Nissan: Gt-r Premium on 2040-cars

Auto blog

Nissan Leaf resale value expected to take a hit

Nissan Leaf resale values may take a tumble, according to Kelley Blue Book. The vehicle evaluation resource said the 2013 Nissan Leaf will retain around 35 percent of its MSRP after three years; that's down five percent from what KBB gave the 2012 Leaf at the end of 2011. Automotive News reports KBB adjusted the EV's residual value prediction because the used transaction prices for the 2011 model have stuck around 35 percent for the past few months due to relatively cheap gasoline, not to mention the fact that Nissan trimmed the electric's MSRP from $36,050 to $29,650 before the $7,500 tax credit.
Since used buyers are often motivated by more practical buying concerns than early adopters or those wanting to curb their carbon emissions, they may not be willing to pay more for an EV. Meanwhile, early Leaf models are now coming to auction, abandoned by rental car companies after customers shunned them in favor of traditional internal-combustion vehicles. Many of those at auction have less than 10,000 miles and carry an average transaction price of just $13,700.

Nissan may take control of struggling Mitsubishi Motors

Update: The reports were largely correct. Nissan will take a 34 percent stake in Mitsubishi for roughly $2.2b. Read all about it here. Reports say Nissan will buy a controlling stake in Mitsubishi Motors, either 30 or 34 percent, for about 200 billion yen or $1.84 billion. Nissan and Mitsubishi motors are currently part of a joint venture, NMKV, to build minicars together. Nissan is also responsible for reporting fuel-economy discrepancies with cars built under the joint-venture agreement, which put Mitsubishi in its current weakened state. Earlier today, reports surfaced that the fuel-economy issues were wider ranging than originally thought. Mitsubishi now admits that all of its Japanese-market cars sold since 1991 could have had faked fuel-economy data. Shares of Mitsubishi Motors have dropped by about half since the scandal was uncovered, opening the door for a takeover. While Nissan is a much larger company, it can benefit from Mitsubishi's 60-percent share of Japan's minicar market. The two companies also had plans to build electric vehicles together in the joint venture. Japan's Nikkei reports that talks are ongoing between the company and that a decision could be made Thursday by the companies' boards. Related Video: News Source: Nikkei Green Mitsubishi Nissan

Renault, Nissan and Hyundai face shutdowns in India over workers' COVID fears

CHENNAI, India — Automakers Renault, its alliance partner Nissan and Hyundai face temporary factory closures in India due to growing unrest among workers concerned about rising COVID-19 infections. Workers at Renault-Nissan's car plant in the southern state of Tamil Nadu will go on strike on Wednesday because their COVID-related safety demands have not been met, a union representing the workers told the company in a letter on Monday. Hyundai said it would suspend operations at its plant, also in Tamil Nadu, for five days starting Tuesday, after several workers staged a brief, sit-in protest on Monday amid rising cases in the state. "The management agreed to close the plant after workers expressed concerns over safety after two employees succumbed to COVID," E. Muthukumar, president of the Hyundai Motor India Employees Union, told Reuters. The unrest highlights the challenges companies face in India amid a huge wave of COVID-19 infections, an overwhelmed health system and a shortage of vaccines which is making employees more fearful. Tamil Nadu is one of the worst hit states with more than 30,000 cases a day last week. The state, an auto hub known as India's Detroit, has imposed a lockdown until May 31 but allowed some factories, including auto plants, to continue operating. The strike threat at the Renault-Nissan plant came ahead of a court hearing on Monday over allegations from workers that social distancing norms were being flouted and factory health policies did not sufficiently address the risk to lives. Renault-Nissan has said it is following COVID-19 safety protocols. At the hearing, a lawyer for the workers argued that while the company had reduced the number of shifts, production numbers had not been cut and the headcount remained the same leading to crowding on the factory floor. The company told the court it had reduced the workforce to around 5,000 from 8,000. It also said it had vaccinated employees over 45 and was willing to inoculate those under 45 if vaccines were made available. The two-judge bench presiding over the case said that while the health of workers is paramount, if industries go down there will be no place for them to work. They also said the company must not take advantage of the exemption granted by the state and should reduce production to meet only necessary export orders. "The production should have fallen ... You also have to assuage the feeling of the workers," said the court, which will next hear the case on May 31.