2011 Mitsubushi Endeavor Ls...nice Awd Great Family Suv 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.

Mitsubishi Mirage will launch in US with three-cylinder engine [w/video]

We have a date with Mitsubishi Mirage (again). The Japanese subcompact is slated to arrive on our shores in September 2013, and it's one of the product offerings meant to help Mitsubishi's US arm raise sales in its next financial year from 55,000 to 80,000. If next year were 1989, we'd say there's no reason that couldn't happen, but from what we've seen, the Mirage is so magnificently meek (have you seen the interior?) that we aren't sure how it will manage that kind of US sales aggression in the 21st century.
Continuing that theme, Car and Driver reports that the Mitsu will launch here with a 1.2-liter, three-cylinder engine. Make no mistake, this is a very popular engine in the Mirage and responsible for its excellent fuel economy. The hatch is doing so well in other markets with its two naturally aspirated tri-cylinders that the Thailand facility that builds the Mirage will have its capacity increased by 33 percent to try and meet demand. In European spec, the 845-kilogram (1,859 pounds) subcompact with the more powerful engine offering 79 horsepower and 78 pound-feet of torque gets 57.3 miles per US gallon and takes 11.7 seconds to get from zero to 62 miles per hour. The question is whether Mitsubishi will boost the output of that engine for our market. If not, only the 70-hp Smart ForTwo will have less horsepower - but the Mirage, interestingly enough, weighs about the same as the microcar.
On its UK site, Mitsubishi said the reveal of the Mirage in back 2011 meant "redefining the standards by which to judge a compact passenger car." We can't wait to find out if that's still true and what that means when it gets here. To prepare yourself, there's video of the Mirage in action below.

2013 Mitsubishi Outlander GT

I'm not a gambling man, but if there were a pool for an automotive death watch, my money would be on Mitsubishi... Lincoln is a close second. To understand the plight of Mitsubishi, you only have to look at its current lineup; they all just look, feel and drive about 10 years older than they really are. With the departure of the Endeavor and merciful killing of the Eclipse (the Galant lives on, but is on hiatus for the 2013 model year), one of the worst remaining offenders is the Mitsubishi Outlander, which I recently drove in top-level GT trim for this Quick Spin.
If we had a time machine and took the 2013 Outlander GT back to 1998, it would be revolutionary. If we could take it back to 2004, it might be near the top of its class. But in the current highly competitive crossover segment of today, the Outlander just falls short. Yes, the all-new 2014 Outlander is on its way later this year, but from what we've seen both inside and out, the new design would look great in 2008. That being said, spending a week with any vehicle can point out surprising highs as well as lows, and there are still plenty of reasons to enjoy Mitsu's midsize CUV.
Driving Notes