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'Zero' chance of Renault taking over Nissan, Mitsubishi, says Ghosn

TOKYO — Renault SA absorbing Nissan Motor Co. and Mitsubishi Motors Corp is not an option as the carmakers look to strengthen their partnership while retaining their autonomy, alliance chairman Carlos Ghosn said on Friday. "Anybody who will ask Nissan and Mitsubishi to become wholly owned subsidiaries of Renault has zero chance of getting a result," Ghosn told shareholders of Mitsubishi Motors at a meeting. He also serves as chief executive of France's Renault. The alliance was the world's top-selling passenger vehicle maker in 2017, but as the global auto industry consolidates, it is looking to strengthen its position before the 64-year-old Ghosn, its main architect, retires in the coming years after overseeing the partnership for nearly 20 years. We reported in March that the carmakers were discussing a deeper tie-up, which could see the French government, a major shareholder in Renault, give up influence at Renault and the French carmaker relinquish control over Nissan. The three automakers have a unique partnership designed to leverage their combined scale to save on costs including R&D, parts procurement and production to better compete with rivals Volkswagen AG and Toyota Motor Corp. They are also interlinked by their shareholding structure. Renault holds 43.4 percent of shares in Nissan, while Nissan owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Mitsubishi Motors joined the alliance in 2016 after Nissan took a 34 percent controlling stake in the smaller automaker. Nissan CEO Hiroto Saikawa has said the alliance is not discussing a "full merger." Ghosn said that while the focus of the alliance was to sell more cars and increase profitability by reducing unnecessary duplication of processes, he wanted each of the three automakers to maintain their independence, which differentiated the group from Toyota and Volkswagen. "We need to work together ... to find a system by which what we have today, which is working very well, can continue in the future no matter who is leading the alliance," he said. "We need to prove that this is sustainable five years down the road, 10 years down the road, 15 years down the road." In a Figaro interview published last week, Ghosn was upbeat about the prospect of securing a new deal for the alliance despite its extreme political sensitivity in France and Japan, saying a plan would need to be announced "well before" the end of his four-year term at the helm of Renault in 2022.

Ousted Renault-Nissan boss Carlos Ghosn leaves Japan for Lebanon

BEIRUT/TOKYO — Ousted Nissan boss Carlos Ghosn was in his childhood home of Lebanon on Tuesday after fleeing what he said was a “rigged” justice system in Japan, raising questions about how one of the worldÂ’s most-recognized executives slipped away while on bail. GhosnÂ’s abrupt departure marks the latest dramatic twist in a year-old saga that has shaken the global auto industry, jeopardised the alliance of Nissan Motor Co Ltd and top shareholder Renault SA and cast a harsh light on JapanÂ’s judicial system. “I am now in Lebanon and will no longer be held hostage by a rigged Japanese justice system where guilt is presumed, discrimination is rampant, and basic human rights are denied,” Ghosn, 65, said in a brief statement on Tuesday. “I have not fled justice - I have escaped injustice and political persecution. I can now finally communicate freely with the media, and look forward to starting next week.” Tokyo officials have previously said the system is not inhumane and that Ghosn, who is facing trial on financial misconduct charges he denies, has been treated like any other suspect. It was unclear how Ghosn, who holds French, Brazilian and Lebanese citizenship, was able to orchestrate his departure from Japan, given that he had been under strict surveillance by authorities while out on bail and had surrendered his passports. According to a senior Lebanese foreign ministry source, Ghosn entered Lebanon legally on a French passport and using his Lebanese ID with normal security procedures. Asked if Ghosn used a French passport, the French foreign ministry press service said it had no immediate comment. Ghosn arrived in Beirut on a private jet from Istanbul on Monday, people familiar with the matter told Reuters. Immigration authorities had no record of Ghosn leaving the country, Japanese public broadcaster NHK said. A person resembling him entered Beirut international airport under a different name, NHK reported, citing an unidentified Lebanese security official. His lawyers were still in possession of his three passports, one of his lawyers, Junichiro Hironaka, told reporters. Hironaka, in comments broadcast live on NHK, said the first he had heard of GhosnÂ’s departure was on the news this morning and that he was surprised. He also said it was “inexcusable behaviour”. Japan has extradition treaties with only the United States and South Korea, according to the justice ministry, meaning it could be difficult to force Ghosn to return to stand trial.

Zombie cars: Discontinued vehicles that aren't dead yet

Car models come and go, but as revealed by monthly sales data, once a car is discontinued, it doesn't just disappear instantly. And in the case of some models, vanishing into obscurity can be a slow, tedious process. That's the case with the 12 cars we have here. All of them have been discontinued, but car companies keep racking up "new" sales with them. There are actually more discontinued cars that are still registering new sales than what we decided to include here. We kept this list to the oldest or otherwise most interesting vehicles still being sold as new, including a supercar. We'll run the list in alphabetical order, starting with *drumroll* ... BMW 6 Series: 55 total sales BMW quietly removed the 6 Series from the U.S. market during the 2019 model year. It had been available in three configurations, a hardtop coupe, a convertible and a sleek four-door coupe-like shape.   BMW i8: 18 total sales We've always had a soft spot for the BMW i8, despite the fact that it never quite fit into a particular category. It was sporty, but nowhere near as fast as similarly-priced competitors. It looked very high-tech and boasted a unique carbon fiber chassis design and a plug-in hybrid powertrain, but wasn't really designed for maximum efficiency or maximum performance. Still, the in-betweener was very cool to look at and drive, and 18 buyers took one home over the course of 2021.   Chevy Impala: 750 total sales The Impala represented classic American tastes at a time when American tastes were shifting away from soft-riding sedans with big interior room and trunk space and into higher-riding crossovers. A total of 750 sales were inked last year.   Chrysler 200: 15 total sales The Chrysler 200 was actually a pretty nice sedan, with good looks and decent driving dynamics let down by a lack of roominess, particularly in the back seat. Of course, as we said regarding the Chevy Impala, the number of Americans in the market for sedans is rapidly winding down, and other automakers are following Chrysler's footsteps in canceling their slow-selling four-doors. Even if Chrysler never really found its footing in the ultra-competitive midsize sedan segment, apparently dealerships have a few leftover 2017 200s floating around. And for some reason, 15 buyers decided to sign the dotted line to take one of these aging sedans home last year.