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Mitsubishi Mirage retiring from the Japanese market in current form

The city-friendly sixth-generation Mitsubishi Mirage has reached the end of its career on the Japanese market. The company's consumer website notes that production has ended, and the news fuels speculation that the hatchback will soon retire from the American market. "Due to the end of production of the Mirage, we may not be able to meet the customer's request for body color, options, etc. Please contact our sales staff for details," the message reads. Interestingly, the end of production isn't announced on Mitsubishi's American website. While the Mirage is overshadowed by Mitsubishi's crossovers and SUVs in the United States, a market that has traditionally been unkind to small hatchbacks, it's relatively popular in several Asian markets and nothing suggests slow sales caused its demise. The current-generation model received a new-look exterior design and additional tech features for 2021, but it entered production in April 2012 as a hatchback and in June 2013 as a sedan so it's fairly old in car years — it sounds like the Mirage has simply reached the end of its natural life cycle. It's too early to tell what's next; our spies haven't spotted a new Mirage testing yet. We know that in some markets Mitsubishi will soon revive the heritage-laced Colt nameplate on a hatchback related to the Renault Clio, but we wouldn't be surprised if the Mirage lives on in one form or another. The Clio stretches about eight inches longer and five inches wider than the Mirage so the Colt won't land as a direct replacement. Similarly, what this means for the Mirage's career in the United States is unclear at this point. "The Mirage remains an integral part of our U.S. line-up at this time," a company spokesperson told Autoblog. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Nissan shares slide 5% after report Renault exploring stake reduction

TOKYO — Shares of Nissan Motor Co slumped 5% on Monday, their biggest fall in more than a month, following a report that top shareholder Renault may consider lowering its stake in the Japanese automaker. Bloomberg reported on Friday that Renault may consider lowering its Nissan shareholding as part of plans to separate its electric vehicle business. The French car maker has been pushing ahead with plans to split its electric and combustion-engine businesses in an attempt to catch rivals such as Tesla and Volkswagen On Friday, Renault said all options were on the table for separating the electric vehicle business, including a possible public listing in the second half of 2023. Any plans would be subject to approval from alliance partner Nissan, Renault finance chief Thierry Pieton said, adding the Japanese automaker was "in the loop" as Renault weighed up its options. Renault and Nissan have declined to comment on the report. Shares of Nissan fell to 509.8 yen in Tokyo, marking their biggest one-day decline since early March and underperforming an almost 2% drop in the Nikkei index. The car makers' two-decade-old alliance, which includes Mitsubishi Motors, was rocked by the 2018 ouster of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources. In January they said they would work more closely together to make electric cars. They detailed a $26 billion investment plan for the next five years. But their unequal relationship has long been a source of friction in Japan. Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in its shareholder. Renault bailed out Nissan two decades ago, but is now the smaller automaker by sales. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Mitsubishi Nissan Renault

Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.