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    Nissan Will Purchase 34 Percent of Mitsubishi


    • From rumor to reality, Nissan is the largest shareholder in Mitsubishi


    In under 24 hours, the rumor has become reality. Nissan will acquire 34 percent of Mitsubishi Motors for 237 billion yen (about $2.17 billion). This makes Nissan the single-largest shareholder in the automaker.

     

    Speaking at a press briefing announcing the deal, Nissan CEO Carlos Ghosn said this alliance will cover purchasing, common platforms, joint manufacturing, technology development, and target shared cost savings. The alliance will also contribute management expertise to help Mitsubishi regain public trust.

     

    “It represents a win-win. We believe in the potential of Mitsubishi Motors,” said Ghosn.

     

    In statements from the two companies, an agreement will be signed by May 25th where Nissan can name four directors to the Mitsubishi Motors board. Nissan can also name one of their directors as a chairman for Mitsubishi.

     

    Osamu Masuko, chairman of Mitsubishi Motors explained the two companies have been discussing ways to extend their partnership for some time. Mitsubishi and Nissan currently have a deal concerning minicars. When the scandal came to light, the talks accelerated.

     

    “We had to do something quite daring. It is not an easy task to restore trust,” said Masuko.

     

    Makuko also notes that a takeover like this would have happened sooner or later due to Mitsubishi lacking the resources to compete effectively on its own.

     

    “This would have happened one day,” he said.

     

    This deal does open Nissan to possible issues concerning the problems facing Mitsubishi and how much money will need to be spent. Ghosn explained that Mitsubishi was very open about the scale of problems it faces and that Nissan would only complete the deal after it has done an investigation into the investment.

     

    Source: Automotive News (Subscription Required), New York Times, Mitsubishi, Nissan

     

    Press Release is on Page 2


     

    Nissan and Mitsubishi Motors forge strategic alliance; Nissan to take 34% stake in Mitsubishi Motors for 237 billion yen

     

    YOKOHAMA and TOKYO, Japan – Nissan Motor Co., Ltd., (“Nissan”), and Mitsubishi Motors Corporation, (“MMC”) announced that they have signed a Basic Agreement today to form a far-reaching strategic alliance between the two Japanese automakers.

     

    Following an MMC share issue, Nissan will take a 34 percent equity stake in MMC for 237 billion yen.

     

    The strategic alliance will extend an existing partnership between Nissan and MMC, under which the two companies have jointly collaborated for the past five years.

     

    Nissan and MMC have agreed to cooperate in areas including purchasing, common vehicle platforms, technology-sharing, joint plant utilization and growth markets.

     

    Carlos Ghosn, chief executive and president of Nissan, said: “This is a breakthrough transaction and a win-win for both Nissan and Mitsubishi Motors. It creates a dynamic new force in the automotive industry that will cooperate intensively, and generate sizeable synergies. We will be the largest shareholder of MMC, respecting their brand, their history and boosting their growth prospects. We will support MMC as they address their challenges and welcome them as the newest member of our enlarged Alliance family.”

     

    Osamu Masuko, chairman of the board and chief executive of MMC, said: “Through its long history of successful partnerships Nissan Motor has developed a deep knowledge of maximizing the benefits from alliance partnerships. This agreement will create long-term value needed for our two companies to progress towards the future. We will achieve long term value through deepening our strategic partnership including sharing resources such as development, as well as joint procurement.”

     

    Under the terms of the transaction, Nissan will purchase 506.6 million newly issued MMC shares at a price of 468.52 yen per share. The price per share reflects the volume weighted average price over the period between April 21, 2016 and including May 11, 2016. Nissan will become the largest shareholder of MMC on closing.

     

    MMC and Nissan expect Mitsubishi Heavy Industries, Mitsubishi Corporation and The Bank of Tokyo – Mitsubishi UFJ to maintain a significant collective ownership stake in Mitsubishi Motors, and to support the strategic alliance.

     

    The transaction is subject to the signing of a definitive Alliance Agreement, expected by the end of May 2016, the signing of a shareholders agreement with the current Mitsubishi Group shareholders of MMC and regulatory approvals. It is expected to close by the end of the year.

