2002 Mitsubishi Eclipse Gt Coupe 2-door 3.0l on 2040-cars

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Mitsubishi pondering $2B share sale?

Mitsubishi makes the brilliantly fast, wonderfully fun Lancer Evolution. Outside of that road-going rally car, the rest of the range is pretty poor - the new Outlander isn't bad, but the subcompact Mirage looks like might've been competitive five years ago, while the Galant and Lancer have suffered from serial neglect.
This hasn't just lead to rumors of Mitsu's death in America; the subsidiary of the massive Mitsubishi Group has been in trouble at home, too. It was bailed out by three other Mitsubishi Group companies - Mitsubishi UFJ Financial, Mitsubishi Heavy Industries and Mitsubishi Corporation - between 2004 and 2005, according to Bloomberg. Now, it's attempting to extricate itself from "emergency mode," as analyst Koichi Sugimoto told the financial site, adding that "they're still in the very early stages of recovery."
As part of the bailout, Mitsubishi issued its three saviors billions of dollars of preferred shares, which don't have voting rights. The problem is, Mitsubishi hasn't issued dividend payments since 1998, and these stocks aren't exactly competing with Apple or Google, in terms of value. In other words, they're mostly worthless. With a public offering, Mitsubishi is expecting to raise 200 billion yen, or about $2 billion, in order to reduce the number of preferred shares. If all goes according to plan, it will wipe out preferred shares by March of 2014, or the end of fiscal year 2013.

2014 Mitsubishi Lancer to shrink

The aging, oft-forgotten Mitsubishi Lancer won't get a replacement until sometime in 2014, but a new report states that the next-generation model could be a relatively drastic departure from the car you see here. Mitsubishi Motors Corporation President Osamu Masuko told Australian site The Motor Report that the new Lancer will be smaller than the current car, going in a different direction than the vast majority of other automakers.
"The new Lancer will be a very new car, and will be sized somewhere between the current model and its predecessor," Masuko-san told The Motor Report.
There are both pros and cons to this decision. On the plus side, a smaller car means the Lancer will likely have a weight advantage over other vehicles in its class. That said, Mitsubishi will need to find ways to maximize interior space and create efficient packaging in order to still have its compact sedan remain competitive with strong offerings like the Hyundai Elantra, Chevrolet Cruze, Ford Focus and so on.

Mitsubishi recalling 166k cars, crossovers over stall risk

Mitsubishi is recalling 165,923 vehicles in the US because it's possible for the drive belt to detach from their engines, potentially causing a stall. Specifically, the campaign covers 2008-2011 model-year examples of the Lancer, Lancer Evolution (pictured above) and Outlander as well as the 2009-2011 Lancer Sportback and 2011 Outlander Sport. All of the affected models use some version of the brand's 4B1 four-cylinder engine.
According to the National Highway Traffic Safety Administration, the engine pulley can wear causing the drive belt to slip off. If this happens, the alternator, cooling fan and hydraulic power steering can all stop working, and obviously, any of those things could make driving unsafe. However, if the belt detaches, then a warning light should come on in the cabin.
To fix the problem, Mitsubishi dealers will replace the original belt with a redesigned rubber part and will inspect the pulley. If worn, it'll also be replaced free of charge.