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Nissan To Buy Mitsubishi For $2.2B | Autoblog Minute

Nissan confirmed this week that it would take a controlling interest in troubled Japanese automaker Mitsubishi. Nissan will buy 34% of Mitsubishi for $2.2B. Mitsubishi Nissan Autoblog Minute Videos Original Video

Junkyard Gem: 1995 Mitsubishi Diamante Station Wagon

Chrysler sold Dodge- and Plymouth-badged Mitsubishis in the United States starting in the early 1970s, but it wasn't until the 1983 model year that Mitsubishi sold cars under their own name on this side of the Pacific. The Diamante made its American debut for the 1992 model year, but it proved unable to steal many sales from the likes of Lexus and Infiniti and not many were sold. Sure, it was big and comfortable, but SUV and minivan sales soon squeezed most wagons out of the American marketplace. Here's a rare '95 station wagon, spotted in a California yard recently. 240,664 miles on the clock, which is much higher than the not-very-trashed interior might suggest. The owner or owners of this car got their money's worth out of it. The 6G72 3.0-liter V6 went into Chrysler minivans, Mitsubishi 3000GTs, and many members of the extended Chrysler K-Car family; production of this versatile engine continued well into our current century. This one was rated at 175 horsepower. Technically, this isn't a Japanese car, since the Diamante wagons were built in Australia. Rumor has it that some 5-speed Diamante wagons were sold in the United States, but I have never seen one. 1995 was the last year for the Diamante wagon in the United States, and the Camry and Accord wagons soon got the axe as well. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. US-market Diamante ads went for a gauzy-focus Infiniti Q45-ish look. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Meanwhile, Japanese-market Diamante ads got roaring engines, macho voiceovers, and dramatic music. Related Video: Featured Gallery Junked 1995 Mitsubishi Diamante Station Wagon View 14 Photos Auto News Mitsubishi Wagon Classics

Renault-Nissan goes for closer cooperation, outsells VW and Toyota

PARIS — Renault-Nissan plans to double cost savings to nearly $12 billion by 2022, partly through closer cooperation with Mitsubishi, but left key questions about the automakers' alliance unresolved. Chairman Carlos Ghosn has pledged to step up the pace of integration after Nissan took a controlling stake in Mitsubishi last year. The 18-year-old Renault-Nissan pairing has only recently begun rolling out cars on common architectures. Combined sales volumes are expected to rise to 14 million vehicles by 2022 from 10.5 million expected this year, with revenue advancing by a third to $240 billion, the alliance said at a news conference in Paris on Friday. However, any investors impatient for a new capital or management structure to speed integration and prepare Ghosn's succession were likely to be disappointed. There was "no answer from Ghosn on the possibility of a merger by 2022," Jeffries analyst Philippe Houchois noted.12 NEW ALL-ELECTRICS Ghosn has been seeking a new second-in-command, sources told Reuters in June. But such plans are linked to thornier questions about the balance of power between the two main carmakers and the French government's outsize clout as Renault's biggest shareholder, supported by double voting rights. Twelve new pure-electric models will be on the road by 2022 as Renault-Nissan seeks to defend the head-start it gained with the current generation of battery cars, spearheaded by the Nissan Leaf and Renault Zoe, as more competitors join the fray. With 5.27 million cars and vans delivered in the first half of the year, Renault-Nissan now claims the mantle of the world's biggest carmaker, ahead of Volkswagen and Toyota, even though Renault has never consolidated the sales of its 43.4 percent-owned Japanese affiliate into its own. Under existing plans, the alliance is seeking to increase synergies — from cutting costs and boosting revenue — to 5.5 billion euros next year from 5 billion recorded in 2016. SHARED PLATFORMS A fourth common vehicle platform will be shared across the alliance by 2022, the companies said on Friday, underpinning a future generation of electric cars which, together with hybrids, are expected to account for 30 percent of group sales. Renault-Nissan will aim to deliver more electric vehicles and also make greater use of shared technology and manufacturing processes.