1995 Mitsubishi 3000gt on 2040-cars

Auto blog

Automakers Renault, Nissan will become equals, with equal stakes in each other

TOKYO — Nissan and Renault have agreed to equalize the stakes they hold in each other, both sides said Monday, ironing out a source of conflict in the Japan-French auto alliance. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say in how the Japanese automaker is run. It will transfer shares equivalent to a 28.4% stake to a French trust so each side will hold the same 15% stake in the other, according to the companies. The disparity between the holdings was a cause of friction, especially after Nissan became far more profitable than Renault. The agreement on the change is still being finalized and needs board approval from both companies. The companies said the shares in the French trust can eventually be sold but did not say to whom or how. They said the sale will be carried out in a “coordinated and orderly process” if a deal makes commercial sense to Renault Group, and that there is no time deadline. Until then, the voting rights would be “neutralized” for most managerial decisions, but the economic rights, such as dividends, will continue to go to Renault, the companies said. The top shareholder in Renault is the French government. Japanese Prime Minister Fumio Kishida met with French President Emmanuel Macron earlier this month. The alliance has had its ups and downs since it began in 1999, when Renault sent one of its executives, Carlos Ghosn, to then-struggling Nissan to lead a turnaround. Ghosn first served as Nissan's chief executive and later its chairman before he was arrested in late 2018 on various financial misconduct charges. The alliance, which also includes smaller Japanese automaker Mitsubishi Motor Corp. and remains one of the world's top auto groups, has been eager to put the Ghosn scandal behind it. Allegations against Ghosn include underreporting income, using investment funds for personal gain and illicit use of company expenses, including overseas homes and a yacht. Ghosn said he is innocent of all charges. He jumped bail in late 2019 and is now in Lebanon, which has no extradition treaty with Japan. The equalization of the crossholdings has been speculated about for some time. The companies called the move “an important milestone.” “The ambition is to strengthen the ties of the alliance and maximize value creation for all stakeholders,” said Nissan, based in the port city of Yokohama.

2023 Mitsubishi Triton pickup unveiled, rally-bound model announced

Developed for global markets, the new Mitsubishi Triton made its debut with a rugged-looking exterior design, a more modern interior and a new frame, among other improvements. The brand will show off just how tough its new truck is by entering it in a grueling rally later in 2023. Sold as the L200 in some markets, the sixth-generation Triton is new from the ground up. It's bigger than its predecessor, built on a beefier frame, and it wears a more angular design characterized by a tall, upright front end, a boxier cab, and squared-off wheel arches. Buyers can select a single, club or double cab, and the truck's exterior appearance varies significantly depending on the trim level selected. Mitsubishi's press images show a nicely-equipped trim level aimed at private users; more basic trucks designed for commercial buyers are available, too. The same applies to the interior; what you get largely depends on what you paid for. Upmarket trim levels benefit from an almost SUV-like interior with a wireless device charger, USB-C outlets, a touchscreen-based infotainment system and Mitsubishi Connect compatibility. The truck hasn't forgotten its roots, however: all of the switches and knobs were designed to be comfortably used while wearing gloves. Power for the Triton comes from a new, 2.4-liter turbodiesel four-cylinder engine called 4N16 internally. It's offered in several states of tune. The base engine develops 146 horsepower and 243 pound-feet of torque, the mid-range version posts figures of 181 and 317, respectively, while the range-topping variant puts 201 horses and 347 pound-feet of twist under the driver's right foot. Rear-wheel drive and a six-speed manual transmission come standard, while four-wheel drive, a six-speed automatic transmission, or both can be added at an extra cost. Mitsubishi redesigned the suspension system with an eye on on-road comfort, though it stresses that its engineers didn't sacrifice the truck's off-road capacity. The front end carries on with double wishbones, while the back end gets lighter leaf springs and thicker shock absorbers. Several small but important changes round out the updates, including wider side steps and a repositioned engine oil pan drain plug. On sale now in Thailand, where it's manufactured, the new Mitsubishi Triton will gradually be launched in numerous global markets over the next few months. It will notably be available on the Japanese market for the first time in 12 years starting in early 2024.

Car owners getting more irritated with their repair experiences, study says

The J.D. Power U.S. Customer Service Index Study (CSI) is a barometer of a vehicle owner's happiness with the service experience. While it wasn't all bad in the 2023 study, the overall owner satisfaction score dropped. This year's tally of 846 out of 1,000 is two points down from 2022, the 43-year-old study's first decline in more than 28 years, and one point down from 2021. However, the overall score remains well up from the pre-pandemic scores of 821 in 2018 and 837 in 2020. The study claims the stumbling block is the horde of BEV launches. The flood into the new energy space has created a recall rate among EVs that's more than double the rate for ICE vehicles. Furthermore, dealership service department knowledge of EVs isn't on par with internal combustion engine expertise, leaving EV owners less satisfied with service advisors compared to ICE owners. Chris Sutton, VP of automotive retail at J.D. Power, said, "As training programs for service advisors and technicians evolve, EV service quality and customer experience must address both the vehicle and the unique customer needs. The EV segment has the potential to spur massive convenience improvements in how customers service their vehicles — but weÂ’re not seeing the benefits yet." Matters are slightly worse for all owners, though, with labor and parts shortages contributing to longer wait times for service appointments. The CSI study surveys owners and lessees of one- to three-year-old vehicles to gauge their happiness with service at franchised dealer or aftermarket service facilities for maintenance or repair work. The criteria in order of importance are service quality (32%); service advisor (19%); vehicle pick-up (19%); service facility (15%); and service initiation (15%). Lexus retains the top spot for luxury brands, giving it three wins in four years. The Japanese automaker won in 2020 as well, its run interrupted by Porsche in 2021. Cadillac, Infiniti and Acura complete the luxury top 5.  For mass-market cars, Mitsubishi wins again after a victory in 2021 and falling to fourth last year. It's followed by Mazda, Buick, Subaru and Mini.  Considering the different service needs and service experience of different body styles, the study has broken results out by segment for the first time. Lexus earned a second victory thanks to winning the premium SUV segment, and Mitsubishi earned a second victory by winning the mass-market SUV/minivan category.