Finally, a chance for Ghosn to speak about his favorite topic: The value of the yen. Two years ago in Kyushu, Ghosn said that its valuation against the dollar and other major currencies was a crime against nature, a perversion. Back then, you got 77 yen to the dollar, and I assure you that 76 yen buy next to nothing. Ghosn called a high. The rise of the deviant was arrested. In the following year, the yen turned around, fainthearted first, then, with honest Abe getting behind the wheel in Japan, a dollar now buys 100 yen.

Ghosn does not want to hear talk of a “low “ yen. (Read More…)

Asked today at the annual results conference in Yokohama whether he wants to back off from his old target of putting 1.5 million EVs on the road by 2016, Nissan CEO Carlos Ghosn displayed an astounding degree of determination. He still believes in the 1.5 million. Maybe a little later than 2016.
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  Our last look at the Accord was back in September when we ran a two-parter (part 1, part 2) after being invited to the launch event. Yes, shockingly our invite wasn’t lost in the mail. As TTAC has said in the past, there are problems with launch events. Usually you’re running around in a […]

Nissan closed  the year in America with U.S. sales up by 10 percent, but that wasn’t enough to please Ghosn.  Said the CEO today in Yokohama:

“China was not our biggest disappointment last year. It was mainly the United States. We were expecting a strong year. It did not happen. We postponed it to 2013.” (Read More…)

In the early 1980s, as the economy continued to slump and gas prices soared, American car makers were desperate for a way forward. The good old days were gone forever. Under pressure from the Japanese, whose small cars had gone from rolling jokes to serious, high quality competition in little more than a decade, the big three knew they needed to make a radical departure from their traditional approach before it was too late. Although some of the more stodgy cars would soldier on and continue to sell to members of the Greatest Generation well past their expiration dates, for the rest of us the future was a smaller, lighter and more efficient. The winds of change were blowing and even the Ford Mustang felt the chill.

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Nissan is the largest of all Japanese automakers in China, and therefore has the most to lose. With about a quarter of its global sales in China, Nissan has the highest exposure to the ups and downs of the Middle Kingdom. When  Chinese rioted in the streets, overturned Japanese cars and torched their dealerships , Nissan was beaten hard.  At one point, sales of Nissan cars were cut in half.

Recently, the situation has improved a bit. Nissan’s April sales in China even booked a slight increase over April  2012. A month and a couple percent do not make a trend. Says Ghosn: (Read More…)

Naming a car is tricky business. We know this because after years of challenging design work, engineering efforts, focus groups, and meetings that probably involved colorful PowerPoint presentations, Subaru named its first midsize SUV “B9 Tribeca.” Speaking of which: designing a car is tricky business.

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“Self-driving sounds like it’s going to do something you don’t want it to do. Autopilot is a good thing to have in planes, and we should have it in cars.”

According to Elon Musk, what we have here is… failure to market effectively.

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Bosch has introduced a home charging point for EVs that costs half as much as current competitors, which will no doubt be welcome news for current and prospective EV buyers.

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If any carmaker is hoping for an imminent turn-around in Europe, or is telling shareholders (I am looking at you, GM) that better times will be here again real soon now, then Nissan’s CEO Carlos Ghosn has a bucket of ice-cold water for them.

“Europe is going to be bad,” Ghosn predicted today in Yokohama. Ghosn also serves as CEO of Renault, a company that is taking major lumps in a market that has been careening south for five years in a row now.  One would assume that a man in his position paints a rosier picture. Instead, Ghosn’s pallet is all gloom.

Ghosn knows what is on the mind of the European customer: (Read More…)

More than any other country, Canadian-built vehicles seem to have an inordinate amount of foreign parts content, according to a study done by Scotiabank Economics.

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If you wanted to have a ten minute advantage (for placing those jumbo derivatives order into the mainframe of your hedge fund) before Nissan’s annual results for the last fiscal were announced in the newly redecorated meeting room on the 8^th floor of their Yokohama headquarters, all you had to do was read the smiling faces of Nissan’s top lieutenants. Executive VP Andy Palmer was all grins. (Read More…)

Of all the racing venues I visit during my travels as Chief Justice of the 24 Hours of LeMons Supreme Court, the ritzy clubs tend to be the weirdest. We went to the Monticello Motor Club in New York a few weeks back, and twice a year the LeMons Traveling Circus rolls into the Autobahn Country Club in Illinois. The reaction of the members, who must navigate the madness of the LeMons pit scene as they drive their GT3s and Facel-Vegas to the clubhouse, runs the gamut from loathing to delight. Most of the time I ignore these guys— I always feel like we’re caddies in the pool in that setting— but as the owner of an A100 I just had to talk to the owner of this truck that showed up at the 2012 Showroom-Schlock Shootout. (Read More…)

I have two interests that are often in conflict with one another. One is my love of the automobile. The second is urban planning. Recently, I was reading a response piece to the notion that the car will become the next cigarette, or a similar “socially unacceptable vice”. Derek Kreindler wrote the following in his response: (Read More…)

Tesla Motors, Inc. released its first quarter financial results yesterday, which featured a number of milestones for the auto maker. Among them, Tesla’s revenue rose 83% from the last quarter to $562 million, a record high for the company.

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