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Nissan is exploring the sale of its 34% stake in Mitsubishi

TOKYO — Nissan is looking to sell some or all of its 34% stake in Mitsubishi Motors, Bloomberg News reported on Monday, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault. Nissan shares rose 5% on the news. Mitsubishi Motors was up 3%. "There are no plans to change the capital structure with Mitsubishi," a Nissan company spokeswoman told Reuters in an emailed statement. A Mitsubishi Motors spokesman said the same, adding the company would continue to collaborate within the alliance. Renault did not immediately respond to an email seeking comment. Nissan, struggling to recover from the pandemic-induced downturn, could sell its stake to a Mitsubishi group company such as Mitsubishi Corp, which already owns a fifth of Mitsubishi Motors, Bloomberg said. Such a deal would fundamentally alter a three-way partnership built by Carlos Ghosn, former chairman of the alliance, which plunged into confusion when he was arrested in 2018 on charges of financial misconduct. Ghosn had wanted a full merger of Renault and Nissan, which was shelved, according to Reuters sources, as the companies decided to fix the troubled alliance. The pandemic has, however, compounded problems and made a recovery hard. Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China. Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year. Both companies are cutting production levels and costs in a bid to return to profitability. Related Video:

FCA-Renault merger faces tall odds delivering on cost-cutting promises

FRANKFURT/DETROIT — Fiat Chrysler Automobiles and Renault promise huge savings from a mega-merger, but such combinations face tall odds because of the industry's long product cycles and problems translating deal blueprints into real world success, industry veterans told Reuters. BMW's 1994 purchase of Rover, and Daimler's 1998 merger with Chrysler both made sense on paper. The companies promised to hike profits by combining vehicle platforms and engine families. Both combinations proved unworkable in reality, and were unwound. Renault and Nissan, which have been in an alliance since 1999 designed to share vehicle components, have only managed to use common vehicle platforms in 35% of Nissan's products despite an original target of 70%, according to Morgan Stanley. FCA and Renault have raised the stakes for themselves by ruling out plant closures. That increases the pressure to achieve more than $5 billion in promised annual savings from pooling procurement and research investments. The two companies have yet to fill in many of the blanks in the merger plan put forward by Fiat Chrysler. Renault's board is expected to act soon to accept the proposal, but that would lead only to a memorandum of understanding to pursue detailed operational and financial plans. A final deal and the legal combination of the two companies could take months to complete if all goes well. Pressure to cut automotive pollution is driving the latest round of consolidation. Automakers are looking at multibillion-dollar bills to develop electric and hybrid cars and cleaner internal combustion engines. Fiat Chrysler and Renault are betting they can design common electric vehicle systems, then sell more of them through their respective brands and dealer networks, cutting the cost per car. Developing all-new electric vehicles can bring more opportunities to share costs from the outset, industry experts said. "With the emergence of connected, autonomous, electric and shared vehicles, carmakers face immediate investments, so new opportunities for sharing costs have emerged," said Elmar Kades, managing director at Alix Partners. However, most electric vehicles lose money. This is a challenge for city car brands in Europe in particular. Both Renault and Fiat rely heavily on this segment for sales.

2016 Nissan Altima gets SR model, 39 mpg, 3 press releases [w/video]

UPDATE: After taking exception with Seyth's reaction to press-release overdose, a Nissan spokesperson commented,"It gets 39 mpg. That's ******* epic." The Mazda 6, rated 40 mpg highway, is the only car among the Altima's peers to do equal or better. (See a full list of gas-powered non-hybrid cars that do 39 mpg highway or better here.) It seems that Nissan just can't stop selling its hot Altima midsizer. At least, that's what the bullet points of the press release for the new, 2016 version of the car tell me. The model has seen five consecutive years of sales growth, occasionally hitting the 30,000-per-month figures that heavies like Camry, Accord, and Fusion regularly nab. And, as we all know, a key to keeping midsize sedans fresh is the mid-cycle refresh. Here we have it. Nissan has reshaped the front and rear of the Altima to better match the look of its handsome new Maxima. That means a deep-v wrought in chrome on the front fascia, new (optional) LED headlights that look like reverse check marks, and a lower bumper that mirrors the shape above it. There are new taillights, bumper, and trunk lid for the rear of the car, too. You'll likely have to stare at the pictures pictures of the posteriors on the old and new cars for a few minutes (as we did) to pick them out, but they're there. The press release says so. Changes to the interior are subtle. We spotted a new center stack, and new cup holders next to the gearlever. Your weird friend Brian who hosts the Altima Altimatics fan forum could probably lend more detail here, but the non-enthusiast eye sees a mild rethinking of a nice interior. The excellent Zero Gravity front seats are still standard on all trims, which is probably half the reason Nissan is selling so many of these things. (How did that not make the bullet points, guys?) Change is more evident in the new-for-'16 Altima SR trim. The lighting profile is different for the model's most athletic variant, with smoked lenses, daytime running lights and revised fog lamps. More importantly, the SR gets its own suspension setup, revised dampers, stiffer front and rear stabilizers, and a more aggressive wheel/tire package. Nissan also offers drivers the ability to paddle-shift the SR's CVT transmission. The SR grade can be had with either Altima engine option. As for the motivating forces behind Altima's new nose, well, they're mostly the same.