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Renault to propose joint holding company with Nissan, Nikkei reports

TOKYO — Renault SA will propose to Nissan Motor Co a plan to create a joint holding company that would give both firms equal footing as the French automaker seeks further integration with its Japanese partner, the Nikkei newspaper reported on Friday. Under the proposal, both firms would nominate a nearly equal number of directors to the new company in which ordinary shares in both Nissan and Renault would be transferred on a balanced basis, the newspaper said, without citing sources. This would effectively dilute the stake held by the French government in Renault to around 7-8 percent, from its current 15 percent, it added. The new company would be headquartered in a third country, such as Singapore. Renault plans to make the proposal to Nissan soon, the Nikkei said, having modified an earlier merger idea that Nissan rejected on April 12. Nissan declined to comment on the issue. The Financial Times newspaper reported that both Nissan and the Japanese government have refused to engage in merger talks with Renault. The report of the proposal comes as the outlook for the alliance — one of the world's top automaking partnerships — has clouded since the arrest in November of its main architect, Carlos Ghosn, for suspected financial misconduct. It also comes as Nissan's financial performance struggles following years of focusing on volume sales over building its brand, particularly in the United States, its biggest market. Nissan slashes its forecast This week, the Japanese automaker slashed its profit forecast for the year just ended to its lowest in nearly a decade, citing weakness in its U.S. operations. Renault for years has been vying for a closer merger with Nissan, which it rescued from the brink of bankruptcy two decades ago. Ghosn had been working to achieve a deeper integration before his arrest on financial misconduct charges in November last year. While the automakers have been consolidating many of their operations over the past decade, including procurement and production, many executives at Nissan have opposed an all-out merger with Renault. Instead, Nissan has argued for a more equal footing with Renault, which holds a 43 percent stake in its bigger partner. Nissan holds a 15 percent stake in Renault. It was unclear whether Renault would hold the casting vote in major decisions at the new company, as it did in Renault-Nissan B.V., a strategic management company jointly held by both companies that oversaw operations for the partnership.

Mitsubishi teases new compact crossover that could be called Eclipse

Does the world need another compact crossover? No, not really. But Mitsubishi could certainly use another vehicle in the hottest segment in America. And the Japanese automaker is about to show off a brand-new model at the upcoming Geneva Motor Show that will slot between the Outlander Sport and the larger Outlander. Rumors suggest that this new compact crossover might revive a well-known name from the past: Eclipse. While that's undeniably better than a random series of numbers or letters, or another riff on the Outlander moniker, Mitsubishi would surely alienate some of its hardcore fans by christening a CUV with the name of an old sport coupe. Here's hoping those rumors stay exactly that. Moving past the potentially controversial name, what we're looking at is a pretty conventional coupe-like two-box shape. The sloping roofline looks current, and the steeply raked rear glass adds a sporty flare. We've got a little over a month before we see the new 'ute in all its glory, and probably about a year before it's in US showrooms. In the meantime, check out the dark teaser above or click to enlarge it down below. Related Video:

2017 Mitsubishi Mirage: Hey, it sort of looks better

I've never really been too kind to the Mitsubishi Mirage. Sure, its bargain-basement MSRP is appealing, and there's plenty of content within. But in the end, it's just sort of a dumpy little thing. Thankfully, Mitsubishi is offering a number of updates for the 2017 model year, and the redone Mirage shows its freshened face to the world at the 2015 LA Auto Show. First and foremost, it looks better. There's some more assertive styling baked into the nose, including LED running lamps and a stylized lower grille. That said, it's the same ol' Mirage out back. Inside, a number of new fabrics and trim pieces are found throughout the cabin, and the infotainment system is updated to include the popular Apple CarPlay and Android Auto apps. Mitsubishi's wheezy little three-cylinder still resides underhood, making 78 horsepower and 74 pound-feet of torque. That's actually four more horsepower than last year's car, but I'm sure the Mirage will continue to sprint at its usual, glacial pace. Overall drivability might see an improvement, too, as Mitsubishi is fitting larger brakes and a retuned suspension. I'll be sure to give the Mirage a fair shake next year. Until then, I'll just gaze lovingly into the purple hatch's new eyes, in the gallery above. THE 2017 MITSUBISHI MIRAGE: NEW EXTERIOR DESIGN AND ADDED PERFORMANCE ENHANCEMENTS - The new Mitsubishi Mirage continues to deliver outstanding fuel economy - 2017 Mirage will feature Android Auto™ and Apple CarPlay™ - Attractive pricing and 10-year warranty distances the competition CYPRESS, Calif. Nov. 18, 2015 – Mitsubishi Motors North America, Inc. (MMNA) today announced details for the fuel-efficient 2017 Mitsubishi Mirage featuring a new exterior design, improved performance and enhanced interior appeal. Despite all that is new for Mirage in 2017, a few things didn't change at all—Mirage still offers impressive fuel economy, attractive pricing and industry leading new vehicle and powertrain warranties. The Mitsubishi Mirage hatchback will be available at dealers in spring 2016. "Mirage has gained popularity with its affordable and practical appeal," said Don Swearingen, executive vice president, MNNA. "Mirage owners are looking for a vehicle that does its job well and is reliable. The Mirage continues to deliver all of those attributes, and the improvements to the 2017 model year will expand the Mirage's appeal even more." The changes for the 2017 model year are led with the new exterior design.