2010 Mitsubishi Lancer Ralliart Sedan 4-door 2.0l Turbo 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.

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.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.