After accumulating some $9 billion in losses, Mitsubishi Motors is bringing its financial house in order. According to Reuters, “Mitsubishi Motors is considering asking shareholders to approve plans for a 10-for-1 reverse stock split. At the same time, the company may ask shareholders to approve a capital reorganization – a change in accounting that would make it possible to resume paying dividends.” (Read More…)

They can cuff me anytime.

Hot girls in short skirts are the first things that leap into my mind whenever anyone says anything about the Japanese. The internet has not helped to change that, in fact it may have made things worse. If you add the word “Japanese” to any noun that describes a group of people and enter it into your favorite search engine, pictures of hot young girls will always appear near the top of the results. Look for Japanese tour guides, Japanese students, Japanese beach volleyball players or Japanese anything and you will see I am right. Try it, I’ll wait.

Now that you’re back, did you look for Japanese Police? I did, and despite my prior confession I was surprised at what I found. (Read More…)

The March 11 earthquake and tsunami didn’t just destroy more than 410,000 cars in Japan. It also totally mangled the list of top selling cars in Japan. After a two year absence, two minivehicles took the top spot of the chart. Suzuki’s WagonR mini vehicle was the best-selling new car in May, Daihatsu’s Move mini vehicle took second. The first regular car was the Honda Fit in the 3^rd position. Perennial leader Toyota Prius is in the 6th position, despite an early re-start of production.  Full list after the jump …. (Read More…)

Japan has – as the confused reader of our monthly sales report from the Land of Nippon is woefully aware of – a two class car system. There are cars, and there are kei cars. Soon, there will be a three class system. (Read More…)

VW CEO  Martin Winterkorn is a superstitious man. He doesn’t want to add a 13^th brand to his (or rather Piech’s) large collection. (Coincidentally, 12 is the number of Piech’s children. More or less. Nobody is quite sure,) “There are some who knock on our door. Some really want to come under our roof as they see we’re on a good path strategically. But we are satisfied with the current line-up,” Winterkorn said to Wirtschaftswoche.  Specifically questioned about Volvo or (gasp) Daimler, Winterkorn answered: „There are many who would like to snuggle in VW’s cozy bed. Thank you, not interested.”  Instead, he’s re-thinking the line-up of his new acquisitions:  “I could imagine a smaller Cayenne derivative. Or a Porsche below the Boxster. This is under discussion.”
(Read More…)