Mitsubishi Galant 2003 4door Sedan De on 2040-cars

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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.

Junkyard Gem: 1990 Mitsubishi Montero

Americans had been buying Mitsubishi-made pickups (badged as Plymouth Arrows and Dodge Ram 50s) for the better part of a decade when the Americanized version of the Pajero SUV appeared in American Mitsubishi showrooms. Naturally, there was a Dodge-badged version as well (known as the Raider), but finally Americans could buy a bouncy, off-road-capable SUV with big Mitsubishi badges all over it. The first-generation (1985-1991) Monteros have become quite rare, but I found this high-mile example in a Denver yard a few weeks back. You won't often see a late-1980s/early-1990s Mitsubishi with more than 200,000 miles on the clock, but Monteros held their value longer than Mighty Maxes and Mirages. I couldn't find any meaningful rust on this one, but the interior looked pretty tired. Under the hood we find the ubiquitous 3.0-liter 6G72 V6 engine, which found its way into everything including Chrysler minivans, Mitsubishi Diamante luxury sedans and even 1990s Hyundai Sonatas. Mitsubishi got its money's worth out of this engine, which stayed in production from 1986 through 2011 (in China). Most of the early Raiders and Monteros I've found in junkyards had manual transmissions, but this one shows the direction American SUV buyers were headed in 1990: two pedals, no shifting. It still lacks the dozen cupholders of later US-market trucks, of course. The Montero name went on Pajeros sold in North and South America, while UK-market trucks got Shogun badging. This beefy grab bar for the front-seat passenger suggests the kind of rugged driving environments not much like the highway commutes now used by SUVs in North America. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Just the vehicle for contemplating the ocean... or racing. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mitsubishi: Suddenly, the obvious choice.

WM Motors releases renderings based on Mitsubishi photos

An interesting gaffe has reared its head as WM Motors has published the first images depicting its new car portfolio. The renders showing Chinese electric vehicle startup's future cars appear to have been based on Mitsubishi Outlander press photos, as discovered by Electrek's Fred Lambert. It is one thing to show mere renders of future cars – that is certainly widely accepted, as the cars are planned to be launched in 2018 at the earliest – but it's the background that gives away how the renders are based on doctored Mitsubishi shots. Details are shared between the Outlander and WM Motors' rendering, with wheels, mirrors and doorhandles directly lifted off the Mitsu; in practice, the comparison shots become a pastime of "spot the similarities." The SUV is said to be designed by a former Bentley and Volkswagen designer, Sam Sun, but it is not yet clear whether he meant the production vehicle to share its decorative rear diffuser panel with a Mitsubishi. Perhaps these were work images never really meant for official publication, as they handily show the SUV's dimensions on the road. In addition to Electrek, Google seems to also be on the game, as a reverse image search on the VM Motor shots produces Mitsubishi suggestions. According to Car News China, which circulated the images, WM stands for either Weltmeister (world champion in German), or weima in Chinese, which means a powerful horse. The company is spearheaded by Freeman Shen, formerly of Geely, and the Suzhou factory is planned to produce 50,000 cars per year starting in 2018. There is talk of the cars featuring Huawei connectivity technology, with the hardware being produced together with the German companies Bosch and Siemens. Related Video: Featured Gallery VW Motor Mitsubishi News Source: Electrek Green Weird Car News Mitsubishi Green Automakers SUV Electric