Search Result for : Nissan

Exports of passenger vehicle drop 1.51%; two-wheelers up 20% in FY18

The Dollar Business Bureau With focus of the industry shifting towards domestic market and lasting impact of GST refunds on exporters, the passenger vehicle exports from India dropped by 1.51% in 2017-18, witnessing a dip for the first time in the past seven years. In 2017-18 fiscal, 7.47 lakh units of passenger vehicles were exported as against 7.58 lakh units in the previous fiscal, as per the Society of Indian Automobile Manufacturers (SIAM). “This is the first decline in exports of passenger vehicles since 2010-11 when it declined 0.41%,” said Sugato Sen, Deputy Director General, SIAM. Citing the the reasons behind the decline in passenger vehicles export, Sen said that some key exporters have shifted their focus on the domestic market. In addition, the exporters ...

Nissan agrees to $98 million settlement for claims on Takata air bag inflators

The Dollar Business Bureau Nissan Motor Co., agreed to pay $97.7 million as claims settlement from consumer economic loss in the US. This is with regard to the recall of 4.4 million vehicles fitted with Takata air bags. Though Nissan claimed that it was ‘not admitting’ to a fault, the settlement is similar to the ones that other automakers were granted- ‘preliminary approval to settlements’ amounting to $553 million. In June, Subaru Corp, BMW AG, Mazda Motor Corp and Toyota Motor Corp had reached a settlement of $553 million, affecting 15.8 million vehicles with the faulty airbags. Ford Motor Co., and Honda Motor Co., have not agreed till date for a settlement on consumer electronic loss claims. There were at least 18 ...

Mahindra & Mahindra to enter electric car segment

The Dollar Business Bureau  Mahindra & Mahindra, jointly with its South Korean subsidiary SsangYong Motor, has announced its plans to develop a production platform for an electric Sport Utility Vehicle (SUV) by 2020.  Lack of public charging infrastructure in both India and South Korea is one of the many bottlenecks in the mass-adoption of electric cars, which is inevitably going to be the future of automotive companies. The move towards clean-fuel vehicles is slow but palpable across the global auto industry. Government subsidies for clean-fuel technologies has also incentivised growth in the electric vehicle segment.  In Mumbai, CEO of SsangYong, Choi Johng-sik, announced that it was diligently working with it's Indian parent company to roll out a new generation of electric cars.  In India, e2o and eVerito (sedan) are two of the electric vehicles manufactured by Mahindra & Mahindra. ...

Nissan India domestic sales increase 24.86% in Feb

The Dollar Business Bureau Indian arm of Japanese auto major, Nissan Motor Company, Nissan India reported an increase of 24.86% in its domestic sales at 4,807 units in the month of February compared to 3,850 units in the same month in 2016. The strong performance in sales in the given month is attributed to the ongoing growth in the sales of Nissan and Datsun brands in the country, such as Datsun redi-GO and Nissan Micra," Nissan said in a statement on Thursday. “Our growth story has been driven by the continued success of Datsun redi-GO,” said Arun Malhotra, Managing Director, Nissan Motor India. Under its Nissan and Datsun brands, the automaker sells vehicles across various segments in India such as hatchback, SUV, MUV and ...

Ghosn to step down as Nissan CEO; Saikawa to take over from Apr

PTI Japan's second largest automaker Nissan Motor Co on Thursday said its long-serving leader Carlos Ghosn will hand over the role of CEO to Hiroto Saikawa, a company veteran. After leading the company for nearly two decades, Ghosn, the Chairman and CEO of Nissan at present, will focus on the functioning of "recent expansion of the Renault-Nissan Alliance to include Mitsubishi Motors". Saikawa, currently the co-CEO of Nissan, will assume the position of Chief Executive Officer on April 1, 2017, the company said in a statement. "Ghosn will continue to serve as Chairman of the Board of Directors, and he will seek a renewal of his mandate at the company's general shareholders meeting in June 2017," it added. ...

Trump now threatens Toyota with big border tax

The Dollar Business Bureau  US President-elect Donald Trump has now targeted Toyota Motor Corp over its Mexican-manufactured car, threatening the Japanese car makers to pay “big border tax” if shipped Mexico-built cars to the US market. Earlier this month, Trump criticised General Motors (GM) and Ford Motor for manufacturing their vehicles abroad and shipping them to the US market.  The soon-to-be President had accused these companies of costing US jobs. Another Japanese car maker, Nissan Motor Co, could be at a bigger loss if Trump unveils any tax punishment. Nissan built its plant in Mexico over 50 years ago and now manufactures more than 800,000 cars. The company exports almost half of its production to the US, where it also has production plants. Japanese automakers produced ...

Nissan India sales surge 21% to 3711 units in Dec

The Dollar Business Bureau The Indian arm of Japanese auto maker Nissan Motor Company, Nissan Motor India, on Sunday reported an increase of 21% in sales in domestic market at 3,711 units in the month of December, compared to 3,065 units in the same month in the previous year. Furthermore, in the initial three quarters of the current financial year, combined sales of Nissan and Datsun witnessed an impressive growth rate of 50%, Nissan Motor said in a statement. Collectively, their sales growth rate was the second fastest amongst the car brands in India for the period April-December 2016 against the same period a year ago, it added. Arun Malhotra, MD, Nissan Motor India, said, “Nissan India achieved healthy sales in December by posting 21% year-on-year ...

Nissans Micra tops June export chart

The Dollar Business Bureau Japanese automobile maker Nissan, on Friday, revealed that its flagship model Nissan Micra topped the exports chart of June with shipment of 6,807 units. The shipped units were developed at Nissan’s Chennai facility. The new achievement shows Nissan’s position as a huge contributor towards Make in India, said the company. Since the beginning of its operations in 2010, the Chennai plant of Nissan exported over 6,20,000 cars, contributing about Rs 30,000 crore in foreign exchange. The major export destinations for Nissan Micra are Britain, Switzerland, Germany and Italy. The flagship model has been exported to over 100 countries. Backing on Micra, Nissan achieved record sales in 2015, making Micra as the top-selling Asian car brand across Europe. Expressing joy on achieving this milestone, Guillaume ...