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Mitsubishi scores record global operating profits

In the minds of many auto enthusiasts, Mitsubishi has become an afterthought. It has transformed from a company known for its turbocharged, all-wheel-drive rally machines into an automaker with a very boring lineup. Maybe we are being unfair, though. While the company doesn't have much of a performance presence anymore, the Japanese brand is doing quite well financially.
According to Reuters, Mitsubishi Motors had an operating profit of 123.4 billion yen ($1.2 billion) worldwide for the fiscal year that ended in March. That's twice as much as last year and a new all-time record for the Japanese automaker. It's even paying dividends to investors for the first time in 16 years, and its expected profit of 135 billion yen ($1.3 billion) in the new fiscal year matches a goal it had set for itself to achieve two years from now.
The automaker currently focuses much of its efforts on Southeast Asia, which accounts for about a quarter of its sales. It will put even greater attention there in the coming years with more local production, according to Reuters.

Mitsubishi Outlander PHEV delayed until early 2016 in US

The Mitsubishi Outlander Plug-in Hybrid has been a noteworthy success for the Japanese brand with over 33,000 sales sold worldwide as of the summer of 2014. Unfortunately, the electrified crossover has seen continual delays for its planned North American debut. The latest news about the model pushes back its launch even more. The Outlander PHEV now isn't slated to go on sale in the US until roughly April 2016, according to Mitsubishi North America Executive Vice President Don Swearingen in Automotive News. Dealers are clamoring for the plug-in hybrid crossover, though. "That is going to be a vehicle that really sets us apart from the competition," said Ryan Gremore, 2015 chairman of the Mitsubishi National Advisory Board, to AN. Multiple postponements have plagued the Outlander PHEV in arriving to the US. It was once rumored to launch here in the fall of 2014, but a battery shortage pushed the date to 2015. Subsequently, a California mandate to fit a sensor to monitor degradation of the lithium-ion batteries caused another delay until late 2015 or early 2016. In foreign markets, the Mitsubishi CUV plug-in offers a 12-kWh battery and electric driving range of about 30 miles. However once sales actually begin, the US version is supposed to be completely different with a retuned hybrid system, which could alter these figures. The styling and interior are also supposed to see a change, possibly like the attractively reskinned PHEV Concept-S from the 2014 Paris Motor Show.

Renault chairman dismisses reports Nissan wants to split from alliance

PARIS — Renault Chairman Jean-Dominique Senard said on Thursday there was a "real desire" within the top ranks of both companies for its alliance with Nissan to succeed, dismissing suggestions the partnership was on the rocks. Turmoil within the Franco-Japanese alliance, long dogged by internal rivalries, deepened following the November 2018 arrest in Tokyo of its architect and long-time boss Carlos Ghosn on charges of financial crimes, which he denies. Attempts to restore calm were dealt a fresh blow by Ghosn's dramatic flight from Japanese justice and a series of no-holds-barred allegations he has made from his refuge in Lebanon, including that he was the victim of a plot to oust him and that the alliance is now a "masquerade". Nissan has vigorously rejected Ghosn's stance, while both the Japanese firm and Renault have tried to rubbish suggestions their two decades old partnership is falling apart. "We have a board overseeing the alliance which is made up of people who are all extremely in favor of the alliance," Renault Chairman Senard told a briefing with reporters. "There is a common desire to associate our strategic plans and a real desire to make this alliance a success," he added, dismissing a report that Nissan was examining scenarios for a possible future outside of the alliance as "fake news." The 66-year-old declined to comment on anything related to Ghosn, adding: "I only think about the future." Renault shares were down 2% by 1123 GMT, underperfoming the broader auto sector which was down on news that Washington has threatened to impose tariffs on European car imports due to Europe's stance on Iran. Renault's French rival and Peugeot maker PSA Group also gave a flavor of some industry headwinds, reporting a 10% fall in its global sales last year as Chinese demand tanked. Renault is due to publish its 2019 global sales on Friday. JOINT PROJECTS Analysts see Renault-Nissan's cost-saving alliance as vital to both companies as the car industry battles a slowdown and huge investments in cleaner vehicles and automated driving, particularly as rivals PSA and Fiat Chrysler are merging to help meet these challenges. Renault held ultimately unsuccessful talks to combine with Fiat Chrysler last year, which Ghosn described at a Beirut news conference as a huge missed opportunity. Senard, who chairs the alliance's operating board, said on Thursday that once the partnership has been rebooted, other firms might potentially want to join.