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Nissan CEO Makoto Uchida rules out closer capital ties with Renault

YOKOHAMA — Nissan is committed to its automaking alliance with Renault but will not look to deepen its capital ties with the French automaker any time soon, its new CEO said on Monday. On his first day in the new position, chief executive Makoto Uchida also pledged to repair profitability at Japan's No. 2 automaker and said setting realistic targets would be key toward that goal, as it tries to make a clean break from the leadership of former chairman Carlos Ghosn. "Closer capital ties with Renault are not a focus in the short term," he told reporters. Uchida became CEO of Nissan on Dec. 1, as the car maker tries to recover from a profit slump and draw a line under a year of turmoil after the Ghosn scandal. The ousted chairman is fighting financial misconduct charges in Japan. One of the new CEO's big tasks is to salvage ties with Renault, which have deteriorated since Ghosn's ouster as chairman of both companies. Renault holds a 43.4% stake in Nissan after it saved the Japanese automaker from financial ruin two decades ago, and has pushed for the two companies to merge. In rejecting a notion of a merger with Renault, Uchida, 53, echoes his predecessor Hiroto Saikawa, who stepped down in September. He added that the alliance must re-think how it can serve all of its three members, which also includes Mitsubishi Motors. "The alliance has to benefit each of its partners in terms of revenue and profit," he said. "We need to re-evaluate what has worked and what hasn't worked in the alliance in the past few years." The CEO called for Nissan to set "challenging but achievable" targets, adding that this and the launch of more new car models and vehicle technologies would be key to its financial recovery. Nissan is bracing for its lowest annual profit in 11 years and has slashed its dividend by 65%. Its struggles come at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. "Somewhere along the way we created a culture of setting targets which could not be achieved," Uchida said, adding that this had resulted in a focus on short-term results. "Years of this had led Nissan to its current "difficult situation," he said, using heavy vehicle discounting in the U.S. market as an example of how aggressive sales targets to grow market share had deteriorated the company's brand.

Mitsubishi admits it lied about MPG ratings for all vehicles in Japan

Like the Volkswagen diesel emission scandal, news about Mitsubishi's lies over fuel-economy ratings for its Japanese market vehicles is going from bad to worse. First, it was just a few kei cars. Then it was vehicles made as far back as 1991. Now Mitsubishi has admitted deceptive mileage test data could affect every vehicle it has sold in Japan, but not vehicles sold elsewhere. We suspect that this will not cause the EPA to relax its request for more information from the Japanese automaker to see if any vehicles sold in the US are affected. Mitsubishi Motors North America has said its US numbers are legit. In a letter to the Japanese government, Mitsubishi said that even though its managers knew getting good fuel economy ratings was a difficult task, they didn't ask too many questions of the engineers actually doing the tests. That allowed those employees to fake some of the numbers. Exactly what the repercussions will be in Japan is not known, CBS News says, both in terms of fines or penalties and how to compensate people who bought these vehicles. Reports are also just coming in that the fuel scandal might lead to Nissan taking control of Mitsubishi. More on this as it develops. Related Video: News Source: CBS Government/Legal Green Mitsubishi Fuel Efficiency vw diesel scandal kei car scandal

Mitsubishi drops two more teasers of new Outlander

Mitsubishi just keeps teasing the debut of the refreshed 2016 Outlander at the 2015 New York Auto Show on April 2. The Japanese brand already hinted at the updated CUV's look on the company's invitation to the event in the Big Apple. Now, it released an even clearer view of the front and the first official look at the crossover's rear. Debuting Mitsubishi's new design language, a shot of an Outlander waiting at port already revealed its new nose completely undisguised. The brand's latest teaser provides yet another glimpse at it and further confirms the X-shaped front end that's outlined in chrome. As with the rest of the updated styling, the rear also adapts the look of last year's Concept-S. The taillights are still separated into three bars, but here they stop at the tailgate in the center, rather than running all the way across like on the show car. Beyond just the refreshed styling, the 2016 Outlander has over 100 improvements, according to Mitsubishi, including NHV refinements, better handling and improved throttle response. We will get the full details about all of the tweaks in New York in just a few days. Related Video: MITSUBISHI MOTORS TO CONDUCT WORLD PREMIERE OF 2016 OUTLANDER AT THE NEW YORK INTERNATIONAL AUTO SHOW Mitsubishi Motors North America, Inc. (MMNA) is pleased to announce that it will make the world premiere of the 2016 Outlander during its press conference at the 2015 New York International Auto Show in the North Hall (booth 260) on Thursday, April 2, 2015 at 11:30a.m. ET. The 2016 Outlander will be the first Mitsubishi vehicle to debut the brand's new design language. The 2016 Outlander is a refined crossover utility vehicle that features over 100 engineering and design improvements including a new, powerful and dynamic appearance, enhanced road performance as the result of improvements to noise levels, ride, handling and throttle response, and a more eloquent yet functional interior space. The new 2016 Outlander demonstrates the brand's renewed emphasis on style, refinement and overall driving experience. For those who are unable to join Mitsubishi Motors in New York, the press conference will be internationally broadcast live. For details about the webcast please check media.mitsubishicars.com. Full 2016 Outlander details will be released at 11:30a.m. ET on April 2, 2015. About Mitsubishi Motors North America, Inc.