Nissan Joins 10 Million Club, Gets The Entry Fee At Deep Discount

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Today, journalists assembled in Yokohama, ready to be treated to spreadsheets, and Nissan’s annual financial report. At short notice, they were rerouted to a cramped meeting room two blocks down the road. They knew what was coming. Last night, Japan’s NHK TV station and the Nikkei financial wire reported rumors of a tie-up between Nissan and embattled Mitsubishi Motors. Today, that tie-up was formally announced.

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Without the Corsa, GM’s deal with PSA is dead

2010 Opel Corsa Color Race

When, in early 2012, GM bought seven percent of the moribund PSA Peugeot Citroen, with the intent of coupling it with its likewise moribund Opel, just about everybody who understood the car business developed deep lacerations from incessant head-scratching. Combining two sickos usually is not a recipe for health. Unimpressed by logic, the happy couple promised annual cost savings of $2 billion. Now, the deal is entering the terminal phase. [Continue Reading]