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2020 Mitsubishi Outlander Sport gets another refresh at Geneva

A mysterious electric SUV isn't the only vehicle Mitsubishi is bringing to the Geneva Motor Show. The company is also showing a refreshed 2020 Mitsubishi Outlander Sport (or ASX as it's known in some markets). And yes, despite the fact the Outlander Sport hasn't been completely redesigned since its introduction in the 2011 model year, Mitsubishi is only giving it a mild update. Up front, the entire fascia is changed with all-new headlights, grille and front bumper. It's all more angular, and appears to be a blend of the Eclipse Cross and that electric SUV concept teased recently. It's easily the most successful part of the refresh. The sides are unchanged save for some chrome fake fender vents. The back features new LED taillights and a rear bumper with a faux skid plate rather than a faux diffuser. The inside is almost unchanged except for the new infotainment screen. At 8 inches, it's an inch larger than the old model. It also has the ability to play videos from a USB flash memory stick when the car is parked. Powertrain options for the U.S. haven't been announced, but we expect it will use the same 148-horsepower 2.0-liter four-cylinder currently available, plus its associated drivetrains. The current model can be had with either front- or all-wheel drive, with just a CVT on all-wheel drive models, and an available manual on front-driver versions. One final interesting aspect about the Outlander Sport just getting a refresh again is that it's the best-selling Mitsubishi in America, and the third-best worldwide. It seems strange to give so little love to a relatively successful model. Then again, the crossover has probably mostly paid for itself by now and it keeps selling, so perhaps Mitsubishi is just trying to maximize returns while it works on the smaller next-generation version. Related Video:

Nissan is exploring the sale of its 34% stake in Mitsubishi

TOKYO — Nissan is looking to sell some or all of its 34% stake in Mitsubishi Motors, Bloomberg News reported on Monday, citing unidentified sources, a move that would reshape a three-way alliance that includes France's Renault. Nissan shares rose 5% on the news. Mitsubishi Motors was up 3%. "There are no plans to change the capital structure with Mitsubishi," a Nissan company spokeswoman told Reuters in an emailed statement. A Mitsubishi Motors spokesman said the same, adding the company would continue to collaborate within the alliance. Renault did not immediately respond to an email seeking comment. Nissan, struggling to recover from the pandemic-induced downturn, could sell its stake to a Mitsubishi group company such as Mitsubishi Corp, which already owns a fifth of Mitsubishi Motors, Bloomberg said. Such a deal would fundamentally alter a three-way partnership built by Carlos Ghosn, former chairman of the alliance, which plunged into confusion when he was arrested in 2018 on charges of financial misconduct. Ghosn had wanted a full merger of Renault and Nissan, which was shelved, according to Reuters sources, as the companies decided to fix the troubled alliance. The pandemic has, however, compounded problems and made a recovery hard. Nissan, which is 43% owned by Renault, last week cut its operating loss forecast for the year to March by 28%, helped by a rebound in demand, especially in China. Mitsubishi Motors, Japan's No.6 automaker, expects to post an operating loss of 140 billion yen for the business year. Both companies are cutting production levels and costs in a bid to return to profitability. Related Video:

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.