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

  1. #41
    Next week, Nissan makes official its purchase of a 34 percent controlling stake in the embattled automaker, after announcing a $2.2 billion share-buying plan on May 12. Mitsubishi’s board of directors will see a Nissan-appointed chairman and a host of new directors join the table.
    http://www.thetruthaboutcars.com/201...onomy-scandal/


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        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)


  2. #42
    Moderator Eggman's Avatar
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    I would not be pleased if I owned Mitsubishi Motors stock. Not only did their willful deceit diminish the value of the investment, it is further diluted with the increase in shares being made for this stock sale exclusively to Nissan. In other words, the extra shares are not being offered on the open market.

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        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. #43
    Nissan reviews Mitsubishi fuel economy claims as due diligence continues

    One item Nissan will be looking at, however, is whether Mitsubishi may have misreported fuel economy figures in markets outside Japan, such as the U.S. or Europe, Peter said. “That would be an issue that could cause considerable concern,” he said.


    ...


    So far, Mitsubishi has said the fuel economy problem is limited only to cars sold in Japan.



    http://www.autonews.com/article/2016...-due-diligence

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        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)


  4. #44
    Senior Member HitShane's Avatar
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    Talking about autonomous cars... Do you want to know what really grinds my gears? I always thought I would be alive to see flying cars. I just didn't think driving would be illegal when it happened ;(

    P.S. If Mitsubishi brought back their Raider Pickup and Montero SUV, they would be in favor again. Those things sell for a high $ where I live... Let alone the 3000GT and Eclipse. I see ones on the road that look brand new because people take very good care of them.
    Last edited by HitShane; 06-23-2016 at 07:22 AM.

  5. #45
    This is rich:

    Nissan swooped in and took control of Mitsubishi when stock plummeted after cheating on fuel economy tests was revealed in Japan.

    Today it's Nissan's turn:

    Nissan Shares Tank as It Admits That Some of Its Factories Faked Emissions and Fuel Efficiency Test Data
    http://fortune.com/2018/07/09/nissan...ficiency-data/

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        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)


  6. #46
    Senior Member HitShane's Avatar
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    "Nissan understands and regrets the concern and inconvenience caused to stakeholders as a result of its [inspection process] issues last year."

    -Even here they admit that they are only loyal to the stakeholders in the company. No regret for actual higher pollution or lying to the consumers.

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  8. #47
    Moderator Eggman's Avatar
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    Quote Originally Posted by HitShane View Post
    "Nissan understands and regrets the concern and inconvenience caused to stakeholders as a result of its [inspection process] issues last year."

    -Even here they admit that they are only loyal to the stakeholders in the company. No regret for actual higher pollution or lying to the consumers.
    Wow you're right - good point.

    Except I suppose the term 'stakeholder' could apply to customers & dealers. It'll be interesting to see how this unfolds. Maybe Mitsubishi will buy a controlling stake in Nissan haha.

        __________________________________________

        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)


  9. #48
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    Quote Originally Posted by Eggman View Post
    Wow you're right - good point.

    Except I suppose the term 'stakeholder' could apply to customers & dealers. It'll be interesting to see how this unfolds. Maybe Mitsubishi will buy a controlling stake in Nissan haha.
    On the contrary, you might see Renault try to increase its share of Nissan. Or at least exert more control.

  10. #49
    Senior Member Cobrajet's Avatar
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    They are ALL doing this. Some have been caught already, some will be caught tomorrow. Governments across the world keep insisting that manufacturers find a way to make the 130-year-old technology of the internal combustion engine cleaner and more efficient every year.

  11. #50

    Nissan/Mitsubishi chairman arrested

    Latest chapter in the saga is currently being written...

    Nissan Chairman Carlos Ghosn Arrested Over Alleged Financial Misconduct

    The investigation showed that over many years both Ghosn and Kelly have been reporting compensation amounts in the Tokyo Stock Exchange securities report that were less than the actual amount, in order to reduce the disclosed amount of Carlos Ghosn’s compensation.


    Also, in regards to Ghosn, numerous other significant acts of misconduct have been uncovered, such as personal use of company assets, and Kelly’s deep involvement has also been confirmed.
    Both Renault & Nissan's share prices plummeted on the news (no mention of how it affected Mitsu's) .


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        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)


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    Daox (11-19-2018)

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