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Renault board names Ghosn stand-ins, as tensions with Nissan increase
Wed, Nov 21 2018PARIS/TOKYO — French carmaker Renault tapped its chief operating officer and a senior board member to fill in for embattled boss Carlos Ghosn, after an investigation by alliance partner Nissan led to his arrest on suspicion of financial misconduct. Thierry Bollore, Ghosn's operational second-in-command, will become deputy chief executive, while lead independent director Philippe Lagayette assumes the function of interim chairman, Renault said after a board meeting late on Tuesday. But the board refrained from firing Ghosn while awaiting more detail on the allegations — in a decision that could also buy more time for an accelerated, permanent succession process. "Mr. Ghosn, temporarily incapacitated, remains Chairman and Chief Executive Officer," Renault said in a statement. "During this period, the board will meet on a regular basis under the chairmanship of the lead independent director." Ghosn, one of the car industry's best-known leaders, was arrested on Monday after Nissan said he had engaged in years of wrongdoing, including personal use of company money and under-reported earnings. The Japanese company plans to remove him as chairman on Thursday. The French government, Renault's biggest shareholder, had begun to distance itself from Ghosn, calling for new interim leadership before the meeting, as the Japanese investigation expanded to include Renault-Nissan alliance finances. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," Finance Minister Bruno Le Maire said earlier in the day. "Renault has been weakened, which makes it all the more necessary to act quickly." Statements by Le Maire, Renault and its board all echoed French preoccupations over the future of the alliance first articulated by President Emmanuel Macron within hours of Ghosn's arrest on Monday. Following talks between Le Maire and his Japanese counterpart Hiroshige Seko on Tuesday, the ministers reaffirmed their "shared wish to maintain this winning cooperation." But in a sign that Nissan may now seek to loosen its French parent's hold on the partnership, the Japanese company informed Renault it also had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter told Reuters.
Junkyard Gem: 2003 Mitsubishi Diamante LS
Tue, Jul 17 2018While Chrysler started selling Dodge- and Plymouth-badged Mitsubishis in the United States starting with the 1971 model year, Americans couldn't buy new cars with the Mitsubishi name until 1983. Thirty-five years later, Mitsubishi is down to just four models on these shores, all of which cater to the lower end of the market. However, from 1992 through 2004, Mitsubishi tackled the luxury market with its Diamante big sedan. Here's a very rare second-to-last-model-year Diamante, spotted in a Denver-area wrecking yard. I have documented plenty of Mitsubishis during my junkyard explorations, but these late Diamantes have been tough to find (though I have spotted a Diamante wagon). Sales of this car weren't great given that Mitsubishi's name didn't exactly resonate with luxury shoppers. Not when there was a Lexus ES around that did the same thing with a proper premium badge and brand. Second-generation Diamantes sold outside of Japan were built in Australia. Mitsubishi got its money's worth with the 6G7 series of V6 engines, starting with the 1986 Galant and continuing in trucks to the present day. Endless Chryslers of the 1980s, 1990s and 2000s also received 6G72 power. This car has the DOHC 3.5-liter 6G74 version, rated at 205 horsepower. The interior is pretty nice, in its turn-of-the-21st-century manner, and the fact that this car has an ignition key means that it's probably an insurance total or a dealership trade-in. The nose shows evidence of a fender-bender, and that's enough to doom a forgotten luxury car like this. Next stop: The Crusher. Related Video: Featured Gallery Junked 2003 Mitsubishi Diamante LS View 20 Photos Auto News Mitsubishi Automotive History Sedan
The 2017 Mitsubishi Outlander Sport Limited Edition debuts in Chicago
Mon, Feb 6 2017The Mitsubishi Outlander Sport has been on sale with only a mild refresh since 2010. For 2017, Mitsubishi is injecting some much needed life into the crossover. A Limited Edition trim, or simply LE, will be fully revealed this week at the 2017 Chicago Auto Show. Like most of the automaker's products, the Outlander Sport LE packs lots of features into a compact and relatively affordable package. The LE trim sits directly above the base Outlander Sport ES and will set you back $21,995, though it's unclear if that includes destination. An alloy fuel door, black painted door mirrors and 18-inch alloy wheels, fog lamps, HID headlamps, a rearview camera and a Limited Edition badge are all included. The trim is available in any exterior color, but the interior of the Outlander Sport LE gets a special treatment. Red stitching on the steering wheel, shift knob, and brake lever compliment heated seats, aluminum pedals, and an infotainment system packed with Apple CarPlay and Android Auto. The Mitsubishi Outlander Sport may be getting up there in age, but it does pack a lot of features, decent packaging, and an excellent warranty into a reasonably affordable package. No word on how limited this Limited Edition may actually be. Related Video: Featured Gallery 2017 Mitsubishi Outlander Sport Limited Edition Image Credit: Mitsubishi Chicago Auto Show Mitsubishi Technology Infotainment Smartphone Crossover