2003 Mitsubishi Montero Limited Sport Utility 4-door 3.8l on 2040-cars

Auto blog

2