1998 Mitsubishi Eclipse Spyder Conv. Low Miles 28-32 Mpg Below Book Value on 2040-cars

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Renault board names Ghosn stand-ins, as tensions with Nissan increase

PARIS/TOKYO — French carmaker Renault tapped its chief operating officer and a senior board member to fill in for embattled boss Carlos Ghosn, after an investigation by alliance partner Nissan led to his arrest on suspicion of financial misconduct. Thierry Bollore, Ghosn's operational second-in-command, will become deputy chief executive, while lead independent director Philippe Lagayette assumes the function of interim chairman, Renault said after a board meeting late on Tuesday. But the board refrained from firing Ghosn while awaiting more detail on the allegations — in a decision that could also buy more time for an accelerated, permanent succession process. "Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer," Renault said in a statement. "During this period, the board will meet on a regular basis under the chairmanship of the lead independent director." Ghosn, one of the car industry's best-known leaders, was arrested on Monday after Nissan said he had engaged in years of wrongdoing, including personal use of company money and under-reported earnings. The Japanese company plans to remove him as chairman on Thursday. The French government, Renault's biggest shareholder, had begun to distance itself from Ghosn, calling for new interim leadership before the meeting, as the Japanese investigation expanded to include Renault-Nissan alliance finances. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," Finance Minister Bruno Le Maire said earlier in the day. "Renault has been weakened, which makes it all the more necessary to act quickly." Statements by Le Maire, Renault and its board all echoed French preoccupations over the future of the alliance first articulated by President Emmanuel Macron within hours of Ghosn's arrest on Monday. Following talks between Le Maire and his Japanese counterpart Hiroshige Seko on Tuesday, the ministers reaffirmed their "shared wish to maintain this winning cooperation." But in a sign that Nissan may now seek to loosen its French parent's hold on the partnership, the Japanese company informed Renault it also had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter told Reuters.

Junkyard Gem: 1991 Mitsubishi Mighty Max Super Max

While the Montero SUV sold well enough in the United States, Mitsubishi-badged pickup sales didn't quite measure up to those of their Toyota, Nissan, and Mazda rivals. Second-generation Mighty Maxes are hard to find, so this '91 in Colorado was worthy of inclusion in the Junkyard Gem canon. The ADX Florence Supermax federal prison is just 100 miles to the south of this self-service wrecking yard, but it opened several years after this truck was built. The garish lettering and striping has the look of a dealer-installed option package. Chrysler sold rebadged Mitsubishi pickups for decades, as the Plymouth Arrow and Dodge D-50/Ram 50. When Mitsubishi began selling vehicles under their own brand in the United States in 1982, the Triton pickup got the Mighty Max name. The Dodge Ram 50 always outsold its near-identical Mighty Max twin, but the debut of the all-Detroit Dakota in 1987 cut into Ram 50 sales; by 1995, truck shoppers who wanted a Mitsubishi pickup had no choice but the Mighty Max. After 1996, the Mighty Max was mighty gone. This one is quite solid and doesn't appear to have been wrecked, and the odometer shows a surprisingly low mileage figure for a 26-year-old Japanese pickup. The 2.4-liter 4G54 four-cylinder engine is gone, purchased by a junkyard shopper. This engine family went into everything from the Mitsubishi Galant to the Hyundai Sonata, not to mention the Chery V5. The sunroof has an aftermarket look, which fits with the SUPER MAX dealer-option theory. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mitsubishi trucks were pitched as cheap, cheap, cheap in the United States.

Nissan's purchase of Mitsubishi is officially official

After the company's announcement in May, the Nissan's purchase of a 34 percent stake in Mitsubishi is now official. The deal cost Nissan $2.3 billion, according to the Wall Street Journal, and brings Mitsubishi into the Nissan-Renault Alliance. The company explained that this new partnership will manifest itself in shared vehicle platforms and technology, joint purchasing, and shared manufacturing. Nissan also said that this purchase will make the company one of the three largest companies by volume in the world. Nissan also emphasized that Mitsubishi will very much be a partner in the current alliance with Renault. In addition, Carlos Ghosn, CEO of both Nissan and Renault, has been nominated to be the new chairman of the Mitsubishi board. With Ghosn at the head of the board, current Mitsubishi president and CEO, Osamu Masuko, will remain in his positions but Nissan's current chief competitive officer will join Masuko as co-chief executive officer at Mitsubishi. With these companies now working together, we'll probably start seeing more commonality between Nissan and Mitsubishi products here in the States. It would also be a great opportunity to get some of Mitsubishi's cooler products here. Perhaps Mitsubishi and Nissan will take our hint about the Delica. This article has been revised to clarify that Nissan Motors purchased the stake in Mitsubishi, not the Nissan-Renault Alliance, and to add the value of the purchase. Related Video: News Source: Nissan, Wall Street JournalImage Credit: Issei Kato / Reuters Mitsubishi Nissan Renault renault-nissan alliance