Ghosn Puts on Third ‘Mr. Chairman’ Hat as Nissan Officially Requires Handle of Mitsubishi

2016 Mitsubishi Outlander

Mitsubishi has officially tied the knot with its savior, making Renault-Nissan chairman Carlos Ghosn the only automotive executive in the globe (and possibly the galaxy) to head 3 businesses.

The $ two.29 billion deal gives Ghosn’s Renault-Nissan alliance a 34 % controlling stake in Mitsubishi — a monetary lifeline for the struggling, scandal-plagued automaker. Currently, the company’s new chairman (and demoted former chair) have large, large plans for the Mirage maker.

Nissan-sized plans.

In addition to Ghosn plunking himself in the driver’s seat, 3 Nissan executives join Mitsubishi’s 11-member board. Trevor Mann, Nissan’s former chief performance officer, is now the new CEO. The automaker’s quite apologetic former chairman and president, Osamu Masuko, keeps his “president” title, but nothing else.

Of course, all of this job shuffling nevertheless demands the green light from Mitsu shareholders. That ought to come in December.

What does the entry into the Alliance imply for Mitsubishi? The world, apparently. Earlier this month, Ghosn stated the largest impact would be felt in America. By tapping into Renault-Nissan’s engineering prowess and adopting its platforms and engines, the influence on Mitsubishi will be “massive,” he claimed.

As Ghosn dreams up the ideal way to inject new product life into Mitsubishi, Masuko’s mind is on reputation and all-essential finances. In a statement, the organization president claims the deal will “rebuild client trust in our company and maximize potential future synergies,” with savings beginning proper off the bat.

He expects to recognize nearly a quarter-billion dollars in savings (“synergies” in executive speak) subsequent year alone, and predicts a profit margin boost of 5 % in the subsequent 3 years. Speaking at the announcement, Masuko said he desires the brand to reach exactly where Nissan is nowadays. Or attempt to, at least.

The deal’s positive aspects are not Mitsubishi’s alone. Nissan, which lags in the hybrid technologies department, gains its new partner’s sophisticated plug-in hybrid technique, which Ghosn says will become the regular of the alliance. That program is at the heart of the company’s Outlander PHEV, a wildly common model in Europe that’s on a extremely slow boat to the U.S.

Nissan also plans to make inroads in underperforming markets, which includes southeast Asia, exactly where a rebadged Mitsubishi minivan will quickly go on sale.

[Supply: Automotive News Europe] [Image: Mitsubishi Motors]

Auto Reviews – The Truth About Cars

The Honda CR-Z Is Officially Dead In Canada

2016 Honda CR-Z

2016 will be the final model year for the extraordinarily slow-selling Honda CR-Z in Canada. Honda Canada spokesperson Maki Inoue confirmed that the CR-Z is completed, indirectly supplanted in Honda Canada’s lineup by the reborn Honda Accord Hybrid.

“As Honda aligns its solution portfolio to very best take benefit of growth opportunities in the marketplace, it will add a new Accord Hybrid, and discontinue CR-Z this year,” Inoue told GoodCarBadCar earlier this afternoon.

Of course, we knew the CR-Z was completed for. Separate articles on TTAC earlier nowadays made mention of an American Honda spokesperson’s impression that the CR-Z was currently dead and the glut of CR-Z inventory of which Honda dealers need to now rid themselves.

News that the CR-Z is dead north of the border is thus no surprise, particularly given the car’s disastrous reception in Canada. You believed the two-seat, hybrid hatchback was unpopular in the American marketplace? Oh, Canada: in comparison with their northerly neighbors, Americans were downright enamored with the Honda CR-Z.

Think about this: Americans purchase around nine times much more new automobiles than Canadians, but CR-Z sales in the United States were 25 times stronger than Canadian sales more than the vehicle’s lifespan.

It’s not that Canadians won’t buy Hondas. Much more than 11 percent of the new passenger cars sold in Could have been Civics. Indeed, the Civic has been Canada’s very best-selling auto in every single of the final 18 years.

But the CR-Z, underpowered and not as effective as you’d count on a two-seat hybrid to be, did Honda Canada no favors.

Timothy Cain is the founder of GoodCarBadCar.net, which obsesses over the free of charge and frequent publication of U.S. and Canadian auto sales figures. Follow on Twitter @goodcarbadcar and on Facebook.

Car Critiques – The Truth About Automobiles