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Mitsubishi XR-PHEV Concept is a chronicle of an Outlander Sport foretold [w/video]

Mitsubishi's current Outlander Sport has done a yeoman's job since it came on the market for the 2011 model year. The affordable crossover has been one of the few bright spots in the perennially troubled automaker's lineup - it's the brand's best seller in the US and sales are up nearly 40 percent this year. The subcompact CUV has become an increasingly important part of the Mitsubishi lineup, which is why you should pay attention to this XR-PHEV Concept - it's said to presage the next-generation model.
Stylistically, this is a pretty bold little CUV, with a striking face framed by bold zig-zags of chrome that underline the narrow headlamps and frame the massive lower fascia. The profile has a dramatically tapered greenhouse with bold sheetmetal contours and a funky blacked-out A-pillar that emphasizes the hood's height. The rear end is no less dramatic, with dual-pane rear tailgate with a particularly fast rake.
As shown here, the XR-PHEV (pronounced "Cross Runner") is a four-seat CUV that motivates its front wheels through a turbocharged 1.1-liter, three-cylinder engine with 134 horsepower paired with a 120-kW electric motor. In pure-electric mode, the 14-kWh battery is said to be good for 52 miles of cruising range and the combined fuel economy bogey is 66 miles per gallon on Japan's lenient testing cycle.

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 scores record global operating profits

In the minds of many auto enthusiasts, Mitsubishi has become an afterthought. It has transformed from a company known for its turbocharged, all-wheel-drive rally machines into an automaker with a very boring lineup. Maybe we are being unfair, though. While the company doesn't have much of a performance presence anymore, the Japanese brand is doing quite well financially.
According to Reuters, Mitsubishi Motors had an operating profit of 123.4 billion yen ($1.2 billion) worldwide for the fiscal year that ended in March. That's twice as much as last year and a new all-time record for the Japanese automaker. It's even paying dividends to investors for the first time in 16 years, and its expected profit of 135 billion yen ($1.3 billion) in the new fiscal year matches a goal it had set for itself to achieve two years from now.
The automaker currently focuses much of its efforts on Southeast Asia, which accounts for about a quarter of its sales. It will put even greater attention there in the coming years with more local production, according to Reuters.