     

    The decision by Nissan to acquire a strategic stake in MMC marks the latest expansion of its Alliance model, built around a 17-year cross shareholding arrangement with Renault. Nissan has also acquired stakes or signed partnerships with other automotive groups including Daimler, and AvtoVaz.

     

    On closing, MMC will propose Nissan nominees as board directors in proportion to Nissan’s voting rights, including a Nissan nominee to become Chairman of the Board.

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    this likely means Mitsubishi can be the brand for the 'lesser markets' and emerging markets, and to be honest is probably a lifeline for them.  And, they can have a better chance of remaining relevant and keeping up on tech.

     

    I think a cpl years back everyone predicted that there would be some consolidation in the Japanese companies and this is a step to that.  Toyota may ultimately end up with all of Subaru and Mazda.  Honda may be left pissing in the wind.  Nissan will absorb Mits.  Suzuki will probably get sucked up by Tata or something.

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    Yup, the Japan consolidation is just beginning. I suspect over the next 18-24 months we will see more of these deals and the top three will end up being Toyota, Nissan and Honda with the rest of the name plates being under these three.

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    • By William Maley
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      Press Release is on Page 2



      2017 Nissan Sentra NISMO makes world debut at Los Angeles Auto Show
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      The engine is matched with choice of a 6-speed manual transmission, with gear ratios selected to take maximum advantage of the engine's powerband and torque curve, or an advanced, tuned Xtronic transmission.
      "It was important to offer a 6-speed manual transmission with the new Sentra NISMO, both to reinforce its pure performance credentials and to up the direct engagement factor between driver and the vehicle," said Bunce. "While today's sophisticated, paddle shifted automatic gearboxes can often match or exceed the performance of a manual transmission, there's still nothing like the experience of rowing through the gears with three pedals in the footwell."
      For buyers choosing the Xtronic transmission, it has been specially tuned to match the engine's performance. Acceleration feel is enhanced with the Xtronic's D-mode step shift program, giving a more linear acceleration feeling without holding a high rpm constant, letting rpms build as speed builds.
      Delivering on the handling aspect of the Sentra NISMO, the engineering team sought to provide a noticeable improvement even beyond the enhanced performance of the new Sentra SR Turbo. Five key areas were designated to meet the NISMO standards – handling response, grip, steering feel, body control and ride/handling balance.
      The NISMO-tuned independent strut front/rear torsion beam suspension goes beyond the SR Turbo's enhanced design (versus non-turbo Sentra grades) by adopting monotube rear dampers and unique tuning of the front springs and struts. The lightweight monotube shock design features separate oil and gas chambers and high-pressure gas charge to help provide quicker response to damper stroke and velocity changes. Faster damper response means faster reaction to changing steering or road conditions. In addition, the NISMO tuning of the springs and struts helps improve body control (roll and pitch) for higher demand cornering.
      Steering effort of the Electric Power Steering (EPS) system has also been specially tuned to provide a "NISMO feel." The special dialing in of the effort/response relationship helps provide good highway and winding road feedback, precise on-center definition without overly high driver effort and a linear, direct steering feel at turn-in.
      Also contributing to the overall handling performance is the unique Sentra NISMO wheel and tire combination. Utilizing NISMO 18-inch aluminum-alloy wheels mounted with newly developed 215/45ZR18 Michelin Pilot Sport all-season tires, cornering power and grip levels are improved, even over the new Sentra SR Turbo. It is the first time 18-inch wheels and tires have been offered on a Sentra. For customers seeking maximum grip, high-performance 215/45WR18 Bridgestone Potenza RE-71R summer tires are available through Nissan dealers.
      Like the SR Turbo, the steering system includes a larger steering motor and revised electronic mapping to provide reduced effort at parking and low speeds. The Sentra NISMO also utilizes a 4-wheel disc brake system with 11.7-inch vent front discs and 11.5-inch solid rear discs.
      Like all 2017 Sentra models, Sentra NISMO offers a long list of standard safety and security features – including the Nissan Advanced Air Bag System (AABS) with dual-stage supplemental front air bags with seat belt and occupant classification sensors; front seat-mounted side impact supplemental air bags; roof-mounted curtain side impact supplemental air bags with rollover sensor for front and rear-seat outboard occupant head protection; 3-point front and rear seatbelts, front seat belts with pre-tensioners and load limiters and adjustable upper anchors; and LATCH System (Lower Anchors and Tethers for CHildren).
      Also included are child safety rear door locks; Zone Body construction featuring front and rear crumple zones and occupant zone; Nissan Immobilizer system and anti-theft alarm system; and Tire Pressure Monitoring System (TPMS) with position monitoring and available Easy Fill Tire Alert system.
      Just one factory option is available with the Sentra NISMO: the NISMO Premium Package with NissanConnect with Navigation and Mobile Apps, 5.8-inch color touch-screen display, Nissan Voice Recognition for audio and navigation, SiriusXM® Traffic and SiriusXM® Travel Link® (SiriusXM® subscription required, sold separately), NissanConnect with Mobile Apps, and Bose® Premium Audio system with 8 speakers.
      "The new Sentra NISMO will attract new customers not currently considering Sentra – enthusiasts looking for a fun-to-drive vehicle with a sporty image yet at an attainable price point," said Bunce. "As the first ‘core' NISMO model in the Nissan lineup, Sentra NISMO takes us back to Nissan's roots of compact performance sedans. The time has come."

