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Mitsubishi looks to crossovers and EVs for US success

Say what you will about Mitsubishi, but the Japanese automaker is slowly seeing a resurgence here in the United States. December 2015 marked the company's twenty-second consecutive month of year-over-year sales increases, and looking at last year as a whole, Mitsubishi's sales were up 23 percent over 2014. Ken Konieczka, Mitsubishi's vice president of sales operations, says that in order to stay successful, the company will bet big on crossovers and electric vehicles in the coming years. And that means a relatively aggressive product plan here in the US. First up, a brand-new CUV will launch in early 2018, previewed by the eX Concept that debuted at last year's Tokyo Motor Show (pictured). Konieczka says Mitsubishi is making room for this new crossover in its lineup – the Outlander will slowly get bigger, and the Outlander Sport will get smaller. The production version of the eX will slot between those two. Speaking of the Outlander siblings, both will be replaced in the next five years. A new, larger Outlander will arrive in 2019, and the smaller Outlander Sport will arrive in 2020. To fulfill the electric side of the business, Konieczka confirms the next Outlander Sport will sprout an EV variant, and the Outlander plug-in hybrid will launch in the United States later in 2016, as a 2017 model. As for the rest of the company's portfolio, Mitsubishi will offer the updated Mirage hatchback and new G4 sedan later this year. The future for the Lancer, however, looks grim. Konieczka says Mitsubishi still can't find an OEM partner to help create and produce a new Lancer, and our gut says the compact sedan will be phased out in the very near future. "We made a lot of mistakes," Konieczka admits, saying Mitsubishi was "spread too thin [and] had too many models" in the past. This new, more focused approach on EVs and crossovers certainly sounds promising, and will hopefully help Mitsubishi continue its slow growth here in the US market. Still, we won't know for sure until the new products actually reach showrooms. But for now, at least, things are steadily on the rise.

Renault board names Ghosn stand-ins, as tensions with Nissan increase

PARIS/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.

Japan may aid carmakers facing U.S. tariff threat

TOKYO — Japan is considering giving carmakers fiscal support including tax breaks to offset the impact from trade frictions with the United States and a sales-tax hike planned for next year, government sources told Reuters on Wednesday. Going into a second round of trade talks with the United States on Sept. 21, Japan is hoping to avert steep tariffs on its car exports and fend off U.S. demands for a bilateral free trade agreement that could put it under pressure to open politically sensitive markets, like agriculture. "If the trade talks pile pressure on Japan's car exports, we would need to consider measures to support the auto industry," a ruling party official said on condition of anonymity because of sensitivity of the matter. The auto industry accounts for about 20 percent of Japan's overall output and around 60-70 percent of the country's trade surplus with the United States, making it vulnerable to U.S. action against Japanese exports. Japan's biggest automakers and components suppliers fear they could take a significant hit if Washington follows through on proposals to hike tariffs on autos and auto parts to 25 percent. Policymakers also worry that an increase in the sales tax from 8 percent to 10 percent planned for October 2019, could cause a slump in sales of big-ticket items such as cars and home. Prime Minister Shinzo Abe has twice postponed the tax hike after the last increase from 5 percent in 2014 dealt a blow to private consumption, which accounts for about 60 percent of the economy. To prevent a pullback in demand after the tax hike, the government may consider large fiscal spending later when it draws up its budget for next year, government sources said. "One option may be to greatly reduce or abolish the automobile purchase tax," one of the government sources said. The government is also considering cuts in the automobile tax and automobile weight tax to help car buyers, the source added. Reporting by Izumi Nakagawa and Tetsushi KajimotoRelated Video: Image Credit: Getty Government/Legal Isuzu Mazda Mitsubishi Nissan Subaru Suzuki Toyota Trump Trump tariffs trade