2007 Mitsubishi Eclipse Gs on 2040-cars

Auto blog

Carlos Ghosn was on verge of release — so prosecutors file new allegation

TOKYO — Japanese prosecutors added a new allegation of breach of trust against Nissan's former chairman Carlos Ghosn on Friday, dashing his hopes for posting bail quickly. Ghosn and another former Nissan executive, Greg Kelly, were arrested Nov. 19 and charged with underreporting Ghosn's income by about 5 billion yen ($44 million) in 2011-2015. They also face the prospect of more charges of underreporting Ghosn's income for other years by nearly 10 billion ($80 million) in total. The breach of trust allegations were filed a day after a court rejected prosecutors' request for a longer detention of both men. The new allegation only applies to Ghosn, and Kelly could still be bailed out. A request for bail by Kelly's lawyer is pending court approval, according to the Tokyo District Court, but his release will have to wait until next week since the request was still in process after office hours Friday. Prosecutors in a statement Friday alleged that Ghosn in 2008 transferred a private investment loss worth more than 1.8 billion yen ($16 million) to Nissan by manipulating an unspecified "swap" contract. Ghosn also profited by having the company transfer a total of $14.7 million to another company to benefit himself and that company's owner, who helped in the contract manipulation, prosecutors said. Shin Kukimoto, deputy chief prosecutor at the Tokyo District Prosecutors Office, refuse to say if the two transactions were related or how Ghosn illegally profited. He also declined to identify the collaborator or whether the transactions were made overseas. Ghosn and Kelly are only charged with underreporting Ghosn's pay over five years, in violation of the Financial Instruments and Exchange Act. They have not been formally charged with an additional allegation of underreporting another 4 billion yen ($36 million) for 2016-2018, for which their first 10-day detention was to expire Thursday. Prosecutors have been criticized for separating the allegations as a tactic to detain Ghosn and Kelly longer. They say Ghosn and Kelly are flight risks. The maximum penalty for violating the financial act is up to 10 years in prison, a 10 million yen ($89,000) fine, or both. Breach of trust also carries a similar maximum penalty. The conviction rate in Japan is more than 99 percent for any crime. Ghosn was sent by Renault in 1999 to turn around Nissan, then on the verge of bankruptcy, and he led its rise to become the world's second-largest automaker.

Mitsubishi reveals Delica D:5 off-road van and 'concept' crossovers ahead of Tokyo Auto Salon

It's easy to forget Mitsubishi still makes some cool vehicles. If you look past the mirage however, you'll find vehicles like the Delica D:5 van. Mitsubishi is on its way to the Tokyo Auto Salon with a concept version of this Delica, alongside an Outlander PHEV and Eclipse Cross, with both SUVs claiming the name "Street Sport." We're all weird, so it stands to reason that the off-road-looking Delica D:5 excites us the most. While the normal Delica D:5 is now more of a van with SUV ride height, this one comes with a full suite of plastic body cladding for protection around the front and rear of the van. A heavy-duty roof rack and row of LED lights up top give it the roof of a true overlander. Some bars on the sides and bright red mud flaps hint even further that this should be taken off the pavement. What Mitsu doesn't talk about is an upgraded suspension. Granted, the Delica D:5 already looks lifted and ready for some moderate trail work, but a full-on rock crawler van would have been epic. The standard all-wheel drive system with four-wheel drive lock will have to do for now. For cars sold in the states, Mitsubishi brought some tarted-up versions of the Outlander PHEV and Eclipse Cross. Both SUVs feature similar design language, as they try to look sportier than their powertrains give away. Yellow accents along with blacked-out everything and some stickers are really the selling points here. Meaning, there isn't much, if anything, to get excited about with these "concepts." They're more sticker packages than anything, and don't give us much hope for anything fun coming stateside. For now, all we have are the individual pictures of each car. More will come once they officially break cover at the Tokyo Auto Salon in January. Related video:

Mitsubishi profits in North America for first time in seven years

Well, this is a change of pace. Mitsubishi has actually made some money in North America. It's the company's first operating profit in seven years, and while it might only be $4.18 million – yes, Mitsubishi made less in 2014 than some professional athletes – it's definitely a start. Sales in the US were up 19 percent between January and March, to 32,000 units, while 2014's overall sales jumped 21 percent to 117,000 units, Automotive News reports. Perhaps more impressively, the company is predicting a bountiful 2015, with sales up to 128,000 units and operating profits climbing to $58.5 million. If Mitsubishi is doing this with cars like the ancient Lancer and the awful Mirage, we should probably expect some good things when newer, more competent vehicles like the new Outlander hit dealers.