2008 Mitsubishi Lancer Evolution Gsr Sedan 4-door 2.0l on 2040-cars

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Renault's ambitious EV strategy relies on historic nameplates

PARIS — Renault unveiled a more ambitious strategy for electric vehicles (EVs) on Wednesday, betting on new, affordable versions of its iconic small cars of the past to catch up with Volkswagen in the fast-growing sector. The French carmaker's Chief Executive Luca de Meo said it would launch 10 new EVs by 2025 and that all-electric vehicles would account for up to 90% of its models by 2030, dropping its reliance on hybrids to hit the target under a previous plan. Renault is betting that an electric version of its classic Renault 5 compact car, which was discontinued in the 1990s, will capture the imagination of today's drivers when it goes on sale in the first half of 2024. At a live-streamed presentation on Wednesday, the company also offered a fleeting glimpse of its new electric "4ever." model. Two sources close to the company said it was a revival of the Renault 4 hatchback which went out of production last century. "Today is an historic acceleration of Renault Group's EV strategy," de Meo said in a statement. De Meo said that new, purpose-built electric car platforms and a cluster of production sites in northern France would allow Renault to deliver EVs at a lower cost. The first of its new EVs will be the MeganE hatchback which is due to go on sale in the first half of 2022. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. By 2030, Renault and its alliance partners, Nissan and Mitsubishi, will be producing 1 million EVs globally a year, up from the 200,000 they made in 2020, the French carmaker said. Tesla, the world's most valuable carmaker, is already close to hitting that target, with sales of between 840,000 and 1 million EVs projected for this year. Shrinking share Renault's Zoe model, the biggest-selling battery electric car in its segment in Europe for years, is losing ground to models such as Volkswagen's ID.3 compact electric car. Figures from database EV-Volumes.com showed Volkswagen's share of the EV market in Europe soared to 25% last year from 14% in 2019, overtaking the Renault-Nissan-Mitsubishi alliance, whose share shrank to 19% from 23% in 2019. In the first quarter of 2021, Renault's share fell further to 15%, tying with Tesla for third place behind Volkswagen on 21% and Stellantis on 17%, EV-Volumes.com data showed.

Only a few cars in America are selling for less than $20,000

Last week, data begin filtering into the blogosphere suggesting that $20,000 is no longer an adequate sum to park a nice late-model used vehicle in your driveway. Some numbers: in 2019, the average cost of a used vehicle in America stood at $23,351. Just four years later, that number rocketed to $34,491 in 2023. So you won't be surprised by the next piece of info, either. There are only three new vehicles in 2023 with an average transaction price less than $20,000: the Mitsubishi Mirage, Nissan Versa and Kia Rio. According to numbers we sourced from Truecar, last month the average buyer paid $17,099 for a new 2023 Mitsubishi Mirage. That represents a discount of a couple hundred bucks off the price listed on the car's window sticker. The next cheapest car on the list is the 2023 Nissan Versa. With an average transaction price of $17,597 the Versa joins the Mirage as the only cars selling for less than $18,000. Next is the 2023 Kia Rio, which, at $18,069 is actually selling for a few hundred dollars over sticker. And then there's the 2022 Nissan Sentra. Notice that's last year's model, meaning these Sentras have been sitting on the lot for a while, and they still managed to sell, on average, for $22,227 (around $218 under MSRP). Fourth on the list is even older, as leftover 2021 stock of Ford EcoSport crossovers had an average transaction price of $22,407 (that's around $1,600 off for a new but two-year-old car). Here are last month's top 10 cheapest vehicles, listed by average transaction price: 2023 Mitsubishi Mirage — $17,099 2023 Nissan Versa — $17,597 2023 Kia Rio — $18,069 2022 Nissan Sentra — 22,227 2021 Ford EcoSport — $22,407 2023 Subaru Impreza — $22,814 2023 Nissan Kicks — $23,061 2022 Mitsubishi Outlander Sport — $23,490 2022 Ford EcoSport — $24,681 2023 Hyundai Elantra — $25,351 The first piece of advice we'd offer to prospective buyers looking for a decent car at a decent price is to take a good long look at the Subaru Impreza. It's a nice little machine that's a lot more rewarding to drive than anything on the list that's cheaper, and it boasts standard all-wheel drive, too. The 2023 Hyundai Elantra stands out on that list, too. Our second piece of advice is to consider something off this list of low-mileage used vehicles that we've highlighted as better options than anything you'll find new with a sticker that's less than $20,000. And considering the subject of this article, that means the Mitsubishi Mirage.

Japan could consolidate to three automakers by 2020

Sergio Marchionne might see his dream of big mergers in the auto industry become a reality, and an analyst thinks Japan is a likely place for consolidation to happen. Takaki Nakanishi from Jefferies Group LLC tells Bloomberg the country's car market could combine to just three or fewer major players by 2020, from seven today. "To have one or two carmakers in a country is not only natural, but also helpful to their competitiveness," Nakanishi told Bloomberg. "Japan has just too many and the resources have been too spread out. It's a natural trend to consolidate and reduce some of the wasted resources." Nakanishi's argument echoes Marchionne's reasons to push for a merger between FCA and General Motors. Automakers spend billions on research and development, but their competitors also invest money to create the same solutions. Consolidating could conceivably put that R&D money into new avenues. "In today's global marketplace, it is increasingly difficult for automakers to compete in lower volume segments like sports cars, hydrogen fuel cells, or electrified vehicles on their own," Ed Kim, vice president of Industry Analysis at AutoPacific, told Autoblog. Even without mergers, these are the areas where Japanese automakers already have partners for development. Kim cited examples like Toyota and Subaru's work on the BRZ and FR-S and its collaboration with BMW on a forthcoming sports car. Honda and GM have also reportedly deepened their cooperation on green car tech. After Toyota's recent buyout of previous partner Daihatsu, Nakanishi agrees with rumors that the automotive giant could next pursue Suzuki. He sees them like a courting couple. "For Suzuki, it's like they're just starting to exchange diaries and have yet to hold hands. When Toyota's starts to hold 5 percent of Suzuki's shares, this will be like finally touching fingertips," Nakanishi told Bloomberg. "I absolutely do believe that we are not finished seeing consolidation in Japan," Kim told Autoblog. Rising development costs to meet tougher emissions regulations make it hard for minor players in the market to remain competitive. "The smaller automakers like Suzuki, Mazda, and Mitsubishi are challenged to make it on their own in the global marketplace. Consolidation for them may be inevitable." Related Video: