2011 Mitsubishi Endeavor Awd Se Sunroof Nav 18's 17k Mi Texas Direct Auto on 2040-cars

Auto blog

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.

Mitsubishi ready to pull Evo's plug

We have all manner of unofficial metrics in the auto industry. No doubt you've heard some of them, like the butt dyno. Another popular measure is the smiles-per-dollar index - how entertaining is a car versus its price. Cars like the Mazda MX-5 Miata, Scion FR-S and Mini Cooper S, for example, score quite highly, while vehicles like the BMW M5 or Audi RS7 are great to drive, but score lower because of their much higher price tags. For a long time, the king of the smiles-per-dollar index was arguably the Mitsubishi Lancer Evolution X, which blended hair-raising thrills for the price of a well-equipped Ford Fusion Titanium.
Now, it looks like the Evo will need to hand over its title, as this generation of the rally-derived rocket is likely to be Mitsubishi's last - at least for a while. There's been no mention of just when production of the current car will end, so if you're in the market, we'd suggest trying to find a dealer with inventory ASAP. The news comes from the automaker's Japanese mothership, which says the brand will instead focus on utility vehicles and EVs. While there are no direct plans for a successor, an Evo XI as it were, the door remains open for a different kind of beast, according to Mitsubishi.
"Mitsubishi Motors does not have any plans to design a successor with the current concept, as a high-performance four-wheel drive gasoline-powered sedan," said Namie Koketsu, a spokesperson for Mitsubishi, according to Automotive News. "Mitsubishi Motors will explore the possibilities of high-performance models that incorporate electric vehicle technology."

2022 Mitsubishi Outlander revealed with concept car looks and Nissan underpinnings

The 2022 Mitsubishi Outlander is a pretty big deal for the automaker. It marks the first time since 2014 that the brand's long-running small crossover has had a thorough overhaul and not just a big facelift. It also marks the first Mitsubishi model in the U.S. to take advantage of the company's recent induction to the Nissan-Renault Alliance. The result is a crossover that combines Mitsubishi styling and tuning with mechanical bits shared with Nissan. On the outside, the Outlander looks remarkably similar to the Engelberg Tourer concept shown at Geneva two years ago. It has the huge lower headlight units, strong character lines and distinctive upright rear pillar. Compared to the old model, the new Outlander is a bit larger. It's 0.6 inch longer, 2 inches wider and 1.5 inches taller. The wheelbase is longer by 1.4 inches. Mitsubishi claims that the extra wheelbase has added another inch each for front and rear legroom. Speaking of the interior, it also mirrors that of the concept with the full-width air vent design, and squared off dash, controls and even steering wheel center. The interior is particularly striking in the SEL Touring and SEL trims shown in the gallery with diamond-stitched leather. Those models also get real aluminum trim. Lower models get either cloth or suede accents with piano black trim. Another cool feature is that the various chimes and alerts were developed in collaboration with Bandai Namco. There's no indication of whether you can opt for sounds from "Pole Position" or "Galaga." You can see some of the Nissan influence poke through, as the infotainment screen (available in 8- or 9-inch versions), the shifter and other odd buttons and switches can be found unchanged in vehicles such as the Rogue. That's not a bad thing, though, and they look right at home. The Outlander also boasts the unique feature of having a third row of seats. Various premium amenities will be available, too, such as a 12.3-inch instrument panel, 10.8-inch head-up display, three-zone climate control, heated rear seats, Bose sound system and a panoramic sunroof. Under the skin, the Outlander uses a shared platform developed by the Renault-Nissan-Mitsubishi Alliance. Though not explicitly specified, it should be the platform that also underpins the Rogue as well as the Sentra. The engine is another shared item, with the only offering for now being the naturally aspirated 2.5-liter four-cylinder making 181 horsepower and 181 pound-feet of torque.