Search the Community
Showing results for tags 'Mitsubishi Motors'.
Found 3 results
-
We weren't expecting this: Nissan, the automaker who discovered the manipulation of fuel economy figures at Mitsubishi Motors, is currently in the final stages of buying a controlling stake into the company. According to reports from NHK and the Nikkei Asian Review, Nissan will spend roughly 200 billion Yen (about $1.8 billion) to acquire over 30 percent interest in Mitsubishi Motors. This would make Nissan the largest shareholder in the company, surpassing Mitsubishi Heavy Industries, which currently has a 20 percent stake. This news comes after Mitsubishi announced that all of its models sold in Japan since 1991 may have inflated fuel economy numbers. Since the scandal came to light, shares in Mitsubishi Motors have dropped 43 percent. Sales of Mitsubishi vehicles in Japan have also taken a turn for the worse. Mitsubishi Motors says they have enough money to cover the scandal and will not seek help from Mitsubishi group companies. Why would Nissan want a controlling stake in Mitsubishi? A couple of reasons. One, Mitsubishi vehicles are very popular in markets such as Thailand and Indonesia. In fact, Asia makes 50 percent of the company's group operating profit. There is also talk about the two cooperating on electric vehicles. Both companies will hold board meetings tomorrow to discuss the capital tie-up and how the shares will be distributed. Source: Bloomberg, NHK, Nikkei Asian Review UPDATE: Both Mitsubishi and Nissan confirmed they are in talks this morning in Japan. "Nissan and Mitsubishi are discussing various matters including capital cooperation, but nothing has been decided," according to statements released by both companies. Reuters confirms that the board of both companies will be holding separate meetings today to discuss this issue. Source: Reuters -
We weren't expecting this: Nissan, the automaker who discovered the manipulation of fuel economy figures at Mitsubishi Motors, is currently in the final stages of buying a controlling stake into the company. According to reports from NHK and the Nikkei Asian Review, Nissan will spend roughly 200 billion Yen (about $1.8 billion) to acquire over 30 percent interest in Mitsubishi Motors. This would make Nissan the largest shareholder in the company, surpassing Mitsubishi Heavy Industries, which currently has a 20 percent stake. This news comes after Mitsubishi announced that all of its models sold in Japan since 1991 may have inflated fuel economy numbers. Since the scandal came to light, shares in Mitsubishi Motors have dropped 43 percent. Sales of Mitsubishi vehicles in Japan have also taken a turn for the worse. Mitsubishi Motors says they have enough money to cover the scandal and will not seek help from Mitsubishi group companies. Why would Nissan want a controlling stake in Mitsubishi? A couple of reasons. One, Mitsubishi vehicles are very popular in markets such as Thailand and Indonesia. In fact, Asia makes 50 percent of the company's group operating profit. There is also talk about the two cooperating on electric vehicles. Both companies will hold board meetings tomorrow to discuss the capital tie-up and how the shares will be distributed. Source: Bloomberg, NHK, Nikkei Asian Review UPDATE: Both Mitsubishi and Nissan confirmed they are in talks this morning in Japan. "Nissan and Mitsubishi are discussing various matters including capital cooperation, but nothing has been decided," according to statements released by both companies. Reuters confirms that the board of both companies will be holding separate meetings today to discuss this issue. Source: Reuters View full article
-
Mitsubishi Motors Continues Sales Momentum Best July and year-to-date sales in three years, Outlander Sport leads the way with its best ever July sales month CYPRESS, Calif., Aug. 1, 2014 /PRNewswire/ -- Mitsubishi Motors North America, Inc. (MMNA) experienced another strong month in July with sales of 6,349 units, a 21.4 percent increase over the sales total from July 2013. The stylish and American-made Outlander Sport 5-passenger compact crossover/SUV was the brand's volume leader with sales of 2,610 units in July – its best July sales month since the model was launched back in 2010. The award-winning and extremely fuel-efficient Mirage 5-door sub-compact saw sales of 1,593 units for the month, marking July as the second best sales month for the model since its debut last September. "Our year-to-date sales are up by nearly 29 percent over the same period from last year thanks to strong sales of our core models," said Don Swearingen, MMNA Executive Vice President of Sales. "This sustained sales momentum is a good indicator for the brand as we begin to launch our 2015 models." Other highlights of July sales include: Total Mitsubishi sales are up 28.9 percent year-to-date Sales of the Outlander 7-passenger crossover/SUV are up 25.4 percent year-to-date Lancer Evolution sales are up 10.0 percent year-to-date Outlander Sport sales are up 23.5 percent year-to-date
