2003 Mitsubishi Galant Es Sedan 4-door 4 Clynidar Grey, Good Gas on 2040-cars

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Ghosn: Restoring Mitsubishi's reputation is biggest challenge

After news that Mitsubishi falsified its fuel economy data on every vehicle it has sold in Japan since 1991, and the tumble in the company's value that followed, the troubled carmaker has an unlikely savior. Nissan has confirmed it will purchase over one third of Mitsubishi's stock, or 34 percent. The stake is valued at $2.2 billion. Ghosn says making Mitsubishi a part of the Renault-Nissan alliance will save billions in development costs. But the merger certainly isn't without challenges. "The biggest challenge is to support Mitsubishi changing itself and growing and being profitable and restoring its reputation," said Ghosn. Nissan is a natural partner for Mitsubishi, and since the fuel economy scandal escalated from discrepancies in the data regarding Mitsubishi-manufactured, Nissan-badged Japan-market vehicles, it makes sense for the company to sweep in and save the day. Nissan itself is partially owned by Renault, and Nissan has a 15-percent stake in the French automaker. Mitsubishi's chairman, Osamu Masuko says that the merger was inevitable, that it "would have happened one day" anyway, according to the New York Times. Carlos Ghosn, chairman of both Nissan and Renault, is confident they will be able to turn Mitsubishi's fortunes around. "We have the track record to make it work", Ghosn said, referring to the Renault-funded rescue of Nissan in the early 2000s. Related Video:

Ex-Nissan chairman Carlos Ghosn indicted, may remain in jail for months

TOKYO — Nissan's ex-chairman Carlos Ghosn was charged Friday with breach of trust, according to the Tokyo District Court, making the star executive's release unlikely for months. Ghosn, arrested Nov. 19, was earlier charged with falsifying financial reports in underreporting his income by about 5 billion yen ($44 million) over five years through 2015. Ghosn; Greg Kelly, another Nissan executive; and Nissan as a legal entity also were charged Friday with additional underreporting of income, from 2015 through mid-2018. Ghosn's lawyer Motonari Ohtsuru said he would request that Ghosn be granted release on bail. His detention period for the breach of trust allegations was due to expire Friday. Kelly and Nissan were not charged with breach of trust. Those allegations center on Ghosn's handling of investment losses and payments made to a Saudi businessman. Ghosn, 64, says he's innocent. Suspects in Japan are routinely held for months until trials start, and Tokyo prosecutors maintain that Ghosn, a Brazilian-born Frenchman of Lebanese ancestry, is a flight risk. Earlier this week Ghosn told a Tokyo court he was innocent, in his first public appearance since his arrest, and appealed for his detention to end. But the court rejected that request. "I have a genuine love and appreciation for Nissan," Ghosn told the court. "In all of my efforts on behalf of the company, I have acted honorably, legally and with the knowledge and approval of the appropriate executives inside the company." He said the compensation was never decided on, the investment deal never resulted in any losses to Nissan, and the payments to the Saudi businessman were for legitimate services related to dealers and investments in the Gulf. Ghosn, who appeared much thinner than before his arrest, came down with a fever the day after his court appearance, but has since recovered, Ohtsuru, the lawyer, said. His wife Carole Ghosn issued a statement overnight out of Paris, expressing concern over his sickness. "I am pleading with the Japanese authorities to provide us with any information at all about my husband's health. We are fearful and very worried his recovery will be complicated while he continues to endure such harsh conditions and unfair treatment," she said. Apart from prosecutors, only embassy officials and Ghosn's lawyers are allowed to visit him. Such visits were canceled Thursday but resumed Friday.

Ralliart returns to America for 2023

Mitsubishi announced Wednesday that its storied Ralliart nameplate will return to showrooms for the 2023 model year. The company let slip that its performance sub-brand would make a comeback more than a year ago and even revived it for a show car in Tokyo, but this is the first example of a for-real product shipping with Ralliart branding since it was kicked to the curb in 2010 — years before the compact Lancer it most famously graced was formally discontinued.  For now at least, it appears Ralliart will be a largely aesthetic makeover, with alterations limited to "unique body effects, graphics and other rally-inspired touches." We wouldn't be surprised to see larger wheels, sportier tires and perhaps even some suspension adjustments enter the mix down the line, but for now, Mitsubishi seems content to set modest expectations. Look for variants of the Outlander, Outlander PHEV, Eclipse Cross, Outlander Sport and Mirage, all of which will be built in "limited" numbers.  Elsewhere in 2023 model year news, the Mirage is losing its manual transmission option in favor of a standard CVT, and its base price will increase by $1,600 accordingly. The Outlander Sport and Eclipse Cross will now come standard with AWD, and the latter's base price will increase to $27,140 (including $1,345 for destination). Mitsubishi says more pricing and trim information for the lineup will be provided at a later date, along with more information about the new Outlander plug-in hybrid; the car itself will arrive in showrooms in Q4.  Related Video This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.