Renault-Nissan Takes Control of Mitsubishi
Renault-Nissan told Japan Mitsubishi lied about fuel economy. Now it’s taking over company and its strong Asian sales.
Detroit’s Big Three are facing an old competitor with a newly-enlarged portfolio.
Automaker Renault-Nissan has taken over Mitsubishi Motors.
Though Mitsubishi sells relatively few cars in the U.S., it moves about a million vehicles a year globally.
Adding that to Renault-Nissan’s existing product line increases the strength of the world’s fourth largest automaker as it attempts to make inroads against competitors Toyota, Volkswagen and General Motors.
Mitsubishi was on the verge of extinction in the wake of recent revelations that the company had faked fuel economy reports in Japan since 1991.
But experts say the company has also been a big seller in several Asian nations where Nissan has not done well, as well as a significant player in the minicar, SUV and electric vehicle markets.
