2005 Mitsubishi Lancer Ralliart Sedan 4-door 2.4l on 2040-cars

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Mitsubishi Mirage configurator is alive

Well, here's the butter knife Mitsubishi is bringing to the subcompact gun fight. It's called the Mirage, and its configurator has just gone live on Mitsubishi's consumer page, allowing those that absolutely must have a brand-new car for not a lot of money (and have never heard of the Nissan Versa, Mazda2, Chevrolet Spark or Ford Fiesta) to build their perfect example.
Prices start at $12,995 for a base DE model with a five-speed manual transmission and $14,195 for the up-market ES with the same transmission. A 74-horsepower, 1.2-liter engine is the sole powerplant. Both trims feature a continuously variable transmission for an extra $1,000 and a range of eight exterior colors, while black is the sole interior color.
Fully loaded with all the assorted packages - there are 10 on the ES model, adding things like navigation, a backup camera and LED ambient lights - the Mirage checks out at $19,540. Feel free to have a go at the configurator yourself.

Junkyard Gem: 2001 Mitsubishi Eclipse GT coupe

2001 was an eventful year for sport compacts, with "The Fast and the Furious" hitting the big screen and the "spider eye" Acura Integra entering its final model year. Mitsubishi Motors North America had released a new version of the Eclipse the year before, bigger and more luxurious than its predecessors; today's Junkyard Gem is one of those third-generation Eclipses, the fastest and most furious version available in 2001: a GT coupe with V6 engine and five-speed manual transmission, found in a Colorado Springs boneyard recently. Named for a 17th-century racehorse, the Eclipse (not to be confused with the present-day Eclipse Cross) began life in the 1990 model year as a Galant-based liftback coupe built in partnership with Chrysler at the new Diamond-Star Motors plant in Normal, Illinois (where Rivians are born today). Chrysler sold its own versions of the Eclipse for a while, with the Plymouth Laser produced through 1994 and the Eagle Talon surviving until the Eagle brand's demise in 1998. By the time this car was built, its closest relatives were the Galant, the Chrysler Sebring coupe and the Dodge Stratus coupe. The MSRP for the GT Coupe was $20,947, or about $35,789 in 2023 dollars. You could get a brand-new Integra GS-R for $22,300 ($38,101 today) in 2001, while the Dodge Neon ACR listed at just $13,845 ($23,655 now). This car was quite a bit more powerful than the 170-horsepower Integra GS-R, with this 3.0-liter 6G72 V6 and its 210 horses under the hood. The workhorse 6G72 went into far too many Mitsubishi, Chrysler and Hyundai vehicles to list here; highlights include the Chrysler TC by Maserati, the Chrysler LeBaron, the Mitsubishi Montero/Dodge Raider, the Mitsubishi Diamante and the Mitsubishi 3000GT/Dodge Stealth. This car has the five-speed manual transmission, as is proper. Buyers who insisted on the four-speed automatic had to shell out an extra grand, or $1,709 after inflation. This car appears to have been in decent cosmetic condition when it arrived at its final parking spot. These stickers were mandatory equipment on Eclipses during the 2000s. Likewise with multiple-bolt-pattern aftermarket wheels. This generation of Eclipse stayed in production through 2004, with its successor continuing to be sold through 2012. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

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.