1999 Mitsubishi Montero Base Sport Utility 4-door 3.5l 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 exec says Evo 'will be replaced in spirit' by high-po hybrid SUV

Stop us if you've heard this one: According to Autocar, the current generation will be the last Mitsubishi Evolution we will ever see.
That, while unfortunate for driving enthusiasts, is a reality we've had plenty of time to digest. The days of wanton fuel burning for the sake of speed and power will soon come to an end. But that doesn't mean the days of performance have to die, too. "Green is still fun to drive," said Mitsubishi UK boss Lance Bradley in a conversation with Autocar. "It's a challenge to make it fun, but not a particularly difficult one. Electric vehicle performance is very good."
So, should we expect a new hybrid sedan to take up the mantle left by the Evo? Not so much. The British magazine quotes Kanenori Okamoto of Mitsubishi as saying, "It will be replaced in spirit by an SUV with high performance," which will apparently incorporate lessons learned in the automaker's efforts at Pikes Peak. The Mitsubishi MiEV Evolution III, which handily broke the EV record at the famed mountain course, will donate much of its high-performance, zero-emissions technology to the project, including its Super All Wheel Control four-wheel-drive system.

Mitsubishi Outlander PHEV US launch delayed over battery shortage

Mitsubishi resumed full-scale battery production in August after a five-month shutdown due to a safety investigation. Supplier Lithium Energy Japan has been delivering 4,000 battery packs each month since September, but that's apparently still not enough to fill the overseas inventory pipeline for the Outlander PHEV and i subcompact EV while launching the Outlander PHEV here in the US. So instead of the previous tentative launch date of Fall 2014, the plug-in hybrid's Stateside on-sale date has been pushed back until 2015.
That's according to Automotive News, which also notes that Mitsubishi has sold 11,300 plug-in Outlanders this year, though that number reflects the production stoppage over the battery issues. As of April, battery supplier LEJ will be able to supply 5,000 packs per month just for the Outlander, but company president Osamu Masuko has gone on record saying that production will have to rise above that in order to make the US launch.
Every Mitsubishi dealer (and hopefully a fair number of consumers) will be looking forward to a crossover that, for the moment, doesn't really have natural rivals. The Outlander PHEV can drive 32 miles on electricity alone, has a top speed of 75 miles per hour in EV mode and offers all-wheel drive with a towing capacity of over 3,000 pounds. The model should get an impressive MPGe rating from the EPA when it finally arrives and it figures to be a bellwether for the plug-in Outlander Sport and Pajero utility vehicles that are expected to arrive after it. Hopefully 2015 will be its year.