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Carlos Ghosn's arrest casts doubt on future of Renault-Nissan alliance

For years, France's Renault and Japan's Nissan struggled to make money in the global auto business. Then came Carlos Ghosn, a Renault executive who helped to orchestrate an unprecedented transcontinental alliance, combining parts of both companies to share engineering and technology costs. Now Ghosn's arrest in Japan for alleged financial improprieties at Nissan could put the nearly 20-year-old alliance in jeopardy. Ghosn, 64, born in Brazil, schooled in France and of Lebanese heritage, is set to be ousted this week from his spot as Nissan chairman. He could also lose his roles as CEO and chairman of Renault, threatening the alliance formed in 1999 that's now selling more than 10 million automobiles a year. He's been "the glue that holds Renault and Nissan together," Bernstein analyst Max Warburton wrote in a note to investors. "It is hard not to conclude that there may be a gulf opening up between Renault and Nissan." In fact, Nissan's investigation into alleged misconduct by Ghosn is expanding to include Renault-Nissan finances, sources told Reuters — in a further sign that Nissan may seek to loosen its French parent's hold on their global carmaking alliance. Nissan told Renault's board on Monday it had evidence of potential wrongdoing at Renault-Nissan BV, the Dutch venture overseeing alliance operations under Renault's ultimate control, three people with knowledge of the matter said. Renault's board planned to meet Tuesday to discuss Ghosn's fate. "Carlos Ghosn is no longer in a position where he is capable of leading Renault," French Finance Minister Bruno Le Maire told France Info radio, calling on Renault's board to meet "in the coming hours" to set up an interim management structure. The French government owns 15 percent in Renault and has a say in its operations. Nissan's board is to meet Thursday to consider Ghosn's fate. Nissan has said it will dismiss Ghosn after he was arrested for allegedly abusing company funds and misreporting his income. That opens up a leadership void at the entire alliance, for which Ghosn officially still serves as CEO and chairman. Ghosn added Mitsubishi to the alliance two years ago after the tiny automaker was caught in a gas-mileage cheating scandal. Renault owns 43.4 percent of Nissan, which owns 15 percent of Renault, with no voting rights in a partnership that began in 1999. Since 2016, Nissan has held a 34 percent controlling stake in Mitsubishi Motor Corp.

Consumer Reports says these are the worst new cars of 2014

Consumer Reports has announced its annual list of worst vehicles, a cringe-inducing contrast to its list of top vehicles. Ignominiously leading the way in 2014 is Chrysler, which has a staggering seven models listed.
Jeep nearly sweeps the small SUV segment by itself, with its Compass, Patriot and 2.4-liter version of the new Cherokee, while the only midsize sedans listed by CR were the Chrysler 200 and Dodge Avenger. The new Dodge Dart and the Dodge Journey round out CR's condemnation of Chrysler.
Ford is taking heat as well, with the Taurus, Edge and their counterparts from Lincoln all listed as the worst vehicles in their respective segments. Toyota doesn't fare much better, with its Lexus IS, Scion iQ and tC also making the list.

Mitsubishi dealers would really like a truck to sell

While Mitsubishi is switching gears to focus on crossovers, that won't address a market that its dealers would like to be in. While answering questions from the press last night, Don Swearingen, executive vice president and COO of Mitsubishi's North American office, mentioned that its US dealers have a pickup truck high on their "shopping lists." In fact, he said that a truck is pretty much at the top. Mitsubishi does already have a small pickup truck it sells in foreign markets, badged as the Triton or L200. However, Swearingen said that just because dealers want a truck doesn't mean it's going to happen, citing various obstacles to bringing one to market. If, for example, Mitsubishi brought over the Triton, the company would have to go through the long, expensive process of certifying it for US safety and emissions regulations, not to mention making sure it fulfilled American buyers' demands. There's also the Chicken Tax, which levees a steep tariff on trucks built outside of the US and imported in. One possible way Mitsubishi could circumvent all of those issues, though, would be to leverage its new partnership with Nissan. Nissan already sells Frontier small pickups in the US, and Mitsubishi could simply redesign that model to suit its style. It's something that both companies are familiar with as well. Mitsubishi previously sold a restyled Dodge Dakota as the Raider, and Nissan allowed Suzuki to rebrand the Frontier to be sold as the Equator for a short time. It would certainly be a quick way to get into the truck market. However, Mitsubishi would also need to decide if such a product would actually be profitable, in addition to satisfying dealers. Related Video: