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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.

2014 Mitsubishi Mirage arrives in US this fall

Mitsubishi dealers have been painfully starved of fresh product for ages now, with their most recent new model, the bubble-shaped i electric car, already requiring a serious sales jumpstart. We've known for a while that help is on the way in the form of an all-new Outlander crossover, but we've basically only had loose confirmations to go on that the Japanese automaker would eventually reintroduce its Mirage subcompact to the American market. Today, those rumors have turned to reality, as Mitsubishi has confirmed that the five-door economy car will hit US dealerships this fall.
Every subcompact player needs a trump suit, from Ford's tech-rich Fiesta to Honda's impossibly space-efficient Fit, and the Mirage's calling card figures to be its fuel economy. Mitsubishi says it expects its 2014 Mirage to achieve 37 miles per gallon in the city and 44 on the highway (combined rating of 40 mpg) when equipped with a continuously variable transmission. Those figures are good enough, Mitsu says, to earn it the title of the most fuel-efficient gasoline vehicle sold in America that isn't a hybrid.
Of course, Mitsubishi isn't outlining any additional specs at the moment - not even engine configuration. We're expecting the company's 1.2-liter three-cylinder, which in European spec delivers a modest 79 horsepower and 78 pound-feet of torque. The Continent's Mirage weighs under 1,900 pounds, but the normally aspirated triple still makes for leisurely acceleration of 11.7 seconds to 62 miles per hour. It will be interesting to see if Mitsubishi makes some powertrain alterations to better suit American expectations.

Mitsubishi and Renault-Nissan expand partnership, US will get new sedan

Mitsubishi and Renault-Nissan have just inked an alliance that might, hopefully, reverse the ailing fortunes of the Mitsubishi brand in the US market. The big chunk of news is that Mitsubishi will produce two Renualt-based models for sale in the US market, and that they'll be built at the Renault-Samsung factory in Busan, South Korea.
The plans call for a D-segment sedan to be followed by a C-segment offering. Based on the cars built at the Busan factory, that means Mitsubishi will be getting the SM5 and the SM3, a pair of handsome sedans that are based on Renault-Nissan's D and C platforms, respectively. These same platforms underpin a number of US market Nissans (not to mention a number of cars from Renault), namely the Pathfinder, Maxima, Quest and Murano for the D platform and the last-generation Rogue and Sentra for the C platform.
Besides the sedan production, Nissan and Mitsubishi will be expanding their joint-venture company, NMKV, which produces Kei cars for the Japanese market. A new, all-electric offering will be born from the partnership, likely based on a Kei car platform. The partnership between the three brands will also lead to increased sharing of technology, particularly relating to electric cars.