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Auditor had questioned Nissan on payments in Ghosn scandal, source says

TOKYO — Nissan's auditor had repeatedly questioned transactions at the heart of allegations of financial misconduct by former chief Carlos Ghosn, but Nissan said they were proper, a person with direct knowledge of the matter said on Wednesday. Ernst & Young ShinNihon LLC questioned Nissan's management several times, chiefly around 2013, about purchases of overseas luxury homes for Ghosn's personal use and of stock-appreciation rights that were conferred on him. But the Japanese automaker said the transactions and financial reporting were appropriate, the source told Reuters on condition of anonymity. The revelation shows Nissan and its auditor were discussing the transactions, in apparent contrast with Nissan's contention that the alleged misreporting of benefits for Ghosn was masterminded by Ghosn and a key lieutenant. A spokesman for EY ShinNihon, the Japanese affiliate of global accounting firm Ernst & Young, said he could not comment on specific cases. A Nissan spokesman declined to comment. Ghosn was arrested on Nov. 19 as he arrived in Japan. Prosecutors accuse him of falsifying Nissan's annual reports to understate by about half his total compensation of some 10 billion yen ($90 million) over several years. The high-profile former executive has denied the allegations, according to Japanese media. Ghosn remains in custody and is unable to speak publicly. He is represented by former prosecutor Motonari Otsuru, according to Japanese media. Otsuru's law firm declined to comment on Wednesday, and Otsuru has not responded to requests for comment. Nissan has largely pinned the blame on Ghosn and Greg Kelly, a former representative director who was arrested along with Ghosn on the same allegations. "As a result of the investigation, we are certain these two are the masterminds," CEO Hiroto Saikawa told a news conference on Nov. 19, referring to Ghosn and Kelly. He declined to say whether others at Nissan were involved in the alleged wrongdoing. An internal investigation is ongoing, and Nissan says it is cooperating with prosecutors. Nissan and Mitsubishi Motors have removed Ghosn as chairman in the wake of his arrest. The French member of the three-firm alliance, Renault, retains him as chairman and CEO.

Mitsubishi Triton Ralliart hints at performance comeback

Mitsubishi Motors has not had a very good decade. Their lineup has dwindled down to four models and the the company has struggled to stay relevant as a brand as they hemorrhage market share. However, a new Triton Ralliart truck shows some signs of life in a company once rich with enthusiast-oriented offerings. The Mitsubishi Triton Ralliart will participate in the 2022 Asia Cross Country Rally, which takes place primarily in Thailand. The Triton is built there and exported throughout southeast Asia, which happens to be one of the few markets in which Mitsubishi still enjoys decent sales. Though not sold in the U.S., the four-wheel-drive Ranger-sized pickup is available in four-cylinder gas, diesel and turbodiesel configurations, the most powerful of which makes 176 horsepower and 295 pound-feet of torque. Manual and automatic transmissions are available, with the latest versions each offering six speeds. The Triton marks a return for the company's Ralliart banner. Though Mitsubishi had been rally racing since the 1960s, the Ralliart name only made its debut in 1981. The dedicated motorsports arm allowed the company to build and campaign models like the Lancer and Galant VR-4 in international rally races, ultimately leading to a slew of World Rally Championship wins, and an equally impressive string of victories at the Paris-Dakar Rally.  Ralliart folded up in 2010 after the global financial crisis and lay dormant for over a decade. Last year Mitsubishi quietly revived the brand, revealed a concept, released a lineup of accessories for its vehicles (available only in Asia) and hinted at a racing comeback. The Triton is the first Ralliart-branded vehicle since the revival. Mitsubishi didn't reveal what modifications were made to the Triton. One encouraging sign, however, is the fact that the rally team is headed by Hiroshi Masuoka, a long-time Mitsubishi driver who won the Paris-Dakar twice. Masuoka was also a test driver who helped develop the Pajero (known in the U.S. as the Montero). Sadly, the Pajero factory was sold last week to a toilet paper manufacturer, but perhaps Masuoka can recapture a bit of Mitsubishi's past glory with the Triton, even if he's essentially starting from scratch. The Triton effort, and yesterday's announcement that Mitsubishi was donating 1 million euros to aid Ukrainian refugees, suggests Mitsubishi feels it is in a better place financially.

Good news, everyone! Updated Mitsubishi Mirage coming in 2017

If you think you see a 2016 Mitsubishi Mirage, it's a mirage. That's because the dreadful subcompact is going away for the new model year. But don't worry, the Mirage will make a triumphant return with a few updates. According to Car and Driver, an updated Mirage will launch early in the 2017 model year with powertrain and chassis enhancements. That's a good thing, considering how poorly the current car has been received. Also coming for 2017 is the Mirage sedan, a car that's already sold in other markets. Mitsubishi already confirmed the sedan's arrival, and considering how popular the base Nissan Versa sedan is, this should only improve the Mirage's sales here in the US. Speaking of sales, the Mirage isn't doing too bad in our market. It's the second-best-selling Mitsubishi product currently, beating the Outlander and Lancer through July of this year. An updated version and a sedan model will help, too. And hey, maybe this refreshed one won't be so dreary.