Word: nissan
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...Japan, putting your company on the acquisition block is so shameful that the expression for it--miuri--means "selling your body." So it must have been excruciating last month for Yoshikazu Hanawa, president of Nissan Motor Co., to publicly offer for sale a controlling interest in Japan's second largest automaker. What must have been even more humiliating is that when Nissan's suitors looked under the hood, they became even less interested in this clunker, with its $22 billion in debt and a lineup of flashless cars. The word around the car industry is that the $49 billion company...
Whoa. Just a decade ago, Nissan was synonymous with Japan Inc., the business goliath that was devouring America. The auto company's fuel-thrifty sedans and zippy 240Z sports car put the fear in Detroit long before the Toyota Camry or Honda Accord ever saw a drafting table. Nissan's success gave weight to the myth that Japanese companies were run by enlightened executives who worked in frictionless synchronicity with workers to produce superior cars. In his best-selling book The Reckoning, David Halberstam suggested that U.S. industry, namely the Ford Motor Co., would be consigned to a never-ending...
...plentiful petroleum. As the price of crude oil falls, the prices of lightly taxed American gasoline (and other petrochemicals) follow suit. Car buyers, with the incentive of bottom-dollar gasoline, snatch up large, gasoline-inefficient automobiles-particularly sport utility vehicles-in increasing numbers. John Schutz, Nissan's director of research and development, said on CNN Interactive, "As long as gasoline is cheap, there will be demand for gas guzzlers." This, of course, encourages auto makers to produce SUVs, which they've done in ever-increasing numbers...
...industry is left asking--just as it did last year when Daimler-Benz and Chrysler forged the world's largest industrial marriage--which companies will be next? There is talk that DaimlerChrysler has eyes for debt-ridden Nissan. But Japanese automakers have been reluctant to sell more than a minority stake to foreign partners. Toyota remains a respected global player but has suffered along with the economies of all the Asian countries. Similarly, General Motors remains the world's largest automaker, with lucrative foreign alliances, but was set back by last year's strike...
...traces to the early 1990s with Dodge trucks, but the movement got a power boost from Viper and Prowler roadsters. Then came the wildly popular "new" Volkswagen Beetle. Last week the floodgates opened, as automakers unveiled models like a revived Chevy Impala, a new Dodge Charger and even a Nissan Z concept, modeled after the sporty Datsun 240Z of the 1970s...