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Nissan CEO Makoto Uchida rules out closer capital ties with Renault

YOKOHAMA — Nissan is committed to its automaking alliance with Renault but will not look to deepen its capital ties with the French automaker any time soon, its new CEO said on Monday. On his first day in the new position, chief executive Makoto Uchida also pledged to repair profitability at Japan's No. 2 automaker and said setting realistic targets would be key toward that goal, as it tries to make a clean break from the leadership of former chairman Carlos Ghosn. "Closer capital ties with Renault are not a focus in the short term," he told reporters. Uchida became CEO of Nissan on Dec. 1, as the car maker tries to recover from a profit slump and draw a line under a year of turmoil after the Ghosn scandal. The ousted chairman is fighting financial misconduct charges in Japan. One of the new CEO's big tasks is to salvage ties with Renault, which have deteriorated since Ghosn's ouster as chairman of both companies. Renault holds a 43.4% stake in Nissan after it saved the Japanese automaker from financial ruin two decades ago, and has pushed for the two companies to merge. In rejecting a notion of a merger with Renault, Uchida, 53, echoes his predecessor Hiroto Saikawa, who stepped down in September. He added that the alliance must re-think how it can serve all of its three members, which also includes Mitsubishi Motors. "The alliance has to benefit each of its partners in terms of revenue and profit," he said. "We need to re-evaluate what has worked and what hasn't worked in the alliance in the past few years." The CEO called for Nissan to set "challenging but achievable" targets, adding that this and the launch of more new car models and vehicle technologies would be key to its financial recovery. Nissan is bracing for its lowest annual profit in 11 years and has slashed its dividend by 65%. Its struggles come at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. "Somewhere along the way we created a culture of setting targets which could not be achieved," Uchida said, adding that this had resulted in a focus on short-term results. "Years of this had led Nissan to its current "difficult situation," he said, using heavy vehicle discounting in the U.S. market as an example of how aggressive sales targets to grow market share had deteriorated the company's brand.

Mitsubishi's all-electric Pikes Peak challengers are in it to win it

With a second-place finish already in the books from 2012, there's only one thing on the minds of Mitsubishi drivers Hiroshi Masuoka and Greg Tracy: winning. As the presenting sponsor for the 2013 Pikes Peak International Hill Climb, there's no doubt the Japanese manufacturer is hoping for a good showing this year, and the video you'll see below explains how Mitsubishi changed things this year to help ensure a win... basically, more power and more downforce.
Winning in 2013 certainly won't be easy. With competitors that include Nobuhiro "Monster" Tajima and Rod Millen, who's driving for Toyota, winners in 2012 in the Electric class. Our own Jonathon Ramsey sat down and spoke with the boys from Mitsubishi, and found that, if not for the over-the-top presence from Peugeot, the the all-electric MiEV Evolution II (which may be a sort of test-bed for potential Lancer Evolution-of-the-future components) may even be capable of challenging for the overall victory.
Their target: nine minutes and thirty seconds. We'll see how close they get later this afternoon. Scroll down below to watch the video.

Mitsubishi teases next-generation Triton small pickup truck

Though Mitsubishi stopped selling pickup trucks in the U.S. in the '90s, the company never stopped selling them overseas. The Triton, or L200 as it's sometimes called, is in its fifth generation, which was introduced in 2014. Now it seems a sixth generation is on the way, as the company released a low-resolution teaser image of the latest pickup. It features many styling cues from recent Mitsubishi production and concept vehicles. It also probably isn't coming to America, but the odds of a U.S.-spec may actually be better than you might think. The teaser gives us a pretty good look at the new truck, despite the image quality and lighting. It has the "Dynamic Shield" front end, which is pulled straight from current models such as the Eclipse Cross and Outlander. The aggressive shape looks good on this larger body, as it's a little better proportioned when spread across the greater surface area. It looks like the whole body is sharp and angular to match it. But it's still definitely a conventional-looking pickup truck. Since this will be sold in many overseas markets where traditional trucks with traditional off-road capability is necessary, this will undoubtedly be a body-on-frame pickup with part-time selectable four-wheel drive. This is how the current model is constructed. And like the current model, there will likely be a turbocharged diesel four-cylinder available in many parts of the world. There's not much of a chance the new Triton will come to the U.S., but it's also not a 0-percent chance. The small truck market is strong right now, with the Toyota Tacoma and the combined Colorado/Canyon twins selling in six-figure numbers each year. It's strong enough that Ford has seen fit to finally bring the Ranger back to America, and for rumors to run rampant that FCA might reenter the fray with a Ram-badged truck under the fullsize 1500. Mitsubishi's U.S. dealers have also said they really want a pickup truck to sell. Granted, there are still the issues of passing emissions and safety regulations, and finding a way to deal with the Chicken Tax. So there's certainly opportunity here for Mitsubishi, but not without some difficulty. Related Video: