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Unread 2016-05-11, 07:33 PM   #1
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Default Nissan to take controlling stake in Mistubishi?

Nissan may be prepared to take a controlling interest in Mitsubishi motors, capitalizing on the latter's recent devaluation as a result of a widespread fuel economy cheating scandal.


According to Nikkei Asian Review, Nissan is prepared to purchase 30% of the embroiled automaker for 200 billion yen ($1.84 billion).

Nissan's motivations extend beyond Mitsubishi's attractive price tag. The two companies are already engaged in a joint venture to build minicars for Asian markets (Japan, predominantly). It was Nissan who discovered the discrepancies in fuel economy testing which led to Mitsubishi's admission that it had been cheating.

Since, Mitsubishi has admitted that the cheating was far more pervasive and long-standing than previously thought, potentially affecting vehicles the company has sold dating back as far as 1991.

Despite rapid and significant devaluation of its stock in the wake of the announcement, Mitsubishi was expected to weather the scandal thanks to significant cash reserves. Nissan's cash injection would further mitigate the impact and likely boost confidence in the company's ability to bounce back.


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Unread 2016-05-12, 10:47 PM   #2
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Nissan pays $2.2b for 34 percent stake in ailing Mitsubishi

Carlos Ghosn of Renault-Nissan says merger will save billions in development costs.



Antti Kautonen
After news that Mitsubishi falsified its fuel economy data on every vehicle it has sold in Japan since 1991, and the tumble in the company's value that followed, the troubled carmaker has an unlikely savior. Today, Nissan has confirmed it will purchase over one third of Mitsubishi's stock, or 34 percent. The stake is valued at $2.2 billion.

Nissan is a natural partner for Mitsubishi, and since the fuel economy scandal escalated from discrepancies in the data regarding Mitsubishi-manufactured, Nissan-badged Japan-market vehicles, it makes sense for the company to sweep in and save the day. Nissan itself is partially owned by Renault, and Nissan has a 15 percent stake in the French automaker.

Mitsubishi's chairman, Osamu Masuko says that the merger was inevitable, that it "would have happened one day" anyway, according to the New York Times. Carlos Ghosn, chairman of both Nissan and Renault, is confident they will be able to turn Mitsubishi's fortunes around. "We have the track record to make it work", Ghosn said, referring to the Renault-funded rescue of Nissan in the early 2000s. Ghosn says making Mitsubishi a part of the Renault-Nissan alliance will save billions in development costs.
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Unread 2016-05-23, 07:21 PM   #3
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save that dying brand. time for a new evo!
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Unread 2016-05-23, 07:34 PM   #4
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Nissan doesn't have a good chassis for it, doubt they want to dump that into the brand
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Unread 2016-10-20, 09:19 PM   #5
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Nissan completes Mitsubishi acquisition; Ghosn takes the helm





Nissan has completed its acquisition of a controlling stake in Mitsubishi Motors, allowing the beleaguered automaker to join the Renault-Nissan Alliance as it moves forward from a fuel-efficiency exaggeration scandal.


Confirming recent reports, Nissan chief executive Carlos Ghosn has been nominated to serve as Mitsubishi's chairman alongside three other Nissan executives. Nissan's chief competitive officer, Hiroto Saikawa, has been appointed co-CEO, while chief performance officer Trevor Mann will become MMC's chief operating officer.

"We are committed to assisting Mitsubishi Motors as it rebuilds customer trust," Ghosn said in a statement. "This is a priority as we pursue the synergies and growth potential of our enlarged relationship."

The company expects the Renault-Nissan-Mitsubishi trinity to become one of the top three global automotive groups with combined sales around 10 million units for the year. The figure is close to the production numbers achieved by the current podium finishes including VW Group, Toyota and General Motors.

Nissan plans to take advantage of the acquisition to collaborate on joint purchasing, localization, factory sharing and common vehicle platforms. Ghosn predicts the partnership could bring benefits worth $231 million USD in 2017, rising to $577 million USD and beyond in the following years.

Nissan paid the equivalent of approximately $2.2 billion USD for a 34-percent stake in Mitsubishi.






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Unread 2017-03-14, 10:41 AM   #6
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Nissan, A Benevolent God, Is Remaking Mitsubishi In Its Own Image

Photo credit: Getty Images
Good morning! Welcome to The Morning Shift, your roundup of the auto news you crave, all in one place every weekday morning. Here are the important stories you need to know.


1st Gear: This Is How A Rebirth Begins
Last year, at the New York Auto Show, if you looked hard enough, you just might find the Mitsubishi stand. It was in the basement. Seriously, it was in the basement. When you got there, all you saw was a sad collection of would-be Toyota and Honda competitors that nobody seemed to want because everyone just wanted to buy Toyotas and Hondas. The once-proud maker of Monteros, Eclipses, and Evos was now reduced to a boring crossover thing, something else, and a forlorn Evo in the corner, ready to shuffle off this mortal coil as Mitsubishi geared up to kill it..








