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2014 Mitsubishi Mirage to carry $12,995 price tag*

If you've only got about twelve grand to spend on a car and you want something new, you've got options, but not many: You can get a Nissan Versa sedan for $11,900, a base Chevrolet Spark hatchback for $12,170, or - as Mitsubishi has just announced - a 2014 Mirage for $12,995.
Not only does that make it one of the cheapest new cars you can buy, but Mitsubishi also claims it's "the most fuel-efficient gasoline-powered non-hybrid vehicle in America," carrying an EPA highway fuel economy rating of 44 miles per gallon. But then that rating is for the CVT model, which will cost you an extra grand over the base five-speed manual version. The bog-standard DE model comes with features including automatic climate control, keyless entry and seven airbags, but for another $1,200 (with either transmission) you can upgrade to ES trim with a whole mess of other features. Regardless of which model you choose, though, you'll have to pay an extra *$725 for delivery ($920 if you live in Alaska or Hawaii), elevating the actual cost of entry to $13,720 in the Lower 48.

Mitsubishi boss says US operations may break even next year

Mitsubishi has lost money in its North America operations every year since 2007, but in an interview at this week's Tokyo Motor Show, company president Osamu Masuko said, "If things keep going well, it might be the case that we break even this year," Automotive News reports.
A little context: Last month Mitsubishi predicted that it would lower its operating loss in the region to 4-billion yen ($40.7 million) by March 31, the end of the fiscal year, well below the previous fiscal year's operating loss of more than five times that amount. Reflecting that, production at the Japanese automaker's sole North American factory in Normal, Illinois, has grown to 56,630 vehicles through October, compared to 27,339 through the same period last year.
The plant makes the Outlander Sport for the US and for export to markets such as Russia, the Middle East and Latin America. Interestingly, out of the 56,630 Outlander Sports built at the Illinois plant through October, only 20,150 were sold in the US.

Carlos Ghosn's arrest casts doubt on future of Renault-Nissan alliance

For years, France's Renault and Japan's Nissan struggled to make money in the global auto business. Then came Carlos Ghosn, a Renault executive who helped to orchestrate an unprecedented transcontinental alliance, combining parts of both companies to share engineering and technology costs. Now Ghosn's arrest in Japan for alleged financial improprieties at Nissan could put the nearly 20-year-old alliance in jeopardy. Ghosn, 64, born in Brazil, schooled in France and of Lebanese heritage, is set to be ousted this week from his spot as Nissan chairman. He could also lose his roles as CEO and chairman of Renault, threatening the alliance formed in 1999 that's now selling more than 10 million automobiles a year. He's been "the glue that holds Renault and Nissan together," Bernstein analyst Max Warburton wrote in a note to investors. "It is hard not to conclude that there may be a gulf opening up between Renault and Nissan." In fact, Nissan's investigation into alleged misconduct by Ghosn is expanding to include Renault-Nissan finances, sources told Reuters — in a further sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance. Nissan told Renault's board on Monday it 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 said. Renault's board planned to meet Tuesday to discuss Ghosn's fate. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," French Finance Minister Bruno Le Maire told France Info radio, calling on Renault's board to meet "in the coming hours" to set up an interim management structure. The French government owns 15 percent in Renault and has a say in its operations. Nissan's board is to meet Thursday to consider Ghosn's fate. Nissan has said it will dismiss Ghosn after he was arrested for allegedly abusing company funds and misreporting his income. That opens up a leadership void at the entire alliance, for which Ghosn officially still serves as CEO and chairman. Ghosn added Mitsubishi to the alliance two years ago after the tiny automaker was caught in a gas-mileage cheating scandal. Renault owns 43.4 percent of Nissan, which owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in Mitsubishi Motor Corp.