2013 Mitsubishi Lancer Sportback Gt on 2040-cars

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Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

2015 Mitsubishi Outlander Sport recalled for leaky transmission

The Basics: Mitsubishi Motors is recalling 45,731 Outlander Sport crossovers from model year 2015. Built between June 25, 2014 and November 25, 2015, the affected vehicles use the base 2.0-liter four-cylinder engine and continuously variable transmissions. The Problem: A clamp on the CVT hose may have been installed incorrectly. If the hose comes off, transmission fluid can leak out. While the transmission will start acting up – and eventually grind to a halt – the bigger concern is what happens if the transmission fluid comes into contact with hot surfaces: fire. Injuries/Deaths: Thankfully, it doesn't sound any owners have crashed, caught fire, or been injured or killed due to loss of transmission fluid. Mitsubishi didn't list injuries or fatalities in its recall paperwork with NHTSA, but the chronology only describes "warranty claims," which sounds like the vehicles never caught fire. The Fix: Dealers will inspect the hose clamps on all 45,000 Outlander Sports and reinstall them if there's a problem. Repairs are free of charge. If you own one: Since NHTSA's bulletin doesn't advise owners on whether they should or shouldn't drive their vehicles, we recommend looking for leaks and checking your transmission fluid level as soon as possible. If it's low or leaking, you probably shouldn't drive. Featured Gallery 2015 Mitsubishi Outlander Sport View 9 Photos News Source: NHTSAImage Credit: Mitsubishi Recalls Mitsubishi Crossover Economy Cars

2020 Mitsubishi Outlander Sport shows its big, new face in America

The 2020 Mitsubishi Outlander Sport initially showed us its new sheetmetal at the Geneva Motor Show, but we got a chance to check out the vehicle in the flesh at the company's research and development center in Ann Arbor, Mich., today. Nearly everything we learned about the Outlander Sport (known as the ASX in other markets) before applies to the North American version of the vehicle. However, one aspect we were uncertain of was the continued presence of the manual transmission. We asked, and Mitsubishi is officially dropping the stick shift version of the Outlander Sport with this update. It was previously only available on the base trim level, exclusively paired with the 2.0-liter four-cylinder engine. Mitsubishi was one of the last holdouts to offer a manual transmission option in the small crossover market, and now they're officially out. Three-pedal versions of the Outlander Sport represented just 2% of total model sales, so the business case just wasn't there anymore. We confirmed that the powertrains from the 2019 model year car will carry over to the 2020 Outlander Sport, which means you'll have the choice between the 148 horsepower 2.0-liter or the 168 horsepower 2.4-liter four-cylinder. Both engines are paired to a CVT. Of course, all-wheel drive will also continue to be available optionally. The big changes are in the styling that Mitsubishi thinks will make it stand out among competitors. Looking at the crossover directly in the face gives us a real truck-like and rugged vibe. This is where Mitsubishi put most of its eggs, appealing to folks who want a tougher looking vehicle. To our eyes, the execution comes off as a bit haphazard, lacking in cohesiveness with the sheer number of things going on. There's gray satin plastic, piano black plastic and flat black plastic all hanging out next to each other. Then the "shield" sort of juts outward at us, standing in stark contrast with the shiny reflective surfaces on either side of it. Judge for yourself, but the previous design was slick and much simpler than this mash up. Mitsubishi kept things relatively subdued out back, and we like the evolution of the taillights and rear bumper here. There isn't much to speak about down the sides other than a different wheel design and a small fake vent added. One could argue the interior was the Outlander Sport's sorest point, but sadly Mitsubishi chose to neglect this part of the car.