Raw Japan
Slices of Japanese business, politics and life
Wanted: a hit Nissan product
Toyota is drowning in losses. Fiat is desperately seeking partners. Chrysler is bankrupt, and General Motors looks like it might be next.
In this environment, Nissan CEO Carlos Ghosn can’t be blamed for warning today of a second straight year of loss. Still, there’s no denying that Japan’s third-biggest automaker could be doing better if it weren’t missing one key ingredient: home-run products.
Data released yesterday offered a sobering reminder of that.
Last month, Nissan’s name disappeared from the list of Japan’s 10 best-selling cars as Honda’s new Insight hybrid snatched up fuel-conscious consumers in an ever-shrinking pie. The month before, Nissan had two models on the list — the Serena minivan and Note compact, ranked fifth and eighth. Now, the Serena has dropped seven places, behind, even, cars from smaller rivals Suzuki and Mazda.
Things are not much better in the United States, Nissan’s single-biggest market. Among passenger cars, its Altima ranks fifth. It’s above any offering from Detroit, but that’s little consolation when Toyota and Honda each have two cars outselling the Altima by miles.
Nissan and Renault: 10 years to celebrate?
Ten years ago today, French carmaker Renault bought a 37 percent stake in Nissan Motor for $5 billion, making a big bet in the debt-riddled Japanese company with the goal of one day becoming a major player in the global auto industry.
Ever since Nissan staged a spectacular turnaround in just two years, the Franco-Japanese union has been lauded as the only alliance that worked after many failed attempts by other automakers. The success story turned Carlos Ghosn, who has served as CEO of both companies since 2005, into one of the most celebrated and visible auto executives.