      View full article
    • By William Maley
      The Nissan Sentra isn't what you would call an interesting compact sedan. That has been changing thanks to the introduction of the Sentra SR Turbo earlier this year. Now, Nissan hopes the Sentra NISMO introduced today can go further.
      The exterior looks like it is up to the task. There is a “layered double wing” body kit - lower-body bits to the front, rear, and side - rear spoiler, updated rear bumper, red accents, and 18-inch wheels finished in gray. Four colors are available for the NISMO - Brilliant Silver, Super Black, Aspen White, or Gun Metallic. Inside, the front seats get extra bolstering, a sport steering wheel with Alcantara and leather trim; red accents, and a dark headliner.
      NISMO has played around with the Sentra's suspension, adding revised springs and struts up front, monotube shocks in the rear, a set of stabilizer bars, and a lowered ride height. The electric power steering system has been tweaked to provide a "NISMO feel." (We'll need to spend some time to figure out what they mean). You can option a set Bridgestone Potenza RE-71R summer tires through your Nissan dealer.
      You man have noticed that we haven't talked about the engine. There is a reason for that because it is a bit of a disappointment. The Sentra NISMO packs the same engine as the one found in the SR Turbo - a turbocharged 1.6L inline-four with 188 horsepower and 177 pound-feet of torque. This can be paired with a six-speed manual or xTronic CVT. Why not more power? According to those who were at the debut, Nissan said they wanted to keep power and handling balanced, and keep the price at a point that is accessible to many buyers. 
      Nissan says pricing for the Sentra NISMO will start just above $25,000 when it goes on sale early next year.
      Source: Nissan
      Press Release is on Page 2



      2017 Nissan Sentra NISMO makes world debut at Los Angeles Auto Show
      First-ever Sentra NISMO is first mainstream U.S. Nissan model to offer motorsports-inspired NISMO factory-tuned performance Comprehensive transformation includes aggressive exterior treatment, performance-oriented interior, stiffened body structure and unique suspension tuning Available with a choice of 6-speed manual or unique Xtronic transmission with manual mode – each tuned specifically to turbo engine Retains everyday sedan practicality, adds motorsports-inspired driving excitement The 2017 Sentra NISMO is the latest in a long line of compact Nissan performance sedans going back nearly 50 years to the Datsun 510 and the original Sentra SE-R. The new, first-ever Sentra NISMO is also the first mainstream U.S. Nissan model to offer motorsports-inspired NISMO factory-tuned performance. It joins the GT-R NISMO, 370Z NISMO, JUKE NISMO and JUKE NISMO RS in the 2017 Nissan lineup.
      The 2017 Sentra NISMO model's comprehensive transformation from everyday sedan to a highly personal performance machine includes aggressive exterior treatment, performance-oriented interior and unique suspension tuning.
      "With the addition of the new Sentra NISMO, the enthusiasts behind NISMO production sports vehicles like the GT-R NISMO and 370Z NISMO sought to widen the reach of the NISMO brand," said Michael Bunce, vice president, Product Planning, Nissan North America, Inc. "But they wanted to do it without diluting the NISMO brand – which meant Sentra NISMO going deeper than just visual changes to an enhanced, visceral driving experience."
      At the heart of any NISMO-badged production vehicle is the engine, such as the GT-R NISMO's 600-horsepower 3.8-liter V6. For the new Sentra NISMO, the engineers started with a 1.6-liter turbocharged 4-cylinder engine that fit perfectly within the aerodynamically aggressive Sentra NISMO bodywork. More than just an engine transplant, however, the motorsports-inspired transformation from practical sedan to a vehicle worthy of the NISMO badge involved a precisely balanced tuning of body, interior, chassis, suspension, steering and powertrain.
      "Sentra is Nissan's third most popular vehicle behind Rogue and Altima. For the 2017 model year, a new Sentra SR Turbo grade was added to the previous lineup of Sentra S, SV, SR and SL trim levels," added Bunce. "But it is the new Sentra NISMO that will undoubtedly set the nameplate's image on fire. It is the first introduction of the NISMO brand on a core, affordable Nissan model in the U.S."
      A Distinctive Presence
      The first thing most people will notice about the new Sentra NISMO is its highly aggressive presence, which goes even above the sporty Sentra SR and Sentra SR Turbo grades. Applying the NISMO philosophy of "totally balanced tuning for high speed driving, to provide ultimate driving pleasure," the Sentra NISMO aerodynamic design focus was on realizing zero lift without harming overall coefficient of drag (Cd). Therefore Sentra NISMO offers the same 0.29 Cd as standard Sentra models, but features a 30 percent reduction in lift force. While most of the reduction is provided by the unique NISMO rear spoiler, the revised rear bumper design also contributes.
      Beyond the aerodynamic enhancements, the overall exterior appearance is instantly recognized as pure NISMO with its signature "layered double wing" design in the front, side and rear lower body panels. A thin red stripe accents the lower panels.
      In front, a unique front fascia dominates, along with standard LED Daytime Running Lights, NISMO dark chrome V-Motion grille and NISMO badge. Other styling features include unique side sills, NISMO rear fascia and spoiler, NISMO exhaust finisher, dark chrome door handles and trunk finisher, rear NISMO badge and black NISMO outside mirror caps with integrated turn signals and NISMO red stripe.
      Helping give Sentra NISMO its aggressive stance, while also helping enhance handling performance, are 18-inch NISMO 10-spoke aluminum-alloy wheels mounted with specially selected 215/45R18 Michelin Pilot Sport all-season tires. Ride height has also been reduced by 0.4-inch.
      The 2017 Sentra NISMO is offered in four exterior colors – Brilliant Silver, Gun Metallic, Super Black and Aspen White.
      Inside, the Sentra NISMO interior is designed to support exciting driving – starting with unique NISMO front seats with logo and additional side bolstering. The rear seats feature unique cloth material with red stitching.
      Red motorsports-inspired accents are found throughout the interior, including on the unique Alcantara and leather-wrapped steering wheel, the push button start with red start ring, NISMO meter cluster with red tachometer, leather shifter knob and NISMO embroidered carpets. A dark headliner and NISMO logo on the instrument panel complete the special interior treatment. Just one interior color is offered, Charcoal with red accents. "The NISMO interior treatment adds a high level of driving support and sporty style without compromising the everyday drivability," said Bunce.
      Along with the long list of unique NISMO features, the 2017 Sentra NISMO also offers a 5.0-inch Advanced Drive-Assist™ Display (ADAD) located between the tachometer and speedometer, soft-touch instrument panel, sliding armrest, Nissan Intelligent Key® keyless entry, RearView Monitor, power windows with driver's one-touch auto up/down with auto reverse, power door locks with auto-locking feature, remote keyless entry and remote trunk and fuel-filler door releases.
      An AM/FM/CD system with 5.0-inch color display, SiriusXM® Satellite Radio (SiriusXM® subscription required, sold separately), Bluetooth® Hands-free Phone System, Siri Eyes Free™ Voice Recognition and smartphone integration for iPhone® and Android phones are also standard. The optional NISMO Premium Package adds a Bose® Premium audio system with eight speakers.
      Also offered with the NISMO Premium Package is NissanConnectSM with Navigation and Mobile Apps – with 5.8-inch color touch-screen display, Nissan Voice Recognition for audio and navigation, SiriusXM® Traffic and SiriusXM® Travel Link® (SiriusXM® subscription required, sold separately) and NissanConnect Mobile Apps.
      Balanced Performance
      As a pure factory tuned performance vehicle, Sentra NISMO offers buyers something aftermarket tuners can't – a balanced approach that goes deep under the skin of the vehicle with modifications to the structural integrity.
      Starting with the solid Sentra body, which packs ample interior roominess in a compact-size exterior, the Sentra NISMO body structure is enhanced with a number of factory tuned body reinforcements. The cowl is thicker and vehicle floor and rear parcel shelf are reinforced to stiffen the body structure, improving responsiveness to steering inputs – helping provide an enhanced platform for the new engine and NISMO-tuned suspension.
      "This is not just a ‘lipstick' application that adds a little performance and a lot of flash," added Bunce. "The beauty of the new Sentra NISMO is that every single aspect from front fascia to rear spoiler and everything in between works together to provide an enhanced driving experience – with equal emphasis on power and handling."
      The power side of the equation comes in the form of Sentra NISMO's new 1.6-liter Direct Injection Gasoline (DIGTM) turbocharged engine, which is shared with the new-for-2017 Sentra SR Turbo model. Rated at 188 horsepower at 5,600 RPM and 177 lb-ft of torque at 1,600 - 5,200 RPM, the 16-valve DOHC aluminum-alloy inline 4-cylinder engine includes a 10.5:1 compression ratio, Continuously Variable Valve Timing Control System (CVTCS), spray-coated and mirror-finish cylinder bores, a variable pressure oil pump and a low-pressure EGR system, which helps lower exhaust gas temperature and improve knock sensitivity.
      The Continuously Variable Valve Timing Control System (CVTCS) includes an intermediate lock function on the intake side, while the use of spray-coated and mirror-finish cylinder bores (versus the iron liners) provides an estimated 12 percent reduction in internal friction, which also improves anti-knock performance and reduces engine weight. The DIGTM system helps improve combustion, enhancing power, torque, economy and emissions, while the use of the turbocharger and intercooler helps boost power. The variable timing control for both intake and exhaust cycles improves low-end engine response.
      The engine is matched with choice of a 6-speed manual transmission, with gear ratios selected to take maximum advantage of the engine's powerband and torque curve, or an advanced, tuned Xtronic transmission.
      "It was important to offer a 6-speed manual transmission with the new Sentra NISMO, both to reinforce its pure performance credentials and to up the direct engagement factor between driver and the vehicle," said Bunce. "While today's sophisticated, paddle shifted automatic gearboxes can often match or exceed the performance of a manual transmission, there's still nothing like the experience of rowing through the gears with three pedals in the footwell."
      For buyers choosing the Xtronic transmission, it has been specially tuned to match the engine's performance. Acceleration feel is enhanced with the Xtronic's D-mode step shift program, giving a more linear acceleration feeling without holding a high rpm constant, letting rpms build as speed builds.
