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Thread: Nissan to take control of Mitsubishi following fuel economy scandal

  1. #11
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    love to see a full takeover. I think the 10 year viability of my warranty is enhanced by a full combination. My biggest reservation in buying the Mirage was whether Mitsu would last in NA for 10 years. Minority position is nice, but would love to see a full acquisition.



  2. #12
    Moderator Eggman's Avatar
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    Quote Originally Posted by Cobrajet View Post
    Hmmm...if this was Nissan's end-game all along, it was a smart one.
    Diabolical if it works.

    I read in one article that Mitsubishi Motors parent company was reluctant to loan money because of this, so not everyone approves of MMs business practices.

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 49.6 mpg (US) ... 21.1 km/L ... 4.7 L/100 km ... 59.5 mpg (Imp)


  3. #13
    Moderator Eggman's Avatar
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    Forgive my dissent, but a 30% ownership stake does not constitute a takeover. It may be a good investment and a vote of confidence in a business partner, but not a takeover. 51% would make it a takeover.

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 49.6 mpg (US) ... 21.1 km/L ... 4.7 L/100 km ... 59.5 mpg (Imp)


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  5. #14
    Moderator Eggman's Avatar
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    Looks like the Reuters article has been updated:

    Nissan to take key stake in scandal-hit Mitsubishi Motors: sources

    Quote Originally Posted by Reuters Business | Thu May 12, 2016 4:06am EDT | TOKYO | By Maki Shiraki and Naomi Tajitsu
    ...One of the sources said Mitsubishi had approved the deal at a board meeting earlier in the day. Nissan's board was also due to meet on Thursday, a scheduled gathering before the company releases quarterly earnings.
    ...
    Sources familiar with the talks said Nissan could invest about $1.8 billion to buy roughly a third of Mitsubishi - potentially enough to wield control, under Japanese rules.
    ...
    Mitsubishi Motors said on Wednesday said it had enough cash to weather the fuel-economy scandal - but also warned that non-compliant data may have been used to calculate the fuel economy for more of its cars than previously announced.

    After Mitsubishi admitted last month to overstating the fuel economy of four of its mini-vehicle models, analysts estimate the automaker is facing up to $1 billion in compensation payments to its customers, along with payments to Nissan.

    Mitsubishi halted production of the models last month.
    This directly affects Nissan. They have good reason to restart production of their little cars.

    I must also stand corrected - that under Japanese rules, a one-third stake in ownership is "potentially enough to wield control."

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 49.6 mpg (US) ... 21.1 km/L ... 4.7 L/100 km ... 59.5 mpg (Imp)


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  7. #15
    Moderator Eggman's Avatar
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    More articles from Reuters on the matter:

    Business | Thu May 12, 2016 2:19am EDT | Nissan, Mitsubishi Motors confirm talks over capital tie-up

    Business | Thu May 12, 2016 1:13am EDT | Mitsubishi Motors, Nissan agree to form capital alliance: source
    Quote Originally Posted by Reuters Business
    Mitsubishi Motors Corp (7211.T) has agreed to form a capital alliance with Nissan Motor Co (7201.T) at its board meeting on Thursday, a source familiar with the matter told Reuters.

    The source said the two companies would hold a joint news conference later in the day, but gave no further details.

    Sources familiar with the matter had said overnight that Nissan was considering taking a controlling stake in scandal-hit Mitsubishi. The two sides later confirmed they were in talks, without providing details.

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 manual: 49.6 mpg (US) ... 21.1 km/L ... 4.7 L/100 km ... 59.5 mpg (Imp)


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  9. #16
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    I just saw this on Auto blog as well. http://www.autoblog.com/2016/05/12/n...ubishi-report/

        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 automatic: 42.5 mpg (US) ... 18.1 km/L ... 5.5 L/100 km ... 51.1 mpg (Imp)


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  11. #17
    Yup. Looks like it's happening.


    Nissan buying $2.2 billion controlling stake in scandal-hit Mitsubishi Motors

    Nissan Motor Co has agreed to buy a 34 percent stake in Mitsubishi Motors Corp, taking de facto control with a $2.2 billion bet that bails out its smaller, scandal-hit rival.

    ...

    Ghosn said improving performance in kei cars, a Japanese category of small cars, was one key reason for the deal.

    ...

    "The biggest benefit to Nissan would be Mitsubishi's presence in Southeast Asia," said Koji Endo, autos analyst at Advanced Research Japan.
    Source: http://ca.reuters.com/article/busine...0Y227F?sp=true

    Apparently Nissan doesn't do well in fast-growing SE Asian markets like the Philippines, which loves, loves, loves Mitsu. This deal gets them better results.

    Also interesting: adding Mitsubishi to the existing Nissan/Renault partnership brings it close to being a top volume manufacturer, up there with Toyota & VW.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 63.2 mpg (US) ... 26.9 km/L ... 3.7 L/100 km ... 75.9 mpg (Imp)


  12. #18

    Mirage sedan delayed? If true, just a coincidence?

    As far as the North American market goes, the Mirage hatchback fills a niche that Nissan doesn't currently compete in (however in Canada, the Nissan Micra competes directly against the Mirage -- and dominates sales).

    However, in the States the Mirage G4 sedan will compete against the segment's best-seller, the Nissan Versa sedan. I wonder if it's a coincidence that cinder reported the introduction of the Mirage G4 sedan is being delayed in the U.S.

        __________________________________________

        click to view fuel log View my fuel log 2014 Mirage ES 1.2 manual: 63.2 mpg (US) ... 26.9 km/L ... 3.7 L/100 km ... 75.9 mpg (Imp)


  13. #19
    Rally Runner RedRage's Avatar
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    Do you think we'll see a performance car platform between the two in the future?
    This is also funny to me because before Mitsu was trying to partner with Peugeot (or Citroen PSA) who is a rival of Renault who owns Nissan. They never made any ties aside from factories they share in Russia, and sharing the I-MIEV and rebadging it for PSA. But with the full integration of the companies, they'll share all of their technologies for the first time. NMKV gets tech sources from each but doesn't really "compare notes" between the two. With Mitsubishi and Nissan's tech in AWD and traction control I'd love to see something crazy in a few years. Not to mention their transmission tech.

  14. #20
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    I can see this being great for Mitsubishi USA. Not so sure about Nissan USA but they are probably more concerned with Asian markets. Maybe now we will get a new Lancer (Sentra) and a Galant (Altima). Now Mitsu will have more access to platforms and engines so they can truly have a comeback. They can even get a new Eclipse out of one of their platforms or even use the platform from the Z as a new 3000GT. The possibilities are endless.


        __________________________________________

        click to view fuel log View my fuel log 2015 Mirage ES 1.2 automatic: 42.5 mpg (US) ... 18.1 km/L ... 5.5 L/100 km ... 51.1 mpg (Imp)


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