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Nissan to open new studio in Beijing

After last week's announcement of leadership changes at Nissan's North American and European design centers, Nissan Investment Co., Ltd (NCIC), a Nissan subsidiary in China, today revealed plans to expand its global design resources with the establishment of a new design studio in Beijing. "With the addition of 20 designers, Nissan's new studio will enhance our design capabilities, as well as our product competitiveness in China and Asia where the automotive industry continues to see robust growth," said Shiro Nakamura, chief creative officer and senior vice president of design and brand. "Locating the studio where our customers live and work allows us to best respond to their needs and design vehicles that exceed their expectations." Scheduled to open early in 2011, the studio in the Chao Yang district of Beijing will be the first design facility in China established by a Japanese automaker.

European new car sales in record LOW

European new car registrations have plunged to their LOWEST level on record after slow August sales reversed an upturn in July. Registrations of 7,841,596 new cars between January-August 2013 marked a new low for the European new car market of 27 countries – so few cars have never previously been recorded since records began in 1990. 2013 UK new car sales forecast revised upwards European new car sales continue to struggle The UK new car market is the sole exception: so far this year, new car registrations have risen 10.4%, compared to the European decline of 5.2% in the same time period.

Wiedeking to be offered $140 million to quit Porsche, report says

Porsche CEO Wendelin Wiedeking could be offered a $141 million (100 million euros) payoff to quit the sports car maker to make way for a merger with Volkswagen, Germany's Sueddeutsche Zeitung newspaper reported Friday. The newspaper said Wiedeking has been visited by Porsche Chairman Wolfgang Porsche in the past few days, who “made it clear” that the embattled CEO should step down. Wiedeking has come under fire for allowing Porsche's holding company to amass debts of more than $12.7 billion (9 billion euros) during a failed attempt to take over VW.