Mitsubishi Montero 1989 on 2040-cars

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Nissan CEO Uchida says he's willing to be fired if turnaround fails

YOKOHAMA — Nissan's new chief executive said on Tuesday he would accept being fired if he fails to turn around Japan's second biggest automaker which is grappling with plunging sales in the aftermath of the scandal surrounding ex-chairman Carlos Ghosn. Makoto Uchida, who took over the top job in December, put his job on the line at the automaker's shareholders' meeting, where he faced demands ranging from cutting executive pay to offering a bounty to bring Ghosn back to Japan after he fled to Lebanon. Nissan's worsening performance has heaped pressure on Uchida, formerly Nissan's China chief who became its third CEO since September, to come up with aggressive steps to revive the company. On Tuesday, Uchida, who was repeatedly heckled by shareholders, said he was ready to face dismissal if he failed to improve profitability at the company, which is on course to post its worst annual operating profit in 11 years. "We will make sure that we steer the company in an effective way so that it is visible in the eyes of viewers. I will commit to this: if the circumstances remain uncertain you can fire me immediately," he said. Uchida, 53, did not give a timeframe for improving Nissan's performance. The new boss must prove to the board he can accelerate cost-cutting and rebuild profits at the 86-year-old Japanese giant, and that he has the right strategy to repair its partnership with France's Renault, sources have told Reuters. Uchida pleaded with shareholders to be patient while he comes up with a plan by May to recover from crumbling profits and a corporate shake-up following Ghosn's arrest in Japan in late 2018 over financial misconduct charges. "If you can be patient a little bit longer, on a day-to-day basis you will be able to sense we are changing," he said. Ahead of the meeting, some shareholders demanded more clarity about Uchida's plan. "I just want to know what the plan for recovery is. At the moment, the share price has dropped again, and the value of the company has plummeted," said a 70-year-old former employee who owns shares in the company. "If this is the situation, part of me thinks that we would be better off with Ghosn ... If we don't get a clearer vision of the path the company is taking, it will be a worry." Nissan's shares are trading around their lowest level in more than a decade following its latest earnings.

Nissan CEO plans to deliver 'raw details of the misconduct' to Renault

TOKYO/PARIS — Nissan Motor's CEO plans to meet one-on-one with the deputy CEO of automaking partner Renault in Amsterdam this week, sources told Reuters, amid tensions over the future of the alliance after Chairman Carlos Ghosn's arrest last month. The meeting would be the first face-to-face interaction between Nissan's Hiroto Saikawa and Renault's Thierry Bollore since Ghosn was arrested on Nov. 19 in Tokyo. It would take place alongside regular top-level, monthly talks between the partners and Mitsubishi Motor Corp that will be held over two days from Tuesday, according to one of the sources familiar with the matter. Saikawa, who took over from Ghosn as CEO last year, is planning to discuss at the meeting with Bollore possible changes to the partnership's management and operations with an eye to continuing the alliance, another source who is close to Nissan's management said. The talks in Amsterdam could provide Saikawa with an opportunity to try and convince Renault executives of the gravity of Ghosn's alleged misconduct discovered during an in-house investigation by the Japanese automaker. They are being held a day after Saikawa rebuffed a demand from Renault for an extraordinary shareholder meeting that would have offered the French car maker a chance to weigh in on Ghosn's replacement as chairman and on other Nissan board appointments. Mitsubishi Chairman Osamu Masuko said late on Monday he will attend the Amsterdam meetings via video conference. A Nissan spokesman said Saikawa would attend meetings with alliance partners in Amsterdam from Tuesday, but declined to comment on the possibility of the one-on-one meeting with Bollore. Ghosn was charged last week alongside alleged accomplice Greg Kelly and Nissan itself over the company's failure to declare $43 million in deferred income that Ghosn had arranged to be paid while chairman and CEO. Both men remain in custody. The scandal has shaken the Renault-Nissan-Mitsubishi alliance, with Saikawa calling for changes to weaken Renault's control as he moved to oust Ghosn in the week of his arrest. Renault directors were briefed last week on the Nissan investigation that led to Ghosn's arrest but reiterated their earlier decision to keep him in office as chairman and CEO. But the Renault board has yet to be given direct access to Nissan's findings, which are being closely held by Renault lawyers answering to Ghosn's long-standing chief of staff and head of legal affairs at Renault, Mouna Sepehri.

Junkyard Gem: 1983 Mitsubishi 4WD SPX Truck

Mitsubishi began building the Forte small pickup in 1978, and Chrysler quickly started selling the Forte in North America with Dodge D-50/Dodge Ram 50/Plymouth Arrow Truck badging. Mitsubishi-badged vehicles first showed up on our shores as 1983 models, with four models available: the Cordia liftback coupe, the Tredia sedan, the Starion sports car and the Truck. Today's Junkyard Gem is one of the very first of those Mitsubishis to be sold in the United States, found in a Denver self-service car graveyard recently. This series is all about gems of automotive history, and we've got a really rare bit of Mitsubishi Motors history here with this August 1982 build date. I've documented six discarded (Mitsubishi-badged) Mitsubishis from the 1983 model year prior to now, and none had build dates earlier than January of 1983. This pickup may have been on the first shipload of new Mitsubishis to arrive at San Pedro (while the town's most legendary band was just becoming known outside of Southern California). Even my discovery of one of the very first Camrys sold in North America (in the same junkyard a few years back) isn't as cool as this. The commonly used name for all of the first-generation (1983-1986) Mitsubishi pickups is "Mighty Max," but a look through contemporary price guides (of which I have an extensive library) and Mitsubishi Motors USA's own marketing materials shows that the official name for this truck was "Truck," available in Mighty Max, Turbo Diesel and SPX sub-designations. Other Japanese manufacturers also sold vehicles named Trucks and Vans here, with the Toyota Truck (aka Hilux everywhere else in the world) being the best-known. Later on, Mitsubishi fully embraced the Mighty Max trim level as the model name for all the Forte/Triton-based pickups it sold here. For the 1983 model, the Mighty Max was the cheapest Mitsubishi Truck, sold only with 2.0-liter engine, rear-wheel-drive and four-on-the-floor manual transmission. This is a 4WD SPX with automatic transmission, the most expensive Mitsubishi Truck available in 1983. It has the 2.6-liter Astron SOHC four-cylinder engine, rated at 108 horsepower and 142 pound-feet. The Astron went into a wide variety of U.S.-market vehicles over the years, including Chrysler K-Cars and Dodge Challengers. Such luxury! The Dodge-badged version of this truck, the Ram 50, remained available all the way through the second generation of Forte and the 1994 model year.