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Nissan to slash jobs, production after forecasting $2.9 billion loss

Reversing his profit forecast to a loss, Nissan Motor Co. CEO Carlos Ghosn entered crisis mode on Monday. Ghosn announced plans to slash 20,000 jobs, cut production by 20 percent, scale back model launches and delay new factories.

Porsche Panamera Sport Turismo Concept

This is the Porsche Panamera Sport Turismo Concept – a Porsche Panamara Shooting Brake Hybrid – headed for a Paris 2012 debut. There have been rumours for some time that Porsche was going to build a shooting brake version of the Panamera -we reported it would be at Paris 2012 back in July – and on the eve of the Paris Motor Show we get the proof – the first photos of the Porsche Panamera Sport Turismo Concept. The Panamera Sport looks like it’s got some sort of hybrid powertrain, although we have no details yet from Porsche.

Toyota's quake-hit Yaris plant offline for at least another month

Toyota's quake-hammered Miyagi assembly plant, which makes the Yaris small car for export to the United States, is expected to be offline for at least another month. Workers have completed repairs at the factory and restored electricity, but the facility cannot get supplies of natural gas, a person familiar with the situation said. The assessment underscores the long road facing Toyota and other Japanese automakers in bringing plants back into full operation following the deadly quake, which killed more than 11,000 people, ruptured gas lines, shutdown electric grids and snarled logistics across half the country.