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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.

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.

Mitsubishi off-road concepts head to Tokyo Auto Salon

While the focus on this side of the Pacific has been on CES and the Detroit Auto Show, over in Japan they're gearing up for the Tokyo Auto Salon. Most of the other Japanese automakers have already shown us what they have in store for the tuner expo, and now it's Mitsubishi's turn. This year, Mitsubishi will showcase two pairs of custom creations. They're all focused on the great outdoors, but two take more of an adventuring approach while the other two are geared towards camping. Two are based on the Outlander PHEV and the other two on the Delica D5 minivan. The Outdoor Gear concepts feature matte pearl white paintjobs with orange trim, black interiors with orange trim, and mesh fabric seats with grippy suede trim. The Outlander version rides on 20-inch wheels with off-road tires, a spoiler, and a bike rack on the roof. The Delica gets a carbon-style front bumper, LED daytime running lights, brush guards, and 16-inch wheels. The Active Camper concepts feature 20-inch wheels and matte silver paint with a black camo pattern – a treatment which continues inside. Here the Outlander features a new body kit, adjustable suspension, a roof box, and 1,500 watts of auxiliary power. The Delica version features a sportier grille, brush guards, and a convertible cabin space with room for two. They'll be displayed alongside a replica of the Outlander PHEV rally machine which Mitsubishi is fielding at the Baja Portalegre 500. But these are just some of the goodies in store for the Tokyo Auto Salon this year, which promises all the JDM action you could shake a carbon-fiber stick at. The doors open at the Makuhari Messe in Chiba City on Friday and will stay open through the weekend. Featured Gallery Mitsubishi at 2016 Tokyo Auto Salon News Source: Mitsubishi Tokyo Auto Salon Mitsubishi Crossover Minivan/Van Concept Cars Off-Road Vehicles mitsubishi delica