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Mitsubishi slashes annual profit forecast on slowing car sales

TOKYO — Mitsubishi Motors on Wednesday cut its full-year profit outlook by 67% as it expects sluggish demand in North America and China will continue, while a strong yen and research and development costs will also hurt the automaker's bottom line. Japan's sixth-largest automaker now expects operating profit to come in at 30.0 billion yen in the year to March, down from a previous forecast for 90.0 billion yen. The new outlook would be Mitsubishi's lowest profit since the year ended March 2017. The downgrade comes after Mitsubishi, in which Nissan holds a controlling stake, reported a 78% plunge in operating profit during the July-September quarter to 6.3 billion yen, lower than a mean forecast for 16.26 billion yen from analysts polled by Refinitiv. It joins a growing number of Japanese automakers which are bracing for lower profitability. Earlier on Wednesday, Subaru lowered its annual profit forecast due to a stronger yen and a cut in domestic output due to a major typhoon last month. Mazda and Suzuki have also cut their respective outlooks within the past month due to slowing demand for their cars. Earnings/Financials Mitsubishi

2018 Mitsubishi Eclipse Cross Quick Spin Review | Deserving of a clean slate

The 2018 Mitsubishi Eclipse Cross is named after a sport compact coupe, which was iconic to some and a sad reminder of its brand's slide into irrelevance to most others. That "Eclipse" is now attached to a compact SUV will likely cheese off the former and cause the latter to sarcastically mutter, "Yup, that seems about right." Mitsubishi's marketers would say it shares the old Eclipse's "reputation for driving dynamics and technology." Do with that what you will. For now, though, let's put aside what it's called. Well, beyond the fact it's comically long to say and difficult to type (I started calling it the Eagle Talon Cross for those reasons). Because really, the name straps a whole load of baggage to a mostly clean-slate vehicle that in concept is actually a smart move by a brand trying to climb back to relevance. In size, it straddles the line between B- and C-segment compact SUVs. In shape and style, it's set apart from the more utilitarian entries of both. Under the hood, it provides torque-rich turbocharged grunt in contrast to meek naturally aspirated rivals. The ample ground clearance and standard all-wheel drive (on most trims) take a page from the Subaru playbook that's been moving the chains so well. As we discovered when we compared its specs to those of vaguely similar SUVs, the Eclipse Cross is far more intriguing and potentially competitive than originally thought. Perhaps it's unfair to the car itself, but besides all that baggage attached to its name, it's also saddled with the expectations of recent Mitsubishi products that have been uncompetitive, dull or just plain bad. (The i-Miev is the worst and most embarrassing car I've ever driven, and I've driven a Yugo.) In short, the Eclipse Cross warrants a clean-slate appraisal. Sure, it shares its wheelbase with Mitsubishi's two Outlander SUVs and certainly other components as well, but in appearance, touch and driving feel, the Eclipse Cross is profoundly different. This is immediately obvious in the cabin that's far more contemporary in appearance. If you think it looks a bit like the Lexus NX interior, you certainly wouldn't be alone, right down to its touchpad tech interface (more on that later). Materials quality is also strong, and not just in comparison to its brand mates, but to the compact SUV segment as a whole.

Mitsubishi launches, prices 2018 Outlander PHEV for U.S.

We've been waiting on this one a long time. Mitsubishi has been selling the plug-in hybrid version of its Outlander crossover for a while now, just not here in the U.S. It has seen popularity overseas, though, and is Europe's best-selling plug-in hybrid. It surpassed the 100,000 sales mark back in early 2016, thanks to Europe and Japan. Now, Mitsubishi is looking to electrify our shores, and will bring the all-new Outlander PHEV to the U.S. by the end of the year. The Outlander PHEV is powered by a 2.0-liter engine and two 60-kW electric motors, one situated at each axle, for a total estimated output of 195 horsepower. That makes it all-wheel-drive as well, using Mitsubishi's Super All-Wheel Control (S-AWC) system borrowed from the Lancer Evolution, and it has already proven itself in off-road competition. A 300-volt, 12-kWh lithium-ion battery pack is located in the subfloor between the front and rear axles. It can be charged via plug (including DC fast-charging capability), or via the car's regenerative braking system (adjustable using paddle shifters). The vehicle features three different, automatically selected drive modes. EV Drive Mode makes use of the electric motors for all-electric driving. Parallel Hybrid Mode uses the gas engine to drive the front wheels, and provides added power from the electric motors as necessary (mainly at high speeds, where this mode is the most efficient). Series Hybrid Mode uses the gasoline engine as a generator to charge the battery and provide power to the electric motors, which are doing the propulsion work. There are also three driver-selected modes. Eco Mode reduces fuel and electricity consumption. Battery Save Mode conserves charge, operating in hybrid mode. Battery Charge Mode keeps the engine running to generate electricity and recharge the battery pack to make sure you'll have power for driving uphill or towing, for instance. EV driving range and fuel economy figures will be released soon, but Mitsubishi says it expects to exceed the premium competition (which offer about 14 miles of EV range). The Outlander PHEV is also big on technology. It offers a suite of safety systems, including blind spot and lane departure warnings, multi-view camera, adaptive cruise control, auto high beams, and forward collision mitigation. The vehicle offers a smartphone app that allows the owner to remotely control the charging schedule, climate control, lighting, vehicle settings, and monitor vehicle status.