and the second one below. Kimi Raikkonen Makes Us Miss F1's V8 Era The latest Formula One cars have been maligned for the lackluster noise produced by the new 1.6-liter, turbocharged V6.