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Mitsubishi CEO vows to stay in US on heels of Suzuki's departure

By now, you're surely aware that Suzuki is pulling out of the US market. It was a bit of a foregone conclusion to most who've been paying attention to the automotive realm, but it still sent a small shockwave through the industry. And one of the most oft-heard retorts goes something like this: "Next up: Mitsubishi."
It's easy to understand why many question Mitsubishi's existence in the States. After all, now that Suzuki is gone, Mitsubishi is the Japanese automaker with the fewest sales in America. Furthermore, the automaker's market share has dropped from .7 percent to just .4 percent after seeing sales fall 29 percent to 50,103 units through October.
In any case, Mitsubishi fans needn't worry. Speaking to Automotive News, Mitsubishi President Osamu Masuko said, "We have no intention whatsoever of withdrawing from the US market." That's about as clear as clear can get. It's also worth mentioning that Gayu Uesugi was just named chairman of Mitsubishi Motors North America, and his main responsibility will be to revitalize the brand in the US.

Nissan's plan to supply US Mitsubishi dealers with family sedan stalls

Mitsubishi has quietly had some big success recently. The Japanese brand sold 77,643 vehicles in the US for all of 2014, a 24.8 percent jump over 2013. While still relatively small overall (Ford sold 74,355 F-Series trucks just in December, for example), it shows definite growth for the sometimes forgotten automaker. Unfortunately, the latest news might not help the company's future expansion. The proposed partnership of Mitsubishi and the Renault-Nissan Alliance on at least one midsize sedan for the US market is off the table, according to Automotive News. The company informed sellers that the collaboration had fallen through during a National Automobile Dealers Association meeting. "I told them that the plan has stalled," said Don Swearingen, executive vice president of Mitsubishi Motors North America, to Automotive News. "And I said that's really all I can tell you at this time." Under the original partnership, Mitsubishi was supposed to get a D-segment sedan that would have been built at the Renault-Samsung factory in Busan, South Korea. The automakers were also negotiating for Mitsu to get a C-segment four-door as a global model and developing an electric kei car for Japan together, due in 2016. While the sedan is gone, Mitsubishi isn't completely bereft of improved products in the pipeline. The Mirage Sedan is being launched in the US, and the Outlander is supposed to get a redesign for the 2016 model year. According to Automotive News, the Outlander Sport and Lancer are also due for refreshes in 2016, and a new Mirage is on the way.

Nissan shareholders oust Carlos Ghosn from board of directors

TOKYO — Nissan's shareholders approved on Monday the ouster from the Japanese automaker's board of its former chairman, Carlos Ghosn, who is facing allegations of financial misconduct. The approval, which was expected, was indicated by applause from the more than 4,000 people gathered at a Tokyo hotel for a three-hour extraordinary shareholders' meeting. Other votes had been submitted in advance. Ahead of the vote, Nissan's top executive apologized to shareholders for the scandal at the Japanese automaker and asked them to approve Ghosn's dismissal. Chief Executive Hiroto Saikawa and other Nissan executives bowed deeply in apology to shareholders attending the extraordinary meeting at a Tokyo hotel. Shareholders also approved the appointment of French alliance partner Renault SA's Chairman Jean-Dominique Senard to replace Ghosn. Renault owns 43 percent of Nissan. Senard, introduced to shareholders at the meeting's end, thanked them and promised to do his best to keep the automaker's performance on track. "I will dedicate my energy to enhance the future of Nissan," said Senard. The shareholders also gave a green light to removing from the board a former executive direct, Greg Kelly, who has been charged with collaborating with Ghosn in the alleged misconduct. Angry shareholders demanded an explanation for how wrongdoing on an allegedly massive scale had gone unchecked for years. The meeting was closed except to stockholders but livestreamed. One shareholder said Nissan's entire management should resign immediately. Saikawa said he felt his responsibility lay in fixing the shoddy corporate governance at Nissan first, and continuing to lead its operations. Another shareholder asked if Nissan was prepared for a damage lawsuit from shareholders since its stock price has plunged. "I deeply, deeply apologize for all the worries and troubles we have caused," Saikawa said. "This is an unprecedented and unbelievable misconduct by a top executive." He outlined the findings of an internal investigation, such as payments of a consultation fee to Ghosn's sister for 13 years. The investigation has also found too much power had been focused in one person, he said. Ken Miyamoto, 65, a Nissan shareholder, said he was disappointed. "It is really such a pity as he was a brilliant manager," Miyamoto said of Ghosn before heading into the meeting.