      Delivering on the handling aspect of the Sentra NISMO, the engineering team sought to provide a noticeable improvement even beyond the enhanced performance of the new Sentra SR Turbo. Five key areas were designated to meet the NISMO standards – handling response, grip, steering feel, body control and ride/handling balance.
      The NISMO-tuned independent strut front/rear torsion beam suspension goes beyond the SR Turbo's enhanced design (versus non-turbo Sentra grades) by adopting monotube rear dampers and unique tuning of the front springs and struts. The lightweight monotube shock design features separate oil and gas chambers and high-pressure gas charge to help provide quicker response to damper stroke and velocity changes. Faster damper response means faster reaction to changing steering or road conditions. In addition, the NISMO tuning of the springs and struts helps improve body control (roll and pitch) for higher demand cornering.
      Steering effort of the Electric Power Steering (EPS) system has also been specially tuned to provide a "NISMO feel." The special dialing in of the effort/response relationship helps provide good highway and winding road feedback, precise on-center definition without overly high driver effort and a linear, direct steering feel at turn-in.
      Also contributing to the overall handling performance is the unique Sentra NISMO wheel and tire combination. Utilizing NISMO 18-inch aluminum-alloy wheels mounted with newly developed 215/45ZR18 Michelin Pilot Sport all-season tires, cornering power and grip levels are improved, even over the new Sentra SR Turbo. It is the first time 18-inch wheels and tires have been offered on a Sentra. For customers seeking maximum grip, high-performance 215/45WR18 Bridgestone Potenza RE-71R summer tires are available through Nissan dealers.
      Like the SR Turbo, the steering system includes a larger steering motor and revised electronic mapping to provide reduced effort at parking and low speeds. The Sentra NISMO also utilizes a 4-wheel disc brake system with 11.7-inch vent front discs and 11.5-inch solid rear discs.
      Like all 2017 Sentra models, Sentra NISMO offers a long list of standard safety and security features – including the Nissan Advanced Air Bag System (AABS) with dual-stage supplemental front air bags with seat belt and occupant classification sensors; front seat-mounted side impact supplemental air bags; roof-mounted curtain side impact supplemental air bags with rollover sensor for front and rear-seat outboard occupant head protection; 3-point front and rear seatbelts, front seat belts with pre-tensioners and load limiters and adjustable upper anchors; and LATCH System (Lower Anchors and Tethers for CHildren).
      Also included are child safety rear door locks; Zone Body construction featuring front and rear crumple zones and occupant zone; Nissan Immobilizer system and anti-theft alarm system; and Tire Pressure Monitoring System (TPMS) with position monitoring and available Easy Fill Tire Alert system.
      Just one factory option is available with the Sentra NISMO: the NISMO Premium Package with NissanConnect with Navigation and Mobile Apps, 5.8-inch color touch-screen display, Nissan Voice Recognition for audio and navigation, SiriusXM® Traffic and SiriusXM® Travel Link® (SiriusXM® subscription required, sold separately), NissanConnect with Mobile Apps, and Bose® Premium Audio system with 8 speakers.
      "The new Sentra NISMO will attract new customers not currently considering Sentra – enthusiasts looking for a fun-to-drive vehicle with a sporty image yet at an attainable price point," said Bunce. "As the first ‘core' NISMO model in the Nissan lineup, Sentra NISMO takes us back to Nissan's roots of compact performance sedans. The time has come."
    • By William Maley
      Mitsubishi Motors Reports October Sales
      Best October sales since 2007; up 2.8 percent year-over-year Outlander Sport leads the way with 2,694 sales Best month ever for Outlander recording 2,429 sales CYPRESS, Calif., Nov. 1, 2016 /PRNewswire/ -- Mitsubishi Motors North America, Inc. (MMNA) today reported October 2016 sales of 7,637 up 2.8 percent from October of 2015. This was the best October for the brand since 2007 with Outlander Sport and Outlander leading the charge. Sales for the year remain up at 1.6 percent over the previous year.
        October
      YTD
        2016
      2015
      2016
      2015
      i-MiEV
      4
      9
      86
      102
      Mirage
      1489
      1197
      19239
      19168
      Lancer
      1021
      1086
      12560
      15356
      Outlander Sport
      2694
      3094
      28212
      30655
      Outlander
      2429
      2040
      21891
      15402
      Total
      7637
      7426
      81988
      80683
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