Clearly, Mitsubishi was in a bad way. But then Nissan swooped in, and bought a controlling stake in the company. And now Nissan is re-making Mitsubishi in its own image, according to Automotive News:
Nissan Motor Corp., the most international and diverse of Japan’s automakers, is increasing its stamp on new alliance partner Mitsubishi Motor Corp. though a new management shuffle that puts more foreigners and a woman into top executive slots.
The personnel changes, announced Tuesday, aim to align Mitsubishi’s management structure with that of its top shareholder and give it a broader outlook, Mitsubishi CEO Osamu Masuko said in a conference call. Mitsubishi will also bring onboard several Nissan executives.

And if you think it’s quite galling that an international automaker in this century would have a complete lack of women or those holding a non-Japanese passport, you’re right. Furthermore, Mitsubishi’s CEO issued a statement actually saying that the company had to “wean off from the seniority-based system.”
For those unaware, “seniority-based system” is usually the three-word collection that people scream at corporations when they want to terrify them. Promoting people because they are there, and not because they are good, is pretty much the definition of how you drive anything into the ground.
Nissan has its work cut out for it.
2nd Gear: Nissan’s Long-Time Design Chief Is Out






Speaking of Nissan, amidst all this corporate re-shuffling its long-time design head, Shiro Nakamura, is out, Automotive News says:
Karim Habib, the former head of design at BMW, has been named as global design chief for Nissan’s premium Infiniti brand. Alfonso Albaisa, currently the head of Infiniti design, has been promoted to senior vice president of global design for all of Nissan Motor Co.
Nakamura, 66, who currently serves as senior vice president and chief creative officer, will retire on March 31. Albaisa, 52, takes the reins the following day. Habib, 46, joins Infiniti on July 1.
And while it’s always great to have new blood, it’s a bit sad to see Nakamura go. During his 17 years at the top of Nissan design, the company’s come out with some of its boldest styling experiments yet. There’s been the Nissan GT-R, the 370Z (which had the courage to go smaller than its predecessor, rather than bigger), and the quirky Cube. These were all good cars that looked good as well. Damn.
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Unread 2017-04-10, 03:02 PM   #7
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Is Mitsubishi the Next Eagle? Nissan Ponders Joint Dealerships, Rebadged Renaults




With Carlos Ghosn out as Nissan’s chief executive, Hiroto Saikawa has some well broken-in shoes to fill as the brand’s new CEO. Only ten days into the job, Saikawa says he doesn’t want to stray too far from groundwork laid by his predecessor. However, both men face an interesting problem in deciding what should be done with Mitsubishi.
Ghosn loves a fixer-upper and has already decided to dedicate much of his time to bringing Mitsubishi back from the brink, now that it’s part of the Renault–Nissan Alliance. He managed to help Nissan out of its decade-long slump in the early 2000s, so perhaps he can do the same for Mitsubishi now. However, according to Saikawa, that’s going to involve carefully assimilating the struggling automaker into the greater alliance.
That could mean taking Mitsubishi by the hand and offering it European models wearing the three-diamond emblem.
Boosting Mitsubishi’s presence is an essential part of Nissan’s plan. While it is the master of producing affordable, utilitarian, and petite vehicles in Asia, ithas lost a lot of its clout in the North America. Mitsubishi sold 345,111 units in the United States during 2002 but only managed 96,267 deliveries in 2016. While that’s an improvement over recent years, it’s also nothing to brag about. Fortunately, the company hasn’t taken the same sort of beating globally.
“They are now a 1 million [unit] company,” Saikawa told Automotive News, referring to Mitsubishi’s global sales. “Easily they can grow to 1.5 million, hopefully 2 million. Having a partner [that is] a 2 million company is much better than having [one that is] a 1 million company … My first wish is that they should start growing, rapidly, and they should regain ground in the U.S. as soon as possible.”
When that sales growth occurs, odds are good that it will take place at joint dealerships. Saikawa claims that Nissan will likely take on Mitsubishi franchises whenever convenient, but what models will occupy those lots has yet to be decided.
We already know that Nissan has Mitsubishi in a production holding pattern as it attempts to figure out ways to share platforms among future models. The automaker already has an R&D team designated specifically for this task. However, Saikawa says that Nissan won’t simply hand over its current lineup.
It might allow Renault to do so, though.
Since the French automaker has no presence in America, it could theoretically rebrand a Renault Megane, Scenic, or Twingo as a Mitsubishi without any product overlap between the two Japanese brands.
Saikawa seems interested in focusing on the crossover fad by making use of Mitsubishi’s history as a builder of practical all-wheel-drive vehicles. He even likened the brand to Subaru — which is currently killing it in the North American market. Before the takeover, Mitsubishi was desperately trying to broaden its own crossover and utility lineup.
Regardless of how the alliance plans to position Mitsubishi, Saikawa is keeping the faith. “I believe they have a very strong future in the U.S. market,” he said.
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Unread 2017-05-01, 01:59 PM   #8
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Mitsubishi considers new pickup, sedan for US market




