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VW was 2018's top-selling automaker — but

TOKYO — Volkswagen Group has held on to its position as the world's top-selling automaker for the fifth year in a row, although the German group was edged out again by the Renault-Nissan-Mitsubishi alliance in the light-duty vehicles segment. Renault SA, Nissan Motor Co Ltd and Mitsubishi Motors Corp together sold 10.76 million passenger cars and light commercial vehicles in 2018, according to Reuters' calculations after new data released on Wednesday. The group doesn't sell heavy trucks. Nissan said on Wednesday it sold 5.65 million vehicles last year, down 2.8 percent on the year. Mitsubishi reported an 18 percent rise in sales to 1.22 million units while Renault sold 3.88 million units, up 3.2 percent on the year. Volkswagen's deliveries rose 0.9 percent to a record 10.83 million last year, including its MAN and Scania heavy trucks, the German company said earlier this month. Excluding heavy trucks, it sold 10.6 million units. Toyota Motor Corp retained its third spot, announcing on Wednesday that it had sold 10.59 million vehicles last year including its Toyota and Lexus brands, along with minicars made by subsidiary Daihatsu and light and heavy trucks produced by its truck division Hino Motors Ltd. Excluding Hino trucks, Toyota sold 10.39 million units last year. The automaker has said it expects to sell a total of 10.76 million vehicles in 2019. Many automakers are trying to boost sales volumes to achieve economies of scale and reduce costs amid soaring investments needed to develop next-generation technologies, including self-driving cars and electric vehicles. This has been a focus of the Renault-Nissan-Mitsubishi Motors group, which is looking to share more vehicle parts and consolidate production platforms to trim R&D and manufacturing costs, while raising profitability. The alliance, which brought Mitsubishi Motors into its fold in 2016, is currently in crisis with its former Chairman Carlos Ghosn arrested and indicted on charges of misconduct. Nissan has also been indicted, and Renault appointed new top management last week. Related Video: Earnings/Financials Mitsubishi Nissan Toyota Volkswagen

Mitsubishi president resigns in wake of fuel economy scandal

Mitsubishi has announced the resignation of two of its top executives as the company is embroiled in a scandal over its fuel-economy figures. Chief among the resignations is Tetsuro Aikawa, the company's president and chief operating officer (pictured above at left, bowing), who assumed the position less than two years ago. Joining Aikawa-san on the way out is Ryugo Nakao, one of three executive vice presidents of the company and the man responsible for product planning and quality at Mitsubishi. Though two of his principal deputies are leaving, the top executive at Mitsubishi retains his seat for the time being. Osamu Masuko (pictured above at right, seated) serves as both chairman and CEO, however with Nissan assuming over a third of the company's ownership, Masuko-san could still be replaced. A shareholders meeting is scheduled for June 24, when Aikawa and Nakao's resignations are set to take effect. According to the statement below, the company "will decide on the successors of both Representative Directors at our board of directors' meeting and make an announcement promptly." The resignations of the top officials come in the wake of revelations that Mitsubishi had falsely reported the fuel-economy figures of its vehicles for decades. The broadening scandal was uncovered when Nissan tested vehicles which Mitsubishi manufactures on its behalf and found discrepancies. As his company prepares to take control of the ailing automaker, Nissan chief Carlos Ghosn says that the greatest challenge will be restoring Mitsubishi's reputation. In a similar development, Suzuki also admitted to improper fuel-economy testing. The rival automaker claims that the measures were taken without the knowledge of senior management. Related Video: Personnel Changes (Resignation) of Members of the Board Tokyo, May 18, 2016 - Mitsubishi Motors Corporation (MMC) announced resignation of members of the board as follows: 1. Member of the Board who will resign Tetsuro Aikawa President and COO, Representative Director Ryugo Nakao Executive Vice President, Representative Director 2. Reason for resignations As our announcement today on the Report to the Ministry of Land, Infrastructure, Transport and Tourism concerning improper conduct in fuel consumption testing of vehicles manufactured by MMC shows, MMC has caused tremendous trouble and concern to our customers and all of our stakeholders. Considering this, Mr. Aikawa and Mr.

Ghosn's first jail interview: I was the victim of 'plot and treason'

TOKYO — Carlos Ghosn said Nissan executives opposed to his plans for closer ties with automaking partner Renault SA resorted to "plot and treason" to disrupt them and were behind the financial misconduct allegations against him. Speaking to the Nikkei newspaper in his first media interview since his arrest on Nov. 19, Ghosn said he had discussed plans to integrate the companies with Nissan CEO Hiroto Saikawa in September. But Nissan executives employed "plot and treason" to uproot those plans, Ghosn said. Ghosn, who spearheaded Nissan's turnaround two decades ago, had pushed for a deeper tie-up between Nissan and Renault, including possibly a full merger, despite strong reservations at the Japanese corporation. He remains in detention following his arrest and indictment on charges related to breach of trust and understating his salary. His arrest has clouded the outlook for closer ties between Nissan and Renault, along with Mitsubishi Motors Corp, the third member of the automaking alliance Since his arrest, Saikawa has said it was not the time to discuss revising the partners' complex capital ties. Nissan and Mitsubishi Motors have dismissed Ghosn as chairman, while he has resigned from the helm at Renault. Ghosn denied accusations of improper payments to a company run by a Saudi businessman, saying the payment had been approved by a Nissan executive. Ghosn also called accusations by both Nissan and Mitsubishi that he received nearly 8 million euros in improper payment through a Dutch-based joint venture of the two automakers "a distortion of reality," and argued his luxury residences in Rio de Janeiro and Beirut were approved by Nissan's legal department. Nissan has said it was not aware that it had paid for many of Ghosn's properties. On Wednesday, a spokesman said that the company was unable to comment on Ghosn's legal defense. Ghosn, in the 20-minute interview, denied that his tenure at Nissan had been a "dictatorship." "People translated strong leadership to dictator, to distort reality" for the "purpose of getting rid of me," he said. Ghosn added that his health was fine, and that he wouldn't flee if freed on bail. Meanwhile, NHK reported that Saikawa plans to hold his first face-to-face discussion with new Renault Chairman Jean-Dominique Senard on the sidelines of an alliance meeting in the Netherlands on Thursday.Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.