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Mitsubishi North America distances itself from mileage scandal

Mitsubishi's US operations are keen to distance themselves from the falsified fuel mileage scandal that has brought the whole of Mitsubishi Motors under scrutiny. In a statement released Thursday, MMNA announced that the internal audit of US market vehicles dating back to 2013 has uncovered no wrongdoings. Mitsubishi Motors R&D North America has verified the data previously submitted to EPA, and no vehicles sold in the US from 2013 to 2017 are affected with the fuel data irregularities. According to Mitsubishi, the testing data for the US market vehicles complies with EPA procedures and a different method is used in the United States than Japan to gather fuel mileage figures – something the EPA calls "Road Load Coefficient," and the data is independently verified before submitting. So far, the scandal seems to center on Japanese market cars, even if the findings date back to 1991. Related Video: Mitsubishi Motors North America Statement Regarding Fuel Consumption Testing Data April 27, 2016 Mitsubishi Motors Corporation in Tokyo recently announced irregularities concerning fuel consumption testing data. To confirm that U.S. market vehicles are not affected by this issue, Mitsubishi Motors R&D America, Inc., working together with Mitsubishi Motors Corporation, proactively conducted an internal audit of U.S. market vehicles going back several model years to check previously submitted data to the EPA. After a thorough review of all 2013MY – 2017MY vehicles sold in the United States, we have determined that none of these vehicles are affected. Our findings confirm that fuel economy testing data for these U.S. market vehicles is accurate and complies with established EPA procedures. An entirely different system is used for the United States market to determine what the EPA calls Road Load Coefficient, strictly adhering to EPA procedures. The data generated is then independently verified for its accuracy before being submitted to the EPA for their fuel economy testing. MMNA has shared this information with EPA, California Air Resources Board and DOT. Mitsubishi Motors Corporation has acted quickly to address this issue and is putting in place a committee of external experts to thoroughly and objectively continue this investigation. The results of the investigation, once completed, will be made public.

Nissan and Carlos Ghosn settle SEC claims over undisclosed compensation

WASHINGTON — Nissan and its former Chief Executive Carlos Ghosn have agreed to settle claims from the U.S. Securities and Exchange Commission over false financial disclosures related to Ghosn's compensation, an SEC statement said on Monday. Nissan will pay $15 million, while Ghosn agreed to a $1 million civil penalty and a 10-year ban from serving as an officer or director of a publicly traded U.S. company, the SEC statement said. Ghosn was arrested in Japan and fired by Nissan last year. He is awaiting trial in Tokyo on financial misconduct charges that he denies. Former Nissan human resources official Gregory Kelly agreed to a $100,000 penalty and a five-year officer and director ban. Nissan, Ghosn, and Kelly settled without admitting or denying the SEC's allegations and findings. The SEC said in total Nissan in its financial disclosures omitted more than $140 million to be paid to Ghosn in retirement — a sum that ultimately was not paid. The SEC also accused Ghosn in a suit filed in New York that he engaged in a scheme to conceal more than $90 million of compensation. That suit is being settled as part of the agreement announced Monday. Nissan confirmed it had settled the allegations and said it "is firmly committed to continuing to further cultivate robust corporate governance." Nissan provided significant cooperation to the SEC, the agency said. The company now has a new governance structure with three statutory committees — audit, compensation and nomination — and has amended its securities reports for all relevant years. The SEC said beginning in 2004 Nissan's board delegated to Ghosn the authority to set individual director and executive compensation levels, including his own. The SEC said "Ghosn and his subordinates, including Kelly, crafted various ways to structure payment of the undisclosed compensation after Ghosn's retirement, such as entering into secret contracts, backdating letters to grant Ghosn interests in Nissan's Long Term Incentive Plan, and changing the calculation of Ghosn's pension allowance to provide more than $50 million in additional benefits." "Investors are entitled to know how, and how much, a company compensates its top executives. Ghosn and Kelly went to great lengths to conceal this information from investors and the market," said Stephanie Avakian, co-director of the SEC's Division of Enforcement.

Junkyard Gem: 1989 Mitsubishi Galant Sedan

The history of the Mitsubishi Galant in North America goes all the way back to the 1971 model year, when Chrysler imported the first-generation Galant and badged it as the Dodge Colt. Later in the 1970s, we got Galant coupes badged as Dodge Challengers and Plymouth Sapporos, and Mitsubishi began selling Galants (now with front-wheel-drive) with the company's own badging starting in the 1985 model year. The sixth-generation Galant arrived here for the 1989 model year, as a stylish and technology-packed competitor to the Taurus, Camry, and Accord, and it made a fair-sized splash in the automotive world. You'd have a tough time finding one of these cars today, but this '89 appeared in a self-service yard in Phoenix a couple of months back and I was there to document it. 159,385 miles is a respectable total for a 1980s car, and this one looks clean enough to indicate that it had conscientious owners for most of its 31-year life. Check out the dual analog trip counters, the sort of cool little feature Mitsubishi did so well during this era. One of this car's owners (probably its final owner) applied glue-on bling to many locations inside the car. A fairly typical Japanese sedan interior for the late 1980s and early 1990s, though a bit flashier than what Toyota and Honda were doing at the time. The base Galant sedan listed at $10,971 in 1989, versus $12,400 for a Ford Taurus L sedan, $12,105 for a base Chevrolet Celebrity sedan, $11,488 for a base Toyota Camry sedan, and $11,770 for a Honda Accord DX sedan. That was a good price for a competent and fuel-efficient sedan with a modicum of sportiness. Power came from a 2.0-liter 4G63 Sirius four-cylinder rated at 102 horsepower. This engine went into a list of vehicles longer than a Mitsubishi HIIB rocket, everything from the Eclipse to the Great Wall Coolbear, and you can buy a brand-new BAW BJ2022 Brave Warrior with 4G63 power to this day. Protected by the Nassau County PBA and Radio Shack. This car must have begun its career in New York, then moved to Arizona. Some Americans still bought midsize sedans with manual transmissions during this era, but their numbers were in steep decline (Ford stopped selling three-pedal Tauruses, other than the SHO after 1988). This car has an automatic, though I have found a bullet-riddled '91 Galant with a 5-speed during my junkyard travels. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.