2009 Mitsubishi Lancer Ralliart, One Owner, Recaro, R. Fosgate, Xenon, Carbon F on 2040-cars

Auto blog

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.

Nissan and Carlos Ghosn settle SEC claims over undisclosed compensation

WASHINGTON — Nissan and its former Chief Executive Carlos Ghosn have agreed to settle claims from the U.S. Securities and Exchange Commission over false financial disclosures related to Ghosn's compensation, an SEC statement said on Monday. Nissan will pay $15 million, while Ghosn agreed to a $1 million civil penalty and a 10-year ban from serving as an officer or director of a publicly traded U.S. company, the SEC statement said. Ghosn was arrested in Japan and fired by Nissan last year. He is awaiting trial in Tokyo on financial misconduct charges that he denies. Former Nissan human resources official Gregory Kelly agreed to a $100,000 penalty and a five-year officer and director ban. Nissan, Ghosn, and Kelly settled without admitting or denying the SEC's allegations and findings. The SEC said in total Nissan in its financial disclosures omitted more than $140 million to be paid to Ghosn in retirement — a sum that ultimately was not paid. The SEC also accused Ghosn in a suit filed in New York that he engaged in a scheme to conceal more than $90 million of compensation. That suit is being settled as part of the agreement announced Monday. Nissan confirmed it had settled the allegations and said it "is firmly committed to continuing to further cultivate robust corporate governance." Nissan provided significant cooperation to the SEC, the agency said. The company now has a new governance structure with three statutory committees — audit, compensation and nomination — and has amended its securities reports for all relevant years. The SEC said beginning in 2004 Nissan's board delegated to Ghosn the authority to set individual director and executive compensation levels, including his own. The SEC said "Ghosn and his subordinates, including Kelly, crafted various ways to structure payment of the undisclosed compensation after Ghosn's retirement, such as entering into secret contracts, backdating letters to grant Ghosn interests in Nissan's Long Term Incentive Plan, and changing the calculation of Ghosn's pension allowance to provide more than $50 million in additional benefits." "Investors are entitled to know how, and how much, a company compensates its top executives. Ghosn and Kelly went to great lengths to conceal this information from investors and the market," said Stephanie Avakian, co-director of the SEC's Division of Enforcement.

Mitsubishi Pajero successor still years away, but plug-in hybrid tech likely

You might not know it from looking at today's Mitsubishi showrooms, but the struggling Japanese automaker has a pretty enviable reputation for producing robust off-roaders. Its Pajero SUV built a solid reputation worldwide on the back of its durability in harsh climates, earning it consideration alongside the likes of venerable explorers like the Toyota Land Cruiser and Land Rover Range Rover. Unfortunately, the Pajero eventually succumbed to one particularly harsh climate - the North American truck market. After enjoying a long run, Mitsubishi finally pulled the plug on the SUV's Montero twin after the 2006 model year. Blame evolving consumer tastes, low brand visibility, a lackluster marketing budget, or the need for updated product - in fact, go ahead and blame all of the above.
Despite its age, the current fourth-generation Pajero (itself arguably an extensive rework of the previous model) has been carrying a lot of water for the brand in other parts of the world since its debut in 2006. So it's pretty well time for a new one. Problem is, its replacement is still a ways off. That's according to Australia's Go Auto, which has learned that the next-generation Pajero could still be three years away, if not longer.
According to Go Auto, the next model will be a much-changed beast, with design targets including a major weight loss and increased efficiency to go along with more luxurious appointments. In order to make gains in fuel economy, the plug-in hybrid technology that the company has already introduced for its new Outlander crossover will likely be a part of the SUV's development program.