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TOKYO – Renault Group and Nissan have agreed on a basic framework for rebalancing their decades-old alliance in which Renault will reduce its controlling stake in Nissan to 15 percent from 43 percent, while Nissan will take a share in a new electric vehicle spinoff from Renault.

In joint statements on Monday, Nissan and Renault said the proposal was still subject to approval by their boards and that a formal announcement will come "immediately" after approval.

People familiar with the long-running talks, which began early last year, said the final structure of the deal was expected to go before the boards for review and approval as early as this week.

An announcement could happen as early as Feb. 6. 

"The ambition is to strengthen the ties of the Alliance and maximize value creation for all stakeholders," the companies said.

Under the proposal, Renault will reduce its 43 percent stake in Nissan to 15 percent, matching the 15 percent s…

TATESHINA, Japan — When cruising along at 40 mph on a sheet of super-slick ice, it pays to have an ultraresponsive vehicle stability system that won't skate you right off the road.

Nissan's new e-4orce all-wheel-drive technology, offered in the new Ariya electric crossover, keeps the driver in control, even in situations like this, thanks to its sophisticated software and motor setup.

On a recent test of the system on a frozen lake, high in the snow-draped mountains of central Japan, an e-4orce-equipped Ariya sprung quickly off the start with zero slippage, braked with ease in an unwavering beeline and proved nearly impossible to fishtail on an icy skid pad.

The all-electric awd system debuted last summer and is so far deployed in only two nameplates — the Ariya and the Japan-market X-Trail. But expect to see more of it as Nissan Motor Co. positions e-4orce as one of the killer apps in its coming wave of electrified vehicles.

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Nissan Motor Co., citing high battery material costs, warned dealers on Sunday that U.S. supplies of the Ariya crossover, a flagship electric vehicle, will be limited this year.

The Japanese automaker, during a make meeting at NADA, also announced plans for a wave of new EV and gasoline models it hopes will boost U.S. market share to more than 6 percent in fiscal 2023 from 5 percent last year. Nissan expects a 19 percent increase in production in 2023 vs. 2022.

The Ariya was slated to launch in mid-2021, but COVID-related chip shortages delayed it. U.S. deliveries began late last year.

The new halo model is critical to Nissan's effort to reclaim its position in a segment it pioneered with the launch of the electric Leaf hatchback more than a decade ago.

Availability and affordability of the Ariya were on dealers' minds at the meeting Sunday, with many of the roughly 200 retailers in attendance wanting to know why they aren't receiving more units…

Mitsubishi Motors dealers are expecting better vehicle supply this year from the automaker amid strong demand. They're also getting new vehicle trims for 2023, but no new models.

Mitsubishi Motors North America had its make meeting Sunday at the 2023 NADA Show in Dallas.

"What we heard today was a very positive plan for us to keep market share and grow market share," said Richard Herod III, chairman of the Mitsubishi National Advisory Board.

"What I see is distribution of those vehicles to be greater this year than last year and a stabilization of our inventory," said Herod, managing partner at White Bear Mitsubishi in White Bear Lake, Minn.

The automaker's U.S. sales last year slipped 16 percent to 85,810, leaving dealers with more customers than cars.

"Dealers are still very hungry for product," Herod said. "We finally are starting to have a good supply of the Outlander on the ground. Dealers are selling every single Mirage, Outlander S…

Hyundai and its dealers celebrated major market share gains in 2022 and discussed the company's next big moves at the NADA make meeting on Sunday.

The brand ended the year with 5.2 percent market share, up from 4.9 percent at the end of last year, according to data from Motor Intelligence.

Kevin Reilly, chairman of the Hyundai National Dealer Council and owner of Alexandria Hyundai in Alexandria, Va., said its success is due in part to Hyundai's investment in its product lineup.

The Korean automaker's early push into the electric vehicle market with the Ioniq 5 help capture a large chunk of EV shoppers. Its other "eco-friendly" vehicles –the Kona EV and electrified variants of the Tucson and Santa Fe crossovers as well as Sonata and Elantra sedans – also have enjoyed strong sales.

"Everybody's very excited. There was a lot of applause there in terms of the market share gains and the profitability that we've been able to achieve as well," Reilly …

Are dealers' good times coming to an end?

Dealers fear the optimal economic conditions that propelled them to three straight years of robust profits are further eroding.

And though demand for both new and used vehicles is strong, we are seeing and hearing more about how the dynamics of said demand have changed. Thanks to inflation and higher interest rates, cash-strapped buyers are no longer willing and able to entertain paying as much for a used vehicle as a new vehicle.

Franchised dealers are seeing evidence of that. Their concerns about this evolved sales environment take center stage in our print issue this week.

Automotive News conducted its 2023 Dealer Outlook Survey in January. A large majority of the 264 dealers and dealer managers who participated in it — 70 percent of respondents — said higher interest rates are their top worry. A potential recession and vehicle affordability tied for the next most-concerning factor, with about 42 perc…

SAN FRANCISCO -- The board chair of Tesla Inc. defended CEO Elon Musk in a securities fraud trial on Friday, telling jurors that she would have quit as a director if she had thought Musk lied by tweeting in 2018 that he had "funding secured" to take Tesla private.

Tesla Chair Robyn Denholm is a defendant in the lawsuit alongside Musk, Tesla and other directors. Investors allege they lost billions of dollars because of Musk's Aug. 7, 2018, tweets that he had "funding secured" and "investor support confirmed" to take Tesla private at $420 per share, which was a premium of about 23 percent to the prior day's close.

Tesla's stock initially surged and then fell as it became clear that the buyout would not happen.

At the time of the tweets, Denholm led Tesla's audit committee, which oversees company controls meant to ensure compliance with securities law.

She took the stand for around 30 minutes on Friday, saying that she would have quit if she had tho…

The Kodiak Robotics CEO and co-founder discusses economic headwinds facing the autonomous-driving industry, how his company is positioned to avoid them and the timeline for deploying driverless trucks in commercial service.

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Lithia Motors Inc. appears a step closer to entering the United Kingdom, which would be the auto retailer's second international market and a continuation of its geographic diversification, according to a recent report.

Sky News on Jan. 23, citing sources, said Lithia is "within weeks of finalizing a deal to buy" Jardine Motors Group for around $371.4 million. Sky News reported that the deal remains under discussion.

Lithia CEO Bryan DeBoer told Automotive News in Dallas last week that the company doesn't comment on acquisitions until a deal is complete.

However, DeBoer said Lithia has been looking for the right partner in the U.K. and in Western Europe for nearly half a decade.

"We hope to be there in the next few quarters or so," he told Automotive News.

Jardine Motors, part of conglomerate Jardine Matheson Holdings, is Europe's 23rd-largest dealership group by annual revenue, according to the Automotive New…

Supply constraints that have suppressed vehicle inventories for two years appear to be easing, meaning dealerships soon may have more vehicles on the ground. More choices will mean heightened competition, so some dealerships introducing newer employees to the fundamentals of selling.

At industry confabs over the past five years or so, we've heard powertrain experts proclaim that the internal combustion engine isn't dead yet.

General Motors affirmed that outlook this month with plans to invest nearly $1 billion in four engine plants that will produce the automaker's sixth-generation small-block V-8. Some electric vehicle components will also be made at those plants.

GM, for now, says it is also sticking with the quiet, smooth-running 3.0-liter inline turbodiesel engine that is optional in its big pickups and SUVs.

You might think this investment at the dawn of the modern electric era — when buyers are finally warming up to EVs, range is improving and prices are falling — would be a foolish way to spend hundreds of millions of dollars. You would be wrong.

Big pickups and SUVs are still more practical (and profitable) with a gasoline or diesel engine than with an electric powertrain.

Example: A 2023 Chevrolet Silverado wi…