2011 Mitsubishi Galant Fe Only 12000 Miles Flood Damage Runs Great on 2040-cars

Auto blog

Mitsubishi pondering $2B share sale?

Mitsubishi makes the brilliantly fast, wonderfully fun Lancer Evolution. Outside of that road-going rally car, the rest of the range is pretty poor - the new Outlander isn't bad, but the subcompact Mirage looks like might've been competitive five years ago, while the Galant and Lancer have suffered from serial neglect.
This hasn't just lead to rumors of Mitsu's death in America; the subsidiary of the massive Mitsubishi Group has been in trouble at home, too. It was bailed out by three other Mitsubishi Group companies - Mitsubishi UFJ Financial, Mitsubishi Heavy Industries and Mitsubishi Corporation - between 2004 and 2005, according to Bloomberg. Now, it's attempting to extricate itself from "emergency mode," as analyst Koichi Sugimoto told the financial site, adding that "they're still in the very early stages of recovery."
As part of the bailout, Mitsubishi issued its three saviors billions of dollars of preferred shares, which don't have voting rights. The problem is, Mitsubishi hasn't issued dividend payments since 1998, and these stocks aren't exactly competing with Apple or Google, in terms of value. In other words, they're mostly worthless. With a public offering, Mitsubishi is expecting to raise 200 billion yen, or about $2 billion, in order to reduce the number of preferred shares. If all goes according to plan, it will wipe out preferred shares by March of 2014, or the end of fiscal year 2013.

Mitsubishi readies trio of hybrid utility concepts for Tokyo

Mitsubishi has announced a trio of concept cars it will bring to the 2013 Tokyo Motor Show, set to kick off later this month. The three concepts all sport new, edgy styling that is quite a departure from the Mitsus we see here in the states.
First up, we have the Concept GC-PHEV, which we're guessing is the middle vehicle in the photograph up top, as it's supposed to be a larger SUV - think Outlander for this one. From a powertrain standpoint, it sounds quite impressive. A 3.0-liter, supercharged, MIVEC V6 syncs up with an electric motor and a plug-in battery pack, while an an eight-speed automatic transmission dispatches power to all four wheels.
Next, we have the Concept XR-PHEV. We're taking a step down from the GC here, as the XR is meant to compete in the compact-crossover market, which means this could pre-sage the next Outlander Sport. Like the GC, though, it takes advantage of a hybrid powertrain, with a turbocharged, 1.1-liter direct-injection engine providing the grunt. The front-driver also sports a lightweight motor and battery, although specific details about both are scarce. We're thinking the XR-PHEV is the smaller, red vehicle on the right of the image up top.

Mitsubishi leaving US? No, it's doubling its marketing budget

We rarely hear any major news coming out of the National Automobile Dealers Association (NADA) annual meeting in Orlando, FL, but Mitsubishi executives found this a fitting place to announce a big push for increased advertising here in the US. A report in Automotive News states that the struggling Japanese automaker is returning to advertising in prime time television for the first time since 2005, with the push slated to begin in June and July for the launch of the 2014 Mitsubishi Outlander shown above.
Despite dwindling sales and a shrinking lineup, Mitsubishi's new North American chairman, Gayu Uesugi, has said on multiple occasions that the automaker has no plans to abandon the US market. Spending extra money on marketing and advertising should be a good start to help improve sales, but a lack of fresh and competitive products is also keeping showrooms empty. Aside from the new Outlander, the AN report says that Mitsubishi spokesman Roger Yasukawa said that a "yet-to-be-named subcompact" will arrive this year, which suggests the unnamed hatchback shown below (known elsewhere as the Mirage), could be heading to the US after its North American introduction at the Montreal Auto Show last month.