1995 Mitsubishi 3000gt Vr-4 Coupe 2-door 3.0l on 2040-cars

Auto blog

Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.

Mitsubishi reveals mid-term plans including redesigned pickup, SUV and new PHEVs

Struggling automaker Mitsubishi seems adamant that it will soldier on across the globe. Just last week, we told you how the brand would begin selling a pair of rebadged, Korean-built, Renault-Samsung sedans in the US market, and now comes an official statement from Mitsubishi about a mid-term business plan called "New Stage 2016."
As part of the plan, a number of products not sold in the US, like the Triton pickup, Pajero Sport SUV and Delica D:5 will be new or significantly updated, while we'll be seeing a second-generation Outlander Sport within the next few years. Some of these new or updated models may be previewed at the Tokyo Motor Show later this month. There will also be an increased focus on the brand's plug-in hybrid technology.
In fact, that technology will play a big role in Mitsubishi's revitalization, as it rolls out its own competitor to Honda's Earth Dreams and Mazda's Skyactiv technology, called @earth Technology (yes, seriously). It's unclear if @earth Technology will develop into an overarching philosophy like Mazda has done with Skyactiv, but with Mitsubishi pushing so hard with hybrids and EVs - part of its deal for those Renault-Samsung sedans was that it would develop EV tech with Nissan-Renault - if we did see an @earth Technology badge on a car, we'd wager that it'd be powered, to some degree, by electricity.

Your 2013 Pikes Peak Hill Climb primer: "Donuts at 14,000 feet."

The teams have all set up their pits and paddocks for today's run of the 91st Pikes Peak International Hill Climb, and there's nothing left to do but take a shot at the title. At 8 am Mountain time (9 am EST / 7 am PST), the first of a field of 83 bikes and 63 cars - whittled from an original field of 157 - will race 12.42 miles through 156 turns from the start gate at 9,390 feet to the summit finish at 14,110 feet. The summit is where we'll be all day, having arrived on the media bus at around 5 am and not allowed to come down until the race is finished. If it's anything like last year that could mean a 14-hour day on the top munching on donuts at the summit café, begging for hits of pure oxygen and trying to stay hydrated and warm...
Here are the event with Hyundai, we enjoyed dinner with Rhys Millen got his take on what's happened and what's about to happen. Millen said the issue that caused his engine swap last week was minor, a head gasket (a production part) that was causing a bit of hesitation and a slight drop in top speed. He said it's the first time they've stressed the engines this hard, pushing boost pressures up to 19 psi at altitude, which equates to 25 psi at sea level. Offering testament to the strength of the engines, though, he said that Paul Dallenbach's engine did the entire 2012 drift season as well as Pikes Peak, and it's the engine being used again for the hill climb this year.
We also chatted with Dallenbach, who has come back from that beastly crash last year in the Unlimited category to lead almost every practice day this year in the Time Attack class. Telling us he's happier behind the wheel this year than he has been in 20 years, he asked us, "Know what my dashboard says when I turn the car on? 'Donuts at 14,000 feet.'"