The first reports from the Japanese media, emerging on Monday morning UK time, were dramatic enough: prosecutors had descended on Nissan’s corporate headquarters to question the firm’s chairman, Carlos Ghosn, on financial ‘irregularities’. But the speed at which events that will have a profound long-term impact on the industry unfolded throughout the rest of the day was simply extraordinary.

Normally, the large scale of major international car firms means that it can take time for the impact of major events to be felt: for example, look at how long it it took for the Dieselgate saga to play out at Volkswagen following the initial reports. But events at Nissan today (Monday) have taken place at a simply dizzying pace.

Nissan to oust boss Carlos Ghosn due to 'serious misconduct'

Within an hour of the first reports, Nissan issued a statement that it had contacted the Tokyo district public prosecutors office following an internal investigation sparked by a whistleblower – and that the evidence that investigation had unearthed against Ghosn and representative director Greg Kelly was serious enough for CEO Hiroto Saikawa to recommend the board remove both from their roles.

Within four hours of the first report, Saikawa was sitting in front of the Japanese media that had hastily assembled at Nissan’s Yokohama HQ, with numerous others (myself included) watching on via Nissan’s YouTube channel.