2012 Mitsubishi Lancer Evolution Gsr, Apex Silver, Excellent Condition on 2040-cars

Auto blog

Nissan board meets but doesn't pick a replacement for Ghosn

YOKOHAMA, Japan — Nissan's board met Monday but failed to pick a new chairman to replace Carlos Ghosn, who was arrested last month on charges of violating financial regulations, saying more discussion was needed. Nissan Motor Co. Chief Executive Hiroto Saikawa told reporters that the board approved a special committee of outsiders to strengthen governance at the company. A date for the selection of a chairman was not decided. "We plan to be cautious in this process, and I do not plan to rush this," Saikawa said. The recommendations for beefing up governance are due in March, and Saikawa said he was willing to wait until then to choose a chairman. The board meeting came amid an unfolding scandal that threatens the Japanese automaker's two-decade alliance with Renault SA of France and its global brand, and highlights shoddy governance at the manufacturer of the Leaf electric car. Related: Carlos Ghosn coup theory grows: Did Nissan set him up for a fall? Ghosn and another board member Greg Kelly were formally charged last week with falsifying financial reports in underreporting Ghosn's income by about 5 billion yen ($44 million) from 2011 to 2015. They were arrested Nov. 19 by Tokyo prosecutors and remain in detention. A source close to Ghosn's family says Ghosn is innocent, as the alleged income was never decided upon or paid. Aubrey Harwell, the U.S. lawyer for Kelly, an American, says he is innocent, and that Nissan insiders and outside experts had advised him that the financial reporting was proper. The chairman must be selected from among the board members. Three outside board members — race-car driver Keiko Ihara; Masakazu Toyoda, an academic; and Jean-Baptiste Duzan, formerly of Renault — are making that decision. The special committee for governance includes the three outside board members and four other outsiders, including former judge Seiichiro Nishioka. One candidate for chairman is Saikawa, who was hand-picked by Ghosn to succeed him as chief executive. He has denounced Ghosn and Kelly as the "masterminds" in a scheme to falsify income reports and abuse company money and assets. Renault has kept Ghosn as chief executive and chairman, saying its investigation has not found wrongdoing in the awarding of Ghosn's compensation. Saikawa called on directors at Renault to heed its reasons for sacking Ghosn, but Renault's interim chairman Philippe Lagayette said on Friday that its board had not considered a replacement.

Junkyard Gem: 1995 Mitsubishi Diamante Station Wagon

Chrysler sold Dodge- and Plymouth-badged Mitsubishis in the United States starting in the early 1970s, but it wasn't until the 1983 model year that Mitsubishi sold cars under their own name on this side of the Pacific. The Diamante made its American debut for the 1992 model year, but it proved unable to steal many sales from the likes of Lexus and Infiniti and not many were sold. Sure, it was big and comfortable, but SUV and minivan sales soon squeezed most wagons out of the American marketplace. Here's a rare '95 station wagon, spotted in a California yard recently. 240,664 miles on the clock, which is much higher than the not-very-trashed interior might suggest. The owner or owners of this car got their money's worth out of it. The 6G72 3.0-liter V6 went into Chrysler minivans, Mitsubishi 3000GTs, and many members of the extended Chrysler K-Car family; production of this versatile engine continued well into our current century. This one was rated at 175 horsepower. Technically, this isn't a Japanese car, since the Diamante wagons were built in Australia. Rumor has it that some 5-speed Diamante wagons were sold in the United States, but I have never seen one. 1995 was the last year for the Diamante wagon in the United States, and the Camry and Accord wagons soon got the axe as well. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. US-market Diamante ads went for a gauzy-focus Infiniti Q45-ish look. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Meanwhile, Japanese-market Diamante ads got roaring engines, macho voiceovers, and dramatic music. Related Video: Featured Gallery Junked 1995 Mitsubishi Diamante Station Wagon View 14 Photos Auto News Mitsubishi Wagon Classics

Mitsubishi ending US production

Mitsubishi is closing the doors on its US production as part of a "strategic move," Japan's Nikkei news service reports. According to Automotive News, the company declined to comment on the factory, and instead said it had "no plans to stop selling" vehicles in the United States. That's not what we asked, folks. According to the Nikkei news, the company is in the process of finding a buyer for is Normal, IL factory, which it opened as part of a joint venture with Chrysler back in 1988. The facility currently employs 918 UAW workers, whose jobs Mitsubishi is attempting to save as part of its negotiations with labor reps. The Normal plant is the only Japanese production facility with UAW representation, Automotive News reports. Normal is responsible for production of the Outlander Sport, building nearly 70,000 examples last year. Production is continuing on, according to the vice president for the local UAW Local, Kyle Young. "We haven't heard anything," Young told AN in a phone interview. "We're supposed to have negotiations coming up" in August. It's not clear how much the Mitsubishi will be selling the Normal plant for, nor is it clear if any parties are interested in picking up the facility, which contributes around $120 million to the local economy each year.