2004 Mitsubishi Lancer Ralliart Sedan 4-door 2.4l on 2040-cars

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Automakers Renault, Nissan will become equals, with equal stakes in each other

TOKYO — Nissan and Renault have agreed to equalize the stakes they hold in each other, both sides said Monday, ironing out a source of conflict in the Japan-French auto alliance. Up to now, Renault Group has held a 43.4% stake in Nissan Motor Co., potentially giving it a larger say in how the Japanese automaker is run. It will transfer shares equivalent to a 28.4% stake to a French trust so each side will hold the same 15% stake in the other, according to the companies. The disparity between the holdings was a cause of friction, especially after Nissan became far more profitable than Renault. The agreement on the change is still being finalized and needs board approval from both companies. The companies said the shares in the French trust can eventually be sold but did not say to whom or how. They said the sale will be carried out in a “coordinated and orderly process” if a deal makes commercial sense to Renault Group, and that there is no time deadline. Until then, the voting rights would be “neutralized” for most managerial decisions, but the economic rights, such as dividends, will continue to go to Renault, the companies said. The top shareholder in Renault is the French government. Japanese Prime Minister Fumio Kishida met with French President Emmanuel Macron earlier this month. The alliance has had its ups and downs since it began in 1999, when Renault sent one of its executives, Carlos Ghosn, to then-struggling Nissan to lead a turnaround. Ghosn first served as Nissan's chief executive and later its chairman before he was arrested in late 2018 on various financial misconduct charges. The alliance, which also includes smaller Japanese automaker Mitsubishi Motor Corp. and remains one of the world's top auto groups, has been eager to put the Ghosn scandal behind it. Allegations against Ghosn include underreporting income, using investment funds for personal gain and illicit use of company expenses, including overseas homes and a yacht. Ghosn said he is innocent of all charges. He jumped bail in late 2019 and is now in Lebanon, which has no extradition treaty with Japan. The equalization of the crossholdings has been speculated about for some time. The companies called the move “an important milestone.” “The ambition is to strengthen the ties of the alliance and maximize value creation for all stakeholders,” said Nissan, based in the port city of Yokohama.

Look what West Coast Customs did to a 100-year-old Mitsubishi Model A

A hundred years ago, Mitsubishi made its first car, called the Model A. Back in April of this year, the automaker said it would update an example of that original model, electrifying it with the help of West Coast Customs. The result is the Mitsubishi Re-Model A, which combines old-school looks with the automaker's plug-in hybrid powertrain borrowed from the Outlander PHEV. To make room for the Outlander PHEV's chassis, West Coast Customs had to stretch the body of the Model A, while attempting to retain as much of its original form as possible. Once that was completed, they gave the car new door panels and modern steering wheel and parking brake. With two drive motors, the Re-Model A gets Mitsubishi's Super All-Wheel Control. The resulting car is a little funky looking. It's got wide, modern wheels and tires that look out of place. The front end takes on a new shape that looks odd from certain angles. On the plus side, it's probably faster and better to drive (depending on your perspective) than the original, which had a 2.8-liter four-cylinder engine producing 35 horsepower. We drove the 2018 Mitsubishi Outlander PHEV that the Re-Model A gets its chassis from, and enjoyed it quite a bit. Still, watching the mechanics tear down a 100-year-old vehicle — which will never be the same again — makes us cringe. Mitsubishi has a microsite devoted to the Re-Model A if you'd like to learn more. Related Video:

Minnesota couple puts 414k miles on a 2014 Mitsubishi Mirage

A couple in Minnesota just traded in their 414,000-mile 2014 Mitsubishi Mirage, which is notable for any car, topping many of the Junkyard Gems we've featured. We were also impressed because that's a lot of miles in a car that we weren't especially fond of. But the couple that owned it, Jerry and Janice Huot, clearly liked it. Dubbed the "Purple Won" in a nod to Prince, the subcompact endured six upper Midwest winters as an all-purpose utility and delivery vehicle. "I always loved the comments at gas stations and grocery stores and waves from people as I’d drive by," Jerry said. "Kids would always stop and point. Everybody seemed to love that car; it would make everyone smile whenever they saw it." The Huots were repeat Mitsubishi buyers in search of something with better fuel efficiency than their Cadillac. While Mitsubishi didn't specify which model the Huots traded in, it's safe to say that whatever it was, the 2014 Mirage would have been a significant upgrade in that respect, as it was rated at 37 mpg in the city, 44 on the highway and 40 combined when it was sold new; the EPA has since re-rated it at 36/42/39.   "Right in the middle of the showroom was this little purple Mirage that got 44 mpg," Janice told Mitsubishi. "IÂ’d had an Outlander Sport and Montero Sport before and loved them, so it seemed like a good choice. We drove the Mirage home that day, right off the showroom floor." "Janice drove it mostly for the first 7,000 miles or so, but when winter came, she wanted all-wheel-drive, so she got a 2015 Mitsubishi Outlander Sport," Jerry says. "But then I started using the Mirage for my business. I am a courier. I deliver samples from various doctorsÂ’ offices to labs, so I drive up and down the state and around town in Minneapolis all the time. The Mirage never missed a beat. It got me up and out of our gravel driveway, even in the middle of winter, when others got stuck in the snow." According to the Huots, the Mirage only needed two noteworthy repairs on its way to 414,000 miles: a replacement starter motor between 200,000 and 300,000 miles and a new set of wheel bearings some time after 150k, both of which they say were addressed under warranty. We checked with Mitsubishi, who confirmed that the Huots purchased an extended warranty from the dealership, hence the coverage of failed items at such high mileage. Apart from that, the Huots say it has needed only regularly scheduled maintenance. What replaced it? Another Mirage, predictably.