No, here's a better idea. Nissan stays Nissan but they create a new brand like Toyota did with Scion. And, they call it Datsun. The mission of the new Datsun, build small, sporty cars that are retro inspired, get good gas mileage and are all rear wheel drive. Here's the line up:
The Roadster. A two seat convertible styled after the Fairlady roadsters that preceded the Z car. More minimalist than a Miata, no power folding hard tops, power windows or mirrors. Just an honest, fun and light sports car.
The Truck. A real mini pickup, sized like the last of the Hardbody pickups. Give it a six foot bed, a regular or super cab, and make sure that it's tough as nails. The sport truck guys are starving for something fun to drive and reasonably priced, plus all the projected fleet sales would be a big bonus.
The 510. Yes, bring it back. Coupe, sedan and wagon versions should all be available. Sized like the real deal, just updated for today's market. It's gotta look like a 510, handle like a 510 and most importantly, be factory raced like a 510.
Bean counters and enthusiasts will rejoice if the Roadster and 510 share the same fully independent suspension front and back and give the Truck the same front suspension with a typical solid rear with leafs. Four cylinder engines for all, no sixes for options, just a turbo on the sportiest versions. All start off with a base line, then a sport which gives you a better suspension and wheels and a top of the line which is the sport with a turbo engine. No paddle shifters or tipronic BS, just an honest 5 or 6 speed manual and an optional automatic on the base and sport lines (not available on the turbo).
Retro styling for all vehicles for the first generation with retro advertising (Datsun Saves, Drive a Datsun and Decide, etc). This puts Datsun back in all the Nissan dealerships where they won't overlap any existing products and can cash in on the existing goodwill and name recognition the brand still enjoys after decades of being off the market. Keep prices low and offer dealer installed options like Scion. Throw some free vehicles to noted tuners and customizers so they show up at Sema, drifting events, custom car shows and get a ton of free PR.
How is this not a winning idea? People are cutting back, gas prices are rising and classic Japanese cars are gaining attention. Nissan needs to try something new, target some new markets and build some niche vehicles that will garner some very positive press for them.
In return for these awesome ideas, I only ask for a tour of the plant they build them in and a free Roadster. Nissan can PM me for details on where I want to take delivery of my car.