1988 Mitsubishi Starion on 2040-cars

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Renault to alert prosecutors about Carlos Ghosn's wedding costs

PARIS — Renault has found evidence that it paid part of Carlos Ghosn's wedding costs and is preparing to turn the investigation over to prosecutors, two weeks after the French carmaker's scandal-hit chairman and chief executive was forced out. An internal probe established that a 2016 sponsorship deal with the Chateau de Versailles included a 50,000 euro ($57,000) personal benefit to Ghosn, the carmaker said on Thursday, confirming a report in Le Figaro. The carmaker replaced Ghosn on Jan. 24, more than two months after his arrest in Japan over allegations of financial misconduct uncovered by Renault's Japanese affiliate Nissan, which he also chaired. Renault began its own examination of payments to Ghosn within days of his detention but had not flagged any irregularities until now. Renault has discovered that "Mr Ghosn was accorded a personal benefit valued at 50,000 euros under the terms of a sponsorship contract with the Chateau de Versailles," the company said in a statement on Thursday. "Renault has decided to bring these findings to the attention of the judicial authorities." The office of Ghosn's Japanese lawyer Motonari Otsuru did not immediately respond to a request for comment. Ghosn remains in detention in Tokyo with limited opportunity to respond publicly to allegations against him. Renault had agreed before the wedding to sponsor 2.3 million euros of Versailles renovations in return for a credit granting the carmaker services from the chateau worth 25 percent of that amount, or 575,000 euros, a person with knowledge of the matter told Reuters. Le Figaro reported that the chateau allowed Ghosn to host his wedding reception on its grounds in exchange for Renault's donations to the Versailles estate, resplendent home to France's last kings. The rental fee was deducted from Renault's credit for use of the Grand Trianon at Versailles on Oct. 8, 2016, when Ghosn and his second wife Carole hosted their wedding reception at the 17th-century palace, the source said. The event had already attracted public attention for its opulence and Marie Antoinette-themed costumes. The Renault board was informed about the discovery on Wednesday, as reported by Le Figaro, the source added. Earnings/Financials Government/Legal Mitsubishi Nissan Renault renault-nissan

James May was hospitalized after Mitsubishi Lancer Evolution crash

British auto journalist and TV host James May was reportedly whisked to the hospital after a crash during filming of The Grand Tour. The presenter was said to have been driving a yellow Mitsubishi Lancer Evolution VIII at 75 mph when he crashed into a tunnel wall.  Fortunately, The Sun reports that May, 59, broke a rib during the crash and required x-rays and a brain scan before being released from the hospital in mostly good health. This was not always the case with the former BBC Top Gear hosts. Famously, Richard Hammond received severe injuries from a 2006 crash at 280 mph in a drag racer. Hammond was also involved in a fiery crash of a Rimac One in 2017, but walked away mostly uninjured.  The details of the crash are a bit vague, but apparently it involved a challenge where May was supposed to drive the Evo down a long tunnel at a naval base in Norway. The Sun describes the stunt as taking place in the pitch black passage, with lights only illuminating as the car drove by. With mere seconds to react, May was unable to brake in time from 75 mph and slammed the Evo into a wall. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The segment apparently involved May, Hammond, and Jeremy Clarkson taking AWD sedans to the Arctic Circle. Two other cars have been posted to social media by Clarkson himself and by fans, as discovered by Motor 1. Those cars are a Subaru Impreza WRX STI and an Audi RS4. After the Evo's destruction, the Subaru and Audi continued on without it. The cars were driving in Norway six months ago, but May's hospitalization is only now coming to light.  Thankfully Captain Slow, as May is nicknamed, is alright. As for the state of the increasingly endangered Evo, however, we'll just have to wait until the next season of Grand Tour airs.

Japanese automakers welcome North American trade deal, fear what's next

TOKYO — Toyota, Nissan and Mazda welcomed on Tuesday the revised North America trade deal that left Japanese automakers unscathed, but they may face a bumpy ride when Washington and Tokyo hold new talks on over $40 billion of annual U.S. auto imports from Japan. The United States and Canada reached an agreement on Sunday to update the 1994 North American Free Trade Agreement after Washington had forged a separate trade deal with Mexico in August. The updated deal effectively maintains the auto industry's current footprint in North America, and spares Canada and Mexico from the prospect of U.S. national security tariffs on their vehicles. Mazda, which ships cars to the United States from Mexico and Japan, called the deal a "big step forward". Nissan, which makes the cars it sells in the United States locally as well as in Mexico, Japan and other countries, said it was "encouraged" by the agreement. Toyota, Japan's biggest automaker, said it was "pleased" that a basic deal was reached. Other automakers were not immediately available for comment. While the deal has removed the risk that the disintegration of the pact would have posed to automakers, bigger risks loom large for Japanese firms as a chunk of the roughly 7 million cars they sold in the U.S. last year were shipped from Japan, and a trade deal between Washington and Tokyo has yet to be agreed. The United States and Japan last week agreed to begin fresh trade talks, with U.S. President Donald Trump seeking to address Japan's $69 billion trade surplus, of which nearly two-thirds comes from auto exports. Washington is also investigating the possibility of slapping 25 percent tariffs on auto imports on national security grounds, although it has agreed with Japan to put any new tariffs on hold during the talks. Analysts say the United States may take a tougher stance on auto imports from Japan than from its neighbors. "If Japan requests an exemption from the 25 percent tariffs under consideration, Washington could propose a more strict cap on imports than it agreed to with Mexico and Canada," said Koji Endo, senior analyst at SBI Securities. "That would be a risk." This could be a big blow to Japan, as the United States is a key source of revenue for Japanese automakers including Toyota, Nissan and Honda. The U.S. market accounts for a quarter or more of their annual global vehicle sales, and of their total U.S.