Report: Nissan in talks for possible takeover of Mitsubishi Motors

[Monseratto]

Nissan Montero anyone?

http://www.autoindustriya.com/auto-i...hi-motors.html

Text: Brent Co | posted May 12, 2016 09:39

Nissan planning to acquire controlling stake in Mitsubishi amidst fuel scandal

Nissan Motor Company is reportedly investing 200 billion yen ($1.84 billion) to acquire a 34% controlling stake in embattled Mitsubishi Motors Corporation (MMC), the latter having been rocked by a scandal involving falsified fuel-economy ratings.

The talks between the two automakers are now in the final stages according to Japanese broadcast network NHK through an insider who wished anonymity.

Last month, Mitsubishi Motors admitted that its employees manipulated fuel economy data in four mini-car models. Company president and COO Tetsuro Aikawa personally led the company to apologize for the wrongdoing and promised to conduct further investigation into the matter.

In a press briefing Wednesday at the Japanese Transport Ministry, Chairman Osamu Masuko nine more models may be affected by the fuel-economy issue, including the RVR crossover. But they will still conduct proper tests to further conclude results. Masuko reassured that models sold overseas are properly tested and expects no impact on overseas sales.

As promised, Mitsubishi Motors has established a third-party panel to investigate the false fuel-economy labeling. They are expected to take three months to complete their findings. The committee is composed of three lawyers, including a former member of the Tokyo High Prosecutors Office.

Mitsubishi Motors will be compensating affected customers for the fuel cost difference in affected mini-car models. It will only cover owners of the four initial models in question, however. This was revealed by Aikawa on Wednesday.

Vehicle sales and its share prices have since plunged after news of the scandal broke out three weeks ago. Masuko stated that Mitsubishi Motors plans to solve the crisis on its own. It has not sought support from other Mitsubishi group of companies. The chairman of the company said they should be able to handle compensation with their own resources.

[CVT]

Nissan Montero anyone?

http://www.autoindustriya.com/auto-i...hi-motors.html

Mr. Bean is behind all of this....






"The measure of a man is what he does with power" LJIOHF!

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[Monseratto]

Many are now dreaming of a bastard of a Lancer Evolution and a Nissan GTR...hehehe.

[Egan101]

Many are now dreaming of a bastard of a Lancer Evolution and a Nissan GTR...hehehe.

Why not? An all-wheel-drive sedan with the GT-R engine! If Audi can make wonders with the insane RS4 and RS6 with its high output turbo engines and AWD system, maybe Nissan can break barriers and come up with something like it.

[111prez]

Introducing, the new Nismit Navatero

[Monseratto]

So Nissan now have management control of Mitsubishi... Paano yung mga Mitsubishi outside of Japan?

Nissan and Mitsubishi Confirm $2 Billion Deal
VOA News
May 12, 2016 5:17 AM

Nissan Motor Co. agreed on Thursday to take a 34 percent stake in Mitsubishi Motors Corp. as the company attempts to recover from a fuel economy scandal.

Leaders of the two automakers appeared at a last-minute press conference Thursday in Yokohama, Japan – home of the Nissan headquarters – to announce what Nissan CEO Carlos Ghosn called a “win-win” deal.

“This will be a dynamic cooperation between two major Japanese car manufacturers, enabling us to harness the respective capabilities of our companies,” he said. “At Nissan we are determined to preserve and nurture the Mitsubishi motors brand, and we will help this company address the challenges it faces – particularly in restoring consumer trust in its fuel economy performance.”

Mitsubishi already manufactures minicar models for Nissan that are an important part of its Japanese sales. Acquiring a major stake in Mitsubishi will also give Nissan more exposure to Thailand and other Southeast Asian countries.

According to Ghosn, Nissan will invest $2.2 billion into the company, making it Mitsubishi’s largest investor.

Last month, Mitsubishi admitted that several of its employees fudged the numbers on its fuel economy data, making several models appear to get better gas mileage than they actually do. Some of the cars that had their data manipulated showed fuel economy that was about 15 percent better than in reality.

