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Nissan buys £2.2 billion stake in Mitsubishi

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PR07HET View Drop Down
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    Posted: 13 May 2016 at 5:25pm

Nissan has confirmed it is buying a 34% stake in Mitsubishi Motors for $2.2 billion (£1.5 billion).

Nissan chief Carlos Ghosn vowed in a press conference to help restore trust in Mitsubishi.

Related: Mitsubishi fuel economy tests ‘incorrect since 1991’

Nissan is significantly larger that Mitsubishi, which admitted in April it has been overstating fuel economy through rigging official fuel economy tests. Mitsubishi’s stock has plummeted by more than 40% since news of the fuel economy test scandal broke, wiping £2 billion off its value.

Ironically it was Nissan that discovered Mitsubishi was overstating fuel economy, when it assessed joint venture minicars built by Mitsubishi for the two companies.

Mitsubishi has since discovered it’s been overstating Japanese market fuel economy for 25 years.

In other related news, Mitsubishi Motors UK has written to all of its British owners to confirm they are NOT affected by the 25-year fuel economy test rigging scandal that’s engulfed its Japanese operations.

“I'm now pleased to be able to confirm for certain, following a detailed independent investigation, that no vehicles produced for UK and Europe are affected,” confirmed Mitsubishi UK MD Lance Bradley.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote G5 BOY Quote  Post ReplyReply Direct Link To This Post Posted: 15 May 2016 at 11:35am
Ironically it is Nissan who claim the 1.2 Dig-T returns a combined 54 mpg, which is yet to be confirmed by any owners.

Fox in charge of the chickens springs to mind.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote Picasso Quote  Post ReplyReply Direct Link To This Post Posted: 16 May 2016 at 9:13am
You would have thought they would have bought back Renaults share in Nissan.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote pennine15 Quote  Post ReplyReply Direct Link To This Post Posted: 16 May 2016 at 12:29pm
Too many Renault parts in Nissan's.- Pity they could not reduce the price of all the new cars with the money. Embarrassed
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Post Options Post Options   Thanks (0) Thanks(0)   Quote gloucester Quote  Post ReplyReply Direct Link To This Post Posted: 16 May 2016 at 10:56pm
Originally posted by G5 BOY G5 BOY wrote:

Ironically it is Nissan who claim the 1.2 Dig-T returns a combined 54 mpg, which is yet to be confirmed by any owners.
...


The brochure I have claims 50.4mpg on 16/17" wheels or 48.7mpg on 18/19" wheels.

I was hoping to average around the Urban figure of 42.8/41.5mpg (manual) but am struggling to get above 35mpg most of the time.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote G5 BOY Quote  Post ReplyReply Direct Link To This Post Posted: 17 May 2016 at 8:23am
You are not alone my friend Cry


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