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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Minnesota couple puts 414k miles on a 2014 Mitsubishi Mirage

A couple in Minnesota just traded in their 414,000-mile 2014 Mitsubishi Mirage, which is notable for any car, topping many of the Junkyard Gems we've featured. We were also impressed because that's a lot of miles in a car that we weren't especially fond of. But the couple that owned it, Jerry and Janice Huot, clearly liked it. Dubbed the "Purple Won" in a nod to Prince, the subcompact endured six upper Midwest winters as an all-purpose utility and delivery vehicle. "I always loved the comments at gas stations and grocery stores and waves from people as I’d drive by," Jerry said. "Kids would always stop and point. Everybody seemed to love that car; it would make everyone smile whenever they saw it." The Huots were repeat Mitsubishi buyers in search of something with better fuel efficiency than their Cadillac. While Mitsubishi didn't specify which model the Huots traded in, it's safe to say that whatever it was, the 2014 Mirage would have been a significant upgrade in that respect, as it was rated at 37 mpg in the city, 44 on the highway and 40 combined when it was sold new; the EPA has since re-rated it at 36/42/39.   "Right in the middle of the showroom was this little purple Mirage that got 44 mpg," Janice told Mitsubishi. "IÂ’d had an Outlander Sport and Montero Sport before and loved them, so it seemed like a good choice. We drove the Mirage home that day, right off the showroom floor." "Janice drove it mostly for the first 7,000 miles or so, but when winter came, she wanted all-wheel-drive, so she got a 2015 Mitsubishi Outlander Sport," Jerry says. "But then I started using the Mirage for my business. I am a courier. I deliver samples from various doctorsÂ’ offices to labs, so I drive up and down the state and around town in Minneapolis all the time. The Mirage never missed a beat. It got me up and out of our gravel driveway, even in the middle of winter, when others got stuck in the snow." According to the Huots, the Mirage only needed two noteworthy repairs on its way to 414,000 miles: a replacement starter motor between 200,000 and 300,000 miles and a new set of wheel bearings some time after 150k, both of which they say were addressed under warranty. We checked with Mitsubishi, who confirmed that the Huots purchased an extended warranty from the dealership, hence the coverage of failed items at such high mileage. Apart from that, the Huots say it has needed only regularly scheduled maintenance. What replaced it? Another Mirage, predictably.

Mitsubishi NA gets new president and CEO

Last week, we told you that Mitsubishi will be getting a new global president, with Osamu Masuko stepping aside in favor of Tesuro Aikawa. The executive changes at the Japanese automaker are hitting closer to home, now, with official word that Mitsubishi Motors North America is getting a new president and CEO, as well. Effective March 1, Ryujiro Kobashi will take over for Yoichi Yokozawa, 49, who has been in charge since April of 2011. Yokozawa is headed back to Japan, where he will assume a spot in the company's corporate planning offices.
Kobashi, 53, has been with Mitsubishi since 1983 when he was fresh out of college. Previous to taking the top job in North America, he was installed as corporate general manager of the NA office at Mitsubishi's headquarters in Japan, where he coordinated regional operations for the US, Canada and Mexico. Before that, he held posts in planning, marketing, advertising and public relations for the company.
Kobashi takes over the company's North American operations at a pivotal time, when the region is finally showing signs of life after a prolonged period of stagnation. As Automotive News notes, Mitsubishi only sold 62,227 vehicles in the US in 2013, but that figure still represents an eight-percent increase. Its crossovers, the new-for-2014 Outlander and the two-year-old Outlander Sport have been selling relatively well, and the affordable Mirage subcompact is a new arrival at dealers.