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Mitsubishi Lancer, Outlander Sport named 2013 IIHS Top Safety Picks

The Insurance Institute for Highway Safety has added a pair of Mitsubishi models to its ever-growing list of 2013 Top Safety Picks, giving the prestigious safety award to the 2013 Outlander Sport and Lancer (sedan and Sportback). Both models make a return visit to the list, but with 117 cars now on the list and IIHS crash standards getting tougher just about every, this is big news for the small Japanese automaker.
Among small SUVs, the Outlander Sport is just one of nine vehicles in this segment to be named a Top Safety Pick, while the Lancer's name is surrounded by 28 other compact coupes, sedans and hatchbacks in the highly competitive small car segment. The Top Safety Pick status does not apply to the Lancer's Ralliart or Evolution variants, and neither the Outlander Sport nor the Lancer were subjected to the new small frontal offset crash test that would have resulted in the new Top Safety Pick+.
Scroll down for Mitsubishi's press release.

Mitsubishi's first US chairman since 2007 charged with revitalizing brand

Have a look at Mitsubishi North America's vehicle page and you'll find seven cars in four model lines: i-MiEV electric hatch, Lancer sedan, Lancer Evolution and Sportback, Outlander and Outlander Sport, and Galant sedan. The Galant has 3.9 tires in the automotive grave, and the only hope for mainstream excitement, the Eclipse coupe and Spyder, had hemlock poured down their crankcases last year. Increasing the quotient of bleak, the Lancer isn't due for a refresh until 2014, the coming Outlander PHEV will sell in miniscule numbers when it does arrive, a little sports car has been nixed and the only other Mitsu being considered for our landmass is the Colt, which, for its stellar fuel economy numbers, looks like a car designed by Pikachu. There's also that matter of declining NA market share in a rising overall market, Mitsubishi's piece of the total pie currently hovering around the 0.4-percent mark according to Automotive News.
The company has decided to do more about it, reassigning Executive Vice President and Head Officer of the Headquarters Product Projects & Strategy Group Gayu Uesugi to be the new chairman of Mitsubishi Motors North America. It will be the first time in five years that someone has filled the chairman position at MMNA.
The hope is that with Uesugi's 35 years with the company, his experience in the company's global product plan and his success in emerging market strategy, he's the man to "[develop] a product plan and growth strategy for the US market" that will put things right. Or at least better. He will work with Yoichi Yokozawa, who has been CEO of MMNA since last year. There are more details on the move in the press release below.

Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.