2012 Mitsubishi Lancer Evolution Mr on 2040-cars

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Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Mitsubishi Outlander PHEV Concept-S shows what a facelift can do [w/video]

Sometimes you need a second chance to get things right. Technologically, the Mitsubishi Outlander PHEV is a pretty cool vehicle, with a 2.0-liter four-cylinder and additional electric motors providing more thrust. However, the CUV never really looked the part for all of its innovation. The Mitsubishi designers are taking another crack with the Mitsubishi Outlander PHEV Concept-S at the 2014 Paris Motor Show, and the vehicle shows what a massive improvement some tweaks can make.
The most obvious of these changes is the completely different front end with a more vertical design. The headlights are reshaped with LED running lights outlining them, and the new airdam that puts a massive X right on the front grille in black and chrome with some more LEDs down below. The designers don't stop there and have a major revision to the rear with taillights running all the way across. Inside, there's black wood grain trim and leather seats.
The update takes the CUV from boring to somewhat exciting, and the even better news is that some of these updates might make it to a rumored refresh in 2016 that could even come here. Scroll down to watch Mitsubishi's teaser video for the Concept-S with more views of it and the company's full press release.

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.