The companies expect to complete the agreement by May 25.

Mitsubishi, the world's sixth-largest automaker has about half of its market value since news of the fuel-rigging scandal broke.

The company is no stranger to scandal, nearly going out of business after admitting back in 2000 that it covered up major safety defects for several decades.

Mitsubishi is the second carmaker accused of falsifying environmental data in the 12 months. Germany's Volkswagen admitted late last year that it installed software on millions of its vehicles that activated bogus emissions controls to deceive testing officials.

Nissan and Mitsubishi Confirm $2 Billion Deal

[papi smith]

[COLOR="#008080"]

Mr. Bean is behind all of this....

Hehe, may hawig nga si Pareng Caloy

[vinj]

Patrol Sport and Lancer Evolution GTR FTW. :D

[chronicle]

I think they will he synonymous to how hyundai and kia work.

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Mitsu and nissan can compliment each other here. Given mitsus foothold here and how nissan is striving to gain again philippine market share. I say win win ito.

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[kagalingan]

Oh ayan nasaan na yung mga nagmamalaki na "lets us just listen to mitsubishi engineers"

Bangkarote na pala mitsu. Sasaluhin na ng nissan.

By the way bakit ganyan yung design nung bago montero. Yung likod bakit ang design meron dalawa saklay. Pati sa design disgrasya iniisip ng mitsubishi. hahahahah

Nag-gagandahan design ng mux, trailblazer, fortuner tapos nagpaiwan kayo.

[jaggerx3]

Oh ayan nasaan na yung mga nagmamalaki na "lets us just listen to mitsubishi engineers"

Bangkarote na pala mitsu. Sasaluhin na ng nissan.

By the way bakit ganyan yung design nung bago montero. Yung likod bakit ang design meron dalawa saklay. Pati sa design disgrasya iniisip ng mitsubishi. hahahahah

Nag-gagandahan design ng mux, trailblazer, fortuner tapos nagpaiwan kayo.

They'll use 10w30 in honor of you.
kagalingan 10w30 oem of mitsubishi

Sent from my LG-H818 using Tapatalk

[kagalingan]

Kung nakinig sila agad kaso. Its too late na.

Madami na nadamage.

Hello engineer quack quack. hahahahha

[ice15]

Although denied by both Nissan and Mitsubishi, if there's smoke...

Nissan said to explore possible sale of stake in Mitsubishi | Automotive News Europe

[Egan101]

Is Mitsubishi not profitable? Nissan wouldn’t think of selling it if it’s bringing in the profits.


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[17Sphynx17]

Is Mitsubishi not profitable? Nissan wouldn’t think of selling it if it’s bringing in the profits.


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I tried to check because I recall Mitsubishi is pulling out of 2 major markets, US and Europe. Found these 2 links.

Mitsubishi to pull out of the UK and other European markets - NK Media

Is Mitsubishi Pulling Out of the North American market?

So Mitsubishi itself is "downsizing" and concentrating in the markets where they are still "relevant".

This possible selling of the Mitsubishi stake might be because Nissan wants to have more cash in reserve because they are still in the red and working at a deficit.

Nissan reports first-half results for fiscal year 22

But that's my guess and who knows if the rumor of Nissan trying to sell their Mitsu stake will happen at this time.

[Egan101]

Surely any of the bigger China car manufacturers will buy Mitsubishi.


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[17Sphynx17]

Surely any of the bigger China car manufacturers will buy Mitsubishi.


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This I will be curious about.

Has any chinese company been able to buy a big known Japanese brand to be under their umbrella/management?

I would be expecting the Japanese to be hesitant/reluctant about this happening and another Japanese conglomerate might step in for it to not happen given that they have "history"

[StockEngine]

Surely any of the bigger China car manufacturers will buy Mitsubishi.


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The japanese prime minister will probably block this.

There were articles about merging Nissan & Honda back in August.