In a joint statement released the same day, Honda acknowledged that it proposed to divert from its original intention of forming a joint holding company to one where "Honda would

With the Nissan-Honda merger officially dead, Nissan is now moving forward with its own restructuring plan.That means deep job cuts, plant closures, and a more aggressive approach to development cycles as the company attempts to regain stability.

CEO Makoto Uchida could very well fall on his sword: "If everybody says we no longer need Uchida-san,” the head of Nissan told reporters, "please fire me.”