Following the £700 million fine recently handed down to Audi for selling cars rigged to cheat on diesel emission tests the motor car sector continues to underwhelm with news that Carlos Ghosn, chairman of the Renault-Nissan alliance, which also includes Mitsubishi, has been sacked after being arrested on suspicion of under-reporting income of £34 million between 2011 and 2015, to cut his tax bill. Also arrested and sacked was senior Nissan executive in the US Greg Kelly, 62, on suspicion of collaboration in the fraud.

Ghosn, 64, enjoyed corporate superstar status in Japan since he turned Nissan around from near-bankruptcy in 1999.