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Nissan CEO Makoto Uchida rules out closer capital ties with Renault

YOKOHAMA — Nissan is committed to its automaking alliance with Renault but will not look to deepen its capital ties with the French automaker any time soon, its new CEO said on Monday. On his first day in the new position, chief executive Makoto Uchida also pledged to repair profitability at Japan's No. 2 automaker and said setting realistic targets would be key toward that goal, as it tries to make a clean break from the leadership of former chairman Carlos Ghosn. "Closer capital ties with Renault are not a focus in the short term," he told reporters. Uchida became CEO of Nissan on Dec. 1, as the car maker tries to recover from a profit slump and draw a line under a year of turmoil after the Ghosn scandal. The ousted chairman is fighting financial misconduct charges in Japan. One of the new CEO's big tasks is to salvage ties with Renault, which have deteriorated since Ghosn's ouster as chairman of both companies. Renault holds a 43.4% stake in Nissan after it saved the Japanese automaker from financial ruin two decades ago, and has pushed for the two companies to merge. In rejecting a notion of a merger with Renault, Uchida, 53, echoes his predecessor Hiroto Saikawa, who stepped down in September. He added that the alliance must re-think how it can serve all of its three members, which also includes Mitsubishi Motors. "The alliance has to benefit each of its partners in terms of revenue and profit," he said. "We need to re-evaluate what has worked and what hasn't worked in the alliance in the past few years." The CEO called for Nissan to set "challenging but achievable" targets, adding that this and the launch of more new car models and vehicle technologies would be key to its financial recovery. Nissan is bracing for its lowest annual profit in 11 years and has slashed its dividend by 65%. Its struggles come at a time when car companies desperately need scale to keep up with sweeping technological changes like electric vehicles and ride-hailing. "Somewhere along the way we created a culture of setting targets which could not be achieved," Uchida said, adding that this had resulted in a focus on short-term results. "Years of this had led Nissan to its current "difficult situation," he said, using heavy vehicle discounting in the U.S. market as an example of how aggressive sales targets to grow market share had deteriorated the company's brand.

Mitsubishi Outlander PHEV is fourth plug-in to reach 100,000 sales

After what seems like a lifetime of delays, the Mitsubishi Outlander PHEV will finally arrive in this US in " late summer, early fall." What's taken so long? Well, Mitsubishi had to sell 100,000 of the big plug-in hybrids in Europe and Japan first, apparently. You could see the milestone coming, since sales have been strong in the markets where the Outlander PHEV was available, with around two-thirds of its sales coming from Europe, Hybrid Cars says. When we spoke with Don Swearingen, executive vice president of Mitsubishi Motors North America (MMNA) earlier this year, he said that sales of around 200-400 Outlander PHEVS a month (10-20 percent of the Outlander's total US monthly sales) would be, " a very good number." Inside EVs says that the Okazaki Plant where the Outlander PHEV is made, " is running at full swing." As Hybrid Cars points out, the Outlander PHEV is only the fourth plug-in car ever to sell 100,000 units. The others are the Nissan Leaf (roughly 218,000 sales worldwide), the Tesla Model S (120,000), and the Chevy Volt (110,000). The next likely candidate to cross this threshold is the Prius Plug In – it has around 75,000 sales – if we count the upcoming Prius Prime updates as the same vehicle. Related Video:

Mitsubishi Triton Ralliart hints at performance comeback

Mitsubishi Motors has not had a very good decade. Their lineup has dwindled down to four models and the the company has struggled to stay relevant as a brand as they hemorrhage market share. However, a new Triton Ralliart truck shows some signs of life in a company once rich with enthusiast-oriented offerings. The Mitsubishi Triton Ralliart will participate in the 2022 Asia Cross Country Rally, which takes place primarily in Thailand. The Triton is built there and exported throughout southeast Asia, which happens to be one of the few markets in which Mitsubishi still enjoys decent sales. Though not sold in the U.S., the four-wheel-drive Ranger-sized pickup is available in four-cylinder gas, diesel and turbodiesel configurations, the most powerful of which makes 176 horsepower and 295 pound-feet of torque. Manual and automatic transmissions are available, with the latest versions each offering six speeds. The Triton marks a return for the company's Ralliart banner. Though Mitsubishi had been rally racing since the 1960s, the Ralliart name only made its debut in 1981. The dedicated motorsports arm allowed the company to build and campaign models like the Lancer and Galant VR-4 in international rally races, ultimately leading to a slew of World Rally Championship wins, and an equally impressive string of victories at the Paris-Dakar Rally.  Ralliart folded up in 2010 after the global financial crisis and lay dormant for over a decade. Last year Mitsubishi quietly revived the brand, revealed a concept, released a lineup of accessories for its vehicles (available only in Asia) and hinted at a racing comeback. The Triton is the first Ralliart-branded vehicle since the revival. Mitsubishi didn't reveal what modifications were made to the Triton. One encouraging sign, however, is the fact that the rally team is headed by Hiroshi Masuoka, a long-time Mitsubishi driver who won the Paris-Dakar twice. Masuoka was also a test driver who helped develop the Pajero (known in the U.S. as the Montero). Sadly, the Pajero factory was sold last week to a toilet paper manufacturer, but perhaps Masuoka can recapture a bit of Mitsubishi's past glory with the Triton, even if he's essentially starting from scratch. The Triton effort, and yesterday's announcement that Mitsubishi was donating 1 million euros to aid Ukrainian refugees, suggests Mitsubishi feels it is in a better place financially.