2015 Mitsubishi Evolution Gsr on 2040-cars

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Junkyard Gem: 1983 Mitsubishi 4WD SPX Truck

Mitsubishi began building the Forte small pickup in 1978, and Chrysler quickly started selling the Forte in North America with Dodge D-50/Dodge Ram 50/Plymouth Arrow Truck badging. Mitsubishi-badged vehicles first showed up on our shores as 1983 models, with four models available: the Cordia liftback coupe, the Tredia sedan, the Starion sports car and the Truck. Today's Junkyard Gem is one of the very first of those Mitsubishis to be sold in the United States, found in a Denver self-service car graveyard recently. This series is all about gems of automotive history, and we've got a really rare bit of Mitsubishi Motors history here with this August 1982 build date. I've documented six discarded (Mitsubishi-badged) Mitsubishis from the 1983 model year prior to now, and none had build dates earlier than January of 1983. This pickup may have been on the first shipload of new Mitsubishis to arrive at San Pedro (while the town's most legendary band was just becoming known outside of Southern California). Even my discovery of one of the very first Camrys sold in North America (in the same junkyard a few years back) isn't as cool as this. The commonly used name for all of the first-generation (1983-1986) Mitsubishi pickups is "Mighty Max," but a look through contemporary price guides (of which I have an extensive library) and Mitsubishi Motors USA's own marketing materials shows that the official name for this truck was "Truck," available in Mighty Max, Turbo Diesel and SPX sub-designations. Other Japanese manufacturers also sold vehicles named Trucks and Vans here, with the Toyota Truck (aka Hilux everywhere else in the world) being the best-known. Later on, Mitsubishi fully embraced the Mighty Max trim level as the model name for all the Forte/Triton-based pickups it sold here. For the 1983 model, the Mighty Max was the cheapest Mitsubishi Truck, sold only with 2.0-liter engine, rear-wheel-drive and four-on-the-floor manual transmission. This is a 4WD SPX with automatic transmission, the most expensive Mitsubishi Truck available in 1983. It has the 2.6-liter Astron SOHC four-cylinder engine, rated at 108 horsepower and 142 pound-feet. The Astron went into a wide variety of U.S.-market vehicles over the years, including Chrysler K-Cars and Dodge Challengers. Such luxury! The Dodge-badged version of this truck, the Ram 50, remained available all the way through the second generation of Forte and the 1994 model year.

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.

Renault's ambitious EV strategy relies on historic nameplates

PARIS — Renault unveiled a more ambitious strategy for electric vehicles (EVs) on Wednesday, betting on new, affordable versions of its iconic small cars of the past to catch up with Volkswagen in the fast-growing sector. The French carmaker's Chief Executive Luca de Meo said it would launch 10 new EVs by 2025 and that all-electric vehicles would account for up to 90% of its models by 2030, dropping its reliance on hybrids to hit the target under a previous plan. Renault is betting that an electric version of its classic Renault 5 compact car, which was discontinued in the 1990s, will capture the imagination of today's drivers when it goes on sale in the first half of 2024. At a live-streamed presentation on Wednesday, the company also offered a fleeting glimpse of its new electric "4ever." model. Two sources close to the company said it was a revival of the Renault 4 hatchback which went out of production last century. "Today is an historic acceleration of Renault Group's EV strategy," de Meo said in a statement. De Meo said that new, purpose-built electric car platforms and a cluster of production sites in northern France would allow Renault to deliver EVs at a lower cost. The first of its new EVs will be the MeganE hatchback which is due to go on sale in the first half of 2022. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. By 2030, Renault and its alliance partners, Nissan and Mitsubishi, will be producing 1 million EVs globally a year, up from the 200,000 they made in 2020, the French carmaker said. Tesla, the world's most valuable carmaker, is already close to hitting that target, with sales of between 840,000 and 1 million EVs projected for this year. Shrinking share Renault's Zoe model, the biggest-selling battery electric car in its segment in Europe for years, is losing ground to models such as Volkswagen's ID.3 compact electric car. Figures from database EV-Volumes.com showed Volkswagen's share of the EV market in Europe soared to 25% last year from 14% in 2019, overtaking the Renault-Nissan-Mitsubishi alliance, whose share shrank to 19% from 23% in 2019. In the first quarter of 2021, Renault's share fell further to 15%, tying with Tesla for third place behind Volkswagen on 21% and Stellantis on 17%, EV-Volumes.com data showed.