Nissan could use some of its own factory capacity to return Mitsubishi manufacturing to the US.
Mitsubishi has continued to release more details of its US revitalization strategy, which could include several new models and increased local production.

The brand's future in the US has been shrouded in doubts. After vowing in 2012 to double output from its Illinois assembly plant, the company quickly changed course and shuttered the factory by late 2015 despite growing US sales in recent years.
The company is now under the leadership of Trevor Mann, installed as its new chief executive after his former employer, Nissan, acquired a controlling stake in its scandal-afflicted Japanese competitor. The bailout raised concerns that Mitsubishi might be forced to scale back its US commitment to avoid overlap with Nissan, but the new chief executive actually plans to increase its presence in the country.
Speaking to Automotive News in a recent interview, Mann hinted that Mitsubishi is considering adding a new pickup and a sedan to its US lineup. The incoming models could be based on existing Renault-Nissan Alliance platforms, however, to minimize development costs. Plans to return Mitsubishi production to America will also presumably involve existing Nissan factories.
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"As we go forward and start to have common platforms, an alliance pickup platform would be quite an appropriate thing for us to do," he said.
Rumors point to a jointly-developed architecture that could underpin both the next-generation Nissan Navara (Frontier) and Mitsubishi L200 midsize pickups. Mann previously suggested the companies might also share a common platform when designing replacements for the Nissan Patrol (Armada) and Mitsubishi Pajero SUVs.

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Unread 2017-11-06, 09:29 AM   #9
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Next Mitsubishi Mirage to get Renault platform, new name?








Mitsubishi might resurrect one of its most storied nameplates.
The Mirage is the exception in Mitsubishi's SUV and crossover offensive. The pint-sized city car will return for at least one additional generation, and a recent report sheds insight into what we can expect from it.



British magazine Auto Express learned the Mirage (pictured) will morph into a Ford Fiesta-fighting model, which suggests it will grow in every dimension. Mitsubishi recently joined the Renault-Nissan group, so it is able to borrow the platform that will underpin the next-generation Clio scheduled to make its debut next year.

"Designing and building a bespoke platform is expensive, and the margins in the small car sector are smaller. So are we looking to use Renault and Nissan platforms in that segment? The answer is yes," affirmed Vincent Cobee, Mitsubishi's corporate vice-president and product planning head, in an interview with Auto Express.

Power will come from Renault's turbocharged three-cylinder gasoline engine, a unit also found in the smart fortwo and the Twingo, among numerous other models. Mitsubishi has previously hinted it wants to introduce an all-electric variant of the next-gen Mirage, too.

The magazine adds Mitsubishi might retire the Mirage name to signal the car's new positioning. Nothing is official yet, but the Colt nameplate used on over a dozen models between 1962 and 2012 could make a comeback.




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Unread 2017-11-14, 01:46 PM   #10
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Mitsubishi's CEO Is Open To A New Sedan And Truck For The U.S.





Mitsubishi's lineup in the United States is limited to the Mirage, Outlander, and Outlander Sport. Help is coming in the form of the Eclipse Cross and Outlander PHEV but sedans have largely been neglected.

In a recent interview with Automotive News, Mitsubishi CEO Osamu Masuko suggested that could change in the future as he still sees room for a sedan. However, the executive noted the company's strength comes from "SUVs and 4x4s" so that's where they are going to spend their resources.

Despite admitting a sedan isn't a huge priority, Masuko said becoming part of the Renault-Nissan Alliance has changed things and opened up new possibilities. The companies will begin using common platforms and powertrains after 2020 and the executive said "In that situation, I think there will be opportunities to introduce a Mitsubishi sedan in the U.S."

Masuko said there are no concrete plans for a sedan at the moment but he hinted any such vehicle "wouldn't be just a rebadge" as it would have a unique design and characteristics associated with Mitsubishi.

Given the popularity of pickups in the United States, Masuko was naturally asked about the possibility of offering one stateside. He said the company is focused on building smaller trucks for Asian and Middle Eastern countries but he would consider opportunities from within the Alliance. That could mean the company might eventually offer a version of the Nissan Frontier or Titan.
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