Mitsubishi Eclipse Spider Convertible on 2040-cars

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PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan

Carlos Ghosn's son predicts surprises at ex-Nissan chief's day in court

PARIS — The son of former Nissan chairman Carlos Ghosn said in an interview published Sunday that people will be surprised when his father, detained since Nov. 19 for allegedly falsifying financial reports, recounts his version of events to a Tokyo court on Tuesday. Anthony Ghosn, 24, told France's Journal du Dimanche that his father — who will remain detained until at least Jan. 11 — will get 10 minutes to talk at the hearing, being held at his own request. "For the first time, he can talk about his version of the allegations against him," Anthony Ghosn said in the interview with the weekly paper Journal du Dimanche. "I think everyone will be rather surprised hearing his version of the story. Until now, we've only heard the accusers." The son has no direct contact with his father, and gets information via lawyers. He said his father, who for decades was a revered figure in the global auto industry, has lost about 10 kilograms (22 pounds) eating three bowls of rice daily, but he reads books and "he resists." Ghosn refuses to cave in, said his son, contending that he would be freed from detention if he admitted guilt to the prosecutor. "But for seven weeks, his decision has been quite clear ... He won't give in," Anthony Ghosn said, adding that he would be wearing prison clothes and handcuffs in court. Countering media portrayals, he insisted his father, a Brazilian-born Frenchman of Lebanese ancestry, is "not obsessed by money." "He always told us that money is but a means to help those you love, but not an end unto itself." Ghosn is charged with underreporting his pay by about 5 billion yen ($44 million) in 2011-2015, and faces a breach of trust allegation. He led Nissan Motor Co. for two decades and helped save the Japanese automaker from near bankruptcy. He remains head of France's Renault car company, which owns 43 percent of Nissan. Another Nissan executive, Greg Kelly, was arrested on suspicion of collaborating with Ghosn on the underreporting of income and was freed Dec. 25 on 70 million yen ($635,600) bail after more than a month in detention.Related Video:

2014 Mitsubishi Mirage

This could have been something great. Last fall, Mitsubishi slapped its triple-diamond badge on a dainty little hatchback called Mirage, offering plenty of functionality and 44 miles per gallon on the highway, all starting at a super-low $12,995. For budget shoppers, this seemed to be a good thing - not to mention a much-needed breath of fresh air for the company's waning US automotive arm.
I will fully admit to being a bit harsh on the Mirage following its debut at the 2013 New York Auto Show, often making it the butt of jokes with my colleagues. But at the end of the day, I love cheap, basic, honest little cars like this, and I wasn't prepared to write off the Mirage until I spent some time behind the wheel. After all, on paper, a Mazda2 looks pretty unremarkable, and yet it's one of my favorite small cars to drive.
Much as I wasn't looking forward to putting my foot in my mouth, I was sort of hoping to feel the same way about the new Mirage. It's a bland package, but it could have been filled with the same spunky spirit and well-meaning composure of vehicles like the aforementioned Mazda, or even stuff like the Honda Fit or Chevy Spark and Sonic.