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Nissan CEO Uchida says he's willing to be fired if turnaround fails

YOKOHAMA — Nissan's new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan's second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. Makoto Uchida, who took over the top job in December, put his job on the line at the automaker's shareholders' meeting, where he faced demands ranging from cutting executive pay to offering a bounty to bring Ghosn back to Japan after he fled to Lebanon. Nissan's worsening performance has heaped pressure on Uchida, formerly Nissan's China chief who became its third CEO since September, to come up with aggressive steps to revive the company. On Tuesday, Uchida, who was repeatedly heckled by shareholders, said he was ready to face dismissal if he failed to improve profitability at the company, which is on course to post its worst annual operating profit in 11 years. "We will make sure that we steer the company in an effective way so that it is visible in the eyes of viewers. I will commit to this: if the circumstances remain uncertain you can fire me immediately," he said. Uchida, 53, did not give a timeframe for improving Nissan's performance. The new boss must prove to the board he can accelerate cost-cutting and rebuild profits at the 86-year-old Japanese giant, and that he has the right strategy to repair its partnership with France's Renault, sources have told Reuters. Uchida pleaded with shareholders to be patient while he comes up with a plan by May to recover from crumbling profits and a corporate shake-up following Ghosn's arrest in Japan in late 2018 over financial misconduct charges. "If you can be patient a little bit longer, on a day-to-day basis you will be able to sense we are changing," he said. Ahead of the meeting, some shareholders demanded more clarity about Uchida's plan. "I just want to know what the plan for recovery is. At the moment, the share price has dropped again, and the value of the company has plummeted," said a 70-year-old former employee who owns shares in the company. "If this is the situation, part of me thinks that we would be better off with Ghosn ... If we don't get a clearer vision of the path the company is taking, it will be a worry." Nissan's shares are trading around their lowest level in more than a decade following its latest earnings.

Mitsubishi teases Ralliart concept for Tokyo Auto Salon

Rumors have been circulating that Mitsubishi will be doing some interesting things with its performance-oriented Ralliart brand. And it has launched some special variants in some overseas markets with the name, but that doesn't seem to be the end of it. Next month at the Tokyo Auto Salon, Mitsubishi will show a Ralliart concept car. The company released a single teaser image of the concept, and it has us feeling optimistic. It shows a huge rear diffuser with a simple and stylish Ralliart badge attached. Unfortunately, that's about all we can see. So there's no way of knowing what kind of vehicle is attached to it. Could it be a fancy show car we've never seen before, or a way sportier version of a current model? At least one rumor suggests the concept could be based on the Outlander PHEV. It would certainly make some sense to revive Ralliart with a popular model such as the Outlander, not to mention one that's completely new and representative of where the brand is headed. The PHEV would be an interesting choice for performance, and we'd be curious what Mitsubishi would change to make it sportier. Bigger electric motors would be very appealing, but a more minimal set of upgrades such as suspension and brakes would be more likely. The Ralliart concept won't be the only concept on display from Mitsubishi, though. The company will also show an electric kei car, which is a car of extra-small proportions for a special class of cars in Japan. As such, there's no way it will make our way to the U.S., but it could still be a neat little machine to see. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Mitsubishi previews new Attrage global sedan

It's been about a month since we first saw the Mitsubishi Concept G4 at the Shanghai Motor Show, but now the automaker has revealed the first images for the sedan in production trim. Wearing the Mitsubishi Attrage nameplate, this sedan will go on sale this summer in Thailand and could eventually makes its way to the US. Despite being essentially a sedan version of its subcompact Mirage, Mitsubishi refers to the Attrage as its next-generation global compact sedan, suggesting it's a fair bit larger than its hatchback counterpart.
We only have this single image to go on, but the new Attrage obviously has the same overall look as the Concept G4. As expected, it does lose some of the more conceptual bits, including the fancy headlights, grills and wheels. While the styling has us thinking back to the late 1990s, the true advantage of the Attrage is likely to be its fuel consumption. US fuel economy for the Attrage hasn't been released, but the closely related 2014 Mirage is expected to return 37 miles per gallon in the city and 44 mpg on the highway using the same 1.2-liter inline four-cylinder engine paired with either a five-speed manual or a continuously variable transmission. Scroll down for the brief press release for the Thai-built Attrage.