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Nissan slashes profit forecast as Ghosn arrest hurts brand appeal

TOKYO — Nissan cut its profit forecast for the fiscal year through March on Wednesday to reflect slowing sales, higher costs and the fallout from a criminal investigation of its former chairman, Carlos Ghosn. Nissan Motor Co. expects to post a 319 billion yen ($2.9 billion) profit for the fiscal year, marking a 22% drop from its earlier 410 billion yen ($3.7 billion) forecast. Nissan said the downgrade reflects higher costs in the U.S. from a warranty extension campaign for some vehicles and falling sales due to "corporate issues," alluding to the Ghosn scandal. Ghosn was arrested in November and is facing charges of underreporting his income and breach of trust. He says he is innocent. He was released on bail in March and is awaiting another court decision on bail after his re-arrest on April 4. Nissan, which is allied with Renault SA of France, has seen sales lag in France and Japan, where Ghosn is widely known. In the U.S. and China, buyers aren't as affected by the scandal, but the markets there overall have slowed. Other factors contributed to the revision, such as production not keeping up with demand for the Note, an extremely popular model in Japan. But the high-profile scandal has weakened the brand appeal of the maker of the Leaf electric car, Infiniti luxury model and X-trail sports utility vehicle. Nissan said it expects to sell 5.5 million vehicles in this fiscal year. Earlier it predicted it would sell 5.6 million. The company sold nearly 5.8 million vehicles in the fiscal year that ended in March 2018. The automaker reduced its sales outlook by 0.2% for the fiscal year through March 2019 to 11.5 trillion yen ($103 billion), compared to its previous forecast. It was Nissan's second downgrade for its outlook following one in February that cited faltering sales in China and the U.S. At that time, Nissan also logged costs about 9.2 billion yen ($83 million) related to the alleged underreporting of Ghosn's compensation. Nissan has promised to strengthen its corporate governance to prevent a recurrence of what it says is serious wrongdoing by Ghosn. Ghosn was sent by Nissan's French alliance partner, Renault SA, to help turn the Japanese automaker around when it was near bankruptcy 20 years ago. The future of the alliance is one of many questions clouding Nissan's future following Ghosn's ouster since he was the main liaison for the alliance, which includes smaller Japanese automaker Mitsubishi Motors.

Mitsubishi celebrates 30th anniversary in US with Outlander Sport Limited Edition

The hurrah of the last kind for the Mitsubishi Outlander Sport is this Limited Edition that celebrates 30 years of Mitsubishi Motors in North America. Built in North America as well, the 2013 Outlander Sport Limited Edition gets numerous black trim pieces outside, such as the center bumper, side mirror housings, wheel arch trim and skirting and roof rails. It sits on special Argent wheels.
Open the doors and the darkness continues with available Dove Grey and Black leather seating, and black leather parking brake sleeve, all accented by aluminum brake and accelerator pedals. On this model the six-way power driver's seat is standard. The sole performance mod is a new balancer shaft that makes for quicker acceleration without any penalty in the mileage rating.
You can start saying goodbye to this generation of the Outlander Sport in the high-res gallery above, and read more about it in the press release below.

Mitsubishi Electric unveils Emirai 4 autonomous EV concept for Tokyo

Mitsubishi Electric – a separate arm from Mitsubishi Motors ­– specializes in electronics. That includes things like air conditioning and refrigerators, but also covers a number of automotive systems and parts ranging from engine control units to power steering to electrification products. Now, Mitsubishi Electric is putting that expertise to use in the field of future mobility, unveiling an entire concept car, called the Emirai 4, for the Tokyo Motor Show. The Emirai 4 is electric, and can switch between normal and autonomous driving. It has a head-up display that uses augmented reality, powered by high-accuracy 3D mapping and positioning tech, to emphasize lane markings, making them more visible at night or in lousy weather. A central display is equipped with a sliding knob that can be assigned various functions, and is intended to help the driver keep their eyes on the road. The car is also equipped with a driver sensing system. It uses an interior camera to monitor the driver and passenger by detecting head position and posture. It can alert the driver to unsafe driving, respond to the driver or passenger's individual conditions to make them more comfortable, and aids in providing a smooth transition between autonomous and manual driving modes. The Emirai 4 also features an intelligent lighting system that detects when someone is going to open the door. That way, it can project an image onto the road and light up an alert on the rear of the car to alert passersby, hopefully preventing a collision with the door buy a pedestrian, cyclist, or another motorist. We'll be at the Tokyo Motor Show, so we'll be able to dig a little deeper into how these systems work (and get some better photos) when we see the Emirai 4 in person. This won't be the only concept bearing the Mitsubishi name at the Tokyo Motor Show. Mitsubishi Motors is planning its own unveiling of an electric vehicle called the e-Evolution. That all-wheel-drive SUV uses artificial intelligence to improve your driving skills. Mitsubishi has been teasing the e-Evolution, which borrows its name from the hardcore Lancer we all know and love, and it will get its full reveal next week. Related Video: