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Even Consumer Reports is savaging the Mitsubishi Mirage

When we reviewed the 2014 Mitsubishi Mirage a few months ago, we absolutely hated it. Our conclusion was that if you needed a car in this segment to either pay a few hundred dollars more for a Chevy Spark or spend less for an entry-level Nissan Versa. Basically, avoid this Mitsubishi at all costs. It turns out that we weren't the only ones who despised it. Consumer Reports can often find something positive about just about any vehicle, but even the usually gentle publication struggles to find compliments when it comes to the Mirage.
It's most serious gripe concerns the model's handling. CR describes the way that the Mirage wallows around turns with tons of body lean even at low speeds as "scary." A little car with a curb weight of 2,051 pounds just shouldn't corner this poorly.
While Consumer Reports definitely has no love when it comes to the 2014 Mirage, finding something to dislike about practically every aspect of the vehicle from its powertrain to the interior, the reviewers do end up digging out one positive aspect. You'll have to scroll down and watch the video to find out what it is.

Mitsubishi boss says US operations may break even next year

Mitsubishi has lost money in its North America operations every year since 2007, but in an interview at this week's Tokyo Motor Show, company president Osamu Masuko said, "If things keep going well, it might be the case that we break even this year," Automotive News reports.
A little context: Last month Mitsubishi predicted that it would lower its operating loss in the region to 4-billion yen ($40.7 million) by March 31, the end of the fiscal year, well below the previous fiscal year's operating loss of more than five times that amount. Reflecting that, production at the Japanese automaker's sole North American factory in Normal, Illinois, has grown to 56,630 vehicles through October, compared to 27,339 through the same period last year.
The plant makes the Outlander Sport for the US and for export to markets such as Russia, the Middle East and Latin America. Interestingly, out of the 56,630 Outlander Sports built at the Illinois plant through October, only 20,150 were sold in the US.

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.