2008 Mitsubishi Eclipse Se Coupe 2-door 3.8l on 2040-cars

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Nissan shares slide 5% after report Renault exploring stake reduction

TOKYO — Shares of Nissan Motor Co slumped 5% on Monday, their biggest fall in more than a month, following a report that top shareholder Renault may consider lowering its stake in the Japanese automaker. Bloomberg reported on Friday that Renault may consider lowering its Nissan shareholding as part of plans to separate its electric vehicle business. The French car maker has been pushing ahead with plans to split its electric and combustion-engine businesses in an attempt to catch rivals such as Tesla and Volkswagen On Friday, Renault said all options were on the table for separating the electric vehicle business, including a possible public listing in the second half of 2023. Any plans would be subject to approval from alliance partner Nissan, Renault finance chief Thierry Pieton said, adding the Japanese automaker was "in the loop" as Renault weighed up its options. Renault and Nissan have declined to comment on the report. Shares of Nissan fell to 509.8 yen in Tokyo, marking their biggest one-day decline since early March and underperforming an almost 2% drop in the Nikkei index. The car makers' two-decade-old alliance, which includes Mitsubishi Motors, was rocked by the 2018 ouster of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources. In January they said they would work more closely together to make electric cars. They detailed a $26 billion investment plan for the next five years. But their unequal relationship has long been a source of friction in Japan. Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in its shareholder. Renault bailed out Nissan two decades ago, but is now the smaller automaker by sales. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Mitsubishi Nissan Renault

Facts point to legal violations by Carlos Ghosn, says Nissan external review

YOKOHAMA, Japan — An external committee reviewing governance at Nissan Motor Co said on Wednesday there were enough facts to suspect violations of laws and the private use of company funds by ousted chairman Carlos Ghosn. Following a three-month audit of Nissan's governance after a scandal that shook the global auto industry, the committee put the blame squarely on what it called Ghosn's concentration of power. It also acknowledged Nissan CEO Hiroto Saikawa's role in Ghosn's salary arrangement at the heart of the scandal. Twenty years to the day since French automaker Renault SA agreed to rescue Nissan, the committee described a corporate culture at Nissan "in which no one can make any objections to Mr. Ghosn," who was "in a way deified within Nissan as a savior who had redeemed Nissan from collapse." A representative for Ghosn replied in a statement that the allegations made against the former Nissan chairman "will be revealed for what they are: part of an unsubstantiated smear campaign against Carlos Ghosn to prevent the integration of the Alliance and conceal Nissan's deteriorating performance." The group issued 38 recommendations to bolster Nissan's governance, including that top executive positions at the Japanese car maker should not be held by people serving in executive positions at Renault or junior partner Mitsubishi Motors. It also proposed that the majority of directors, including the chairman of the board, be independent, outside directors and that the role of company chairman be abolished. Responding to the committee's comments, Saikawa told reporters on Thursday that Nissan would seriously consider the committee's recommendations, which he characterized as "tough." Saikawa, who was speaking outside his home, did not specifically address his responsibility in the scandal but has previously said that top management, including himself, were responsible for weak governance which led to the misconduct. The recommendations from the external, seven-member committee came weeks after Nissan and Renault said they would retool their alliance, one of the world's biggest automaking groupings, to break up the all-powerful chairmanship previously held by Ghosn. "There are facts sufficient to suspect violations of laws and regulations, violation of internal rules and private use of company funds and expenses ... by Mr. Ghosn," the committee said in its report.

Scrapyard Gem: 2008 Mitsubishi i

YORK, England — The mainstream EV is still a bit too young to be easy to find in the car graveyards I frequent (though I have documented a few, including Toyota's RAV4-based competitor to the GM EV1), but I remain hopeful that I'll run across a discarded Mitsubishi i-MiEV during my junkyard travels. This might be difficult, since Mitsubishi sold just over 2,000 examples of the short-range electrified kei car in the United States before discontinuing its sale here in 2016. However, I managed to find one of the i-MiEV's gasoline-fueled brethren in a knacker's yard across the Atlantic: a Mitsubishi i. Yes, I traveled to Northern England in January with the primary goal of visiting one of only two American-style self-service scrapyards in Great Britain (that's what they call them over here): the U-Pull-It in York, which is owned by Dallas-based Copart. You'll be seeing many interesting discarded vehicles from that all-too-brief trip, so be sure to check in here regularly. The i (there ought to be an international treaty forbidding the use of a single lower-case letter as the designation for a vehicle model, as well as vehicles with punctuation marks in their names) was built from the 2006 through 2013 model years. Supposedly its name refers to the pronunciation for the Japanese word for "love." In order to meet kei standards in its homeland, it was fitted with a rear-mounted engine displacing just 0.659 liters. It appears that the internal-combustion-powered i was built only in right-hand-drive configuration, so Mitsubishi limited exports to drive-on-the-left places such as Hong Kong, Singapore and the United Kingdom. The MSRP for a new 2008 i in the UK was GBP9,084, or about GBP14,173 after inflation (that's about $17,992 in 2024 dollars). It seems that the i was just too weird-looking and too slow to appeal to many British car shoppers. Today's Junkyard Scrapyard Gem was one of a mere 303 examples of the Mitsubishi i exported to Europe. The i was available only with a four-speed automatic transmission. The engine compartment refused to open, and I grew tired of beating up my frozen fingers trying to force it open in the 29°F chill of North Yorkshire on a January morning Â… so here's the best shot of the turbocharged DOHC three-banger I was able to get.