2014 Nissan Versa 1.6 S on 2040-cars

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Carlos Ghosn changes to hotshot attorney and a new defense strategy

TOKYO — Carlos Ghosn's chief defense attorney Motonari Otsuru resigned and was replaced by a team that includes hotshot lawyer Junichiro Hironaka, in a change of strategy from the ousted Nissan Motor chairman three months after his arrest. Ghosn, Nissan's one-time savior, has been held in detention since his Nov. 19 arrest. He's been indicted and accused of under-reporting his salary and breach of trust. He has denied the charges. The once-feted auto executive hired Hiroshi Kawatsu as head of a new defense team, his office said on Wednesday. Hironaka, 73, has won several high profile cases, helping acquit senior lawmaker Ichiro Ozawa and senior bureaucrat Atsuko Muraki. Hiring Hironaka would mean a more aggressive legal strategy, said Nobuo Gohara, a former prosecutor. Otsuru previously led the special prosecutors' office that is now handling Ghosn's case. "Otsuru was miscast. He worked at the heart of the special prosecutors office so he was not someone who was going to go after them aggressively," Gohara said. "Hironaka is an experienced defense lawyer who has won a number of cases. He will mount a more thorough and aggressive defense." Otsuru's office confirmed his resignation in a statement, but gave no reason for the move. A second member of Ghosn's defense team, Masato Oshikubo, had quit, it said. Go Kondo, Ghosn's third defense lawyer, was unavailable for comment. Ghosn released a short statement thanking Otsuru for his team's "tireless and diligent work," and called him a "very capable and intelligent man and lawyer." The sudden change in attorneys comes ahead of the expected start of informal meetings with prosecutors and judges to discuss pretrial preparations, an indication that there will be no new charges against Ghosn. "As we begin the trial phase, I have decided to engage Hironaka-sensei as my legal counsel," Ghosn said, using an honorific suffix. "I look forward to defending myself vigorously, and this represents the beginning of the process of not only establishing my innocence but also shedding light on the circumstances that led to my unjust detention." Ghosn, 64, told the Nikkei newspaper last month that Nissan executives opposed to his plans for closer ties with automaking partner Renault SA had plotted to remove him. Ghosn was widely credited with rescuing Nissan from near-bankruptcy after he was brought over to Japan in 1999 by Renault after the French automaker bought a chunk of Nissan.

Cheapest SUVs of 2024

There is no doubt that cost is the number one decision maker when it comes to purchasing a vehicle. As prices continue to climb, affordable choices are getting harder to find, so we dug through what's available to find the least expensive SUVs in the most popular classes.  These prices are current as of January 2024, using available manufacturer suggested retail prices for 2024 models wherever possible. The prices include destination fees, but not dealer markups or incentives. Cheapest small SUV: 2024 Hyundai Venue Not surprisingly, the most affordable SUVs are the smallest. There's a whole host of subcompact SUVs out there, with some of the first introduced being the Nissan Juke, Mini Countryman and Kia Soul. In the beginning, these micro utes were marketed to empty nesters and first-time buyers, but nowadays they represent an alternative to the conventional sedan and have been increasing market share ever since. Profit margins in this class are narrow and popularity is high, which means the entrants are competitively priced. The top choices in the class are only a couple thousand dollars more than the most affordable alternatives below, so it may make sense to consider our favorites that include the Mazda CX-30, Volkswagen Taos and Chevrolet Trax. 2024 Hyundai Venue: $21,135 The Hyundai Venue debuted in 2020 and earned praise for its overall value. You get a ton of features for the money as well as a very generous warranty. Holding it back is its rather weak engine and very tiny proportions. Honorable mentions: 2024 Chevrolet Trax: $21,495 2024 Kia Soul: $21,565 Cheapest midsize SUV: 2024 Chevrolet Equinox Compact SUVs have the broadest appeal thanks to a very diverse group. It seems as though there's a great pick for nearly every taste, whether you're seeking something sporty, rugged or luxurious. They're a great pick for small families with one child and/or a dog. The class is led by vehicles that include the Honda CR-V, Kia Sportage and Mazda CX-50, which are still within reach of most shoppers' budgets. 2024 Chevrolet Equinox: $27,995 The Equinox debuted back in 2005 and this current third-generation was last redesigned in 2018, though a new one is right around the corner for the 2025 model year. While the current 2024 model may be showing its age, it still deserves your consideration for its comfortable ride quality, confident cornering and roomy passenger space.

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.