Mitsubishi Galant 2003 4door Sedan De on 2040-cars

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Court rejects Carlos Ghosn's request to attend Nissan board meeting

TOKYO — A Japanese court has rejected a request by former Nissan chairman Carlos Ghosn, released on bail last week, to attend the Japanese automaker's board meeting on Tuesday. Nissan dismissed Ghosn as chairman after his Nov. 19 arrest, but he remains on the board. The Tokyo District Court said it rejected Ghosn's request on Monday but did not elaborate on the reasons. It had been unclear whether Ghosn could attend the board meeting. The court's approval was needed based on restrictions imposed for his release on bail. The restrictions say he cannot tamper with evidence, and attending the board meeting could be seen as putting pressure on Nissan employees. Prosecutors had been expected to argue against his attendance. They were not available for immediate comment. Ghosn has been charged with falsifying financial reports in underreporting his compensation and breach of trust in making payments to a Saudi businessman and having Nissan shoulder investment losses. He insists he is innocent, saying the compensation was never decided or paid, the payments were for legitimate services and Nissan never suffered the losses. Since his release on March 6 from Tokyo Detention Center on 1 billion yen ($9 million) bail, he has been spotted taking walks in Tokyo with his family, but he has not made any comments. His attempt to exercise what his lawyer, Junichiro Hironaka, called his "duty" by attending the board meeting signals one way he may be fighting back. Hironaka has said Ghosn will speak to reporters soon. A date for a news conference has not been announced. Nissan said Monday that Renault Chairman Jean-Dominique Senard, Renault Chief Executive Thierry Bollore, Nissan Motor Co. CEO Hiroto Saikawa, and Osamu Masuko, the chairman and CEO of Mitsubishi Motors Corp., will hold a joint news conference Tuesday after the board meeting. Nissan appears determined to highlight new leadership without Ghosn. It is part of an alliance with Renault SA of France, and more recently with Japan's Mitsubishi Motors, that was largely cobbled together by Ghosn, who led Nissan for two decades. Nissan, which makes the March subcompact, Leaf electric car and Infiniti luxury models, has denounced Ghosn for alleged misconduct. A decision at a shareholders' meeting is needed to remove Ghosn from the board. A shareholders' meeting is scheduled for next month.

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.

Mitsubishi's first US chairman since 2007 charged with revitalizing brand

Have a look at Mitsubishi North America's vehicle page and you'll find seven cars in four model lines: i-MiEV electric hatch, Lancer sedan, Lancer Evolution and Sportback, Outlander and Outlander Sport, and Galant sedan. The Galant has 3.9 tires in the automotive grave, and the only hope for mainstream excitement, the Eclipse coupe and Spyder, had hemlock poured down their crankcases last year. Increasing the quotient of bleak, the Lancer isn't due for a refresh until 2014, the coming Outlander PHEV will sell in miniscule numbers when it does arrive, a little sports car has been nixed and the only other Mitsu being considered for our landmass is the Colt, which, for its stellar fuel economy numbers, looks like a car designed by Pikachu. There's also that matter of declining NA market share in a rising overall market, Mitsubishi's piece of the total pie currently hovering around the 0.4-percent mark according to Automotive News.
The company has decided to do more about it, reassigning Executive Vice President and Head Officer of the Headquarters Product Projects & Strategy Group Gayu Uesugi to be the new chairman of Mitsubishi Motors North America. It will be the first time in five years that someone has filled the chairman position at MMNA.
The hope is that with Uesugi's 35 years with the company, his experience in the company's global product plan and his success in emerging market strategy, he's the man to "[develop] a product plan and growth strategy for the US market" that will put things right. Or at least better. He will work with Yoichi Yokozawa, who has been CEO of MMNA since last year. There are more details on the move in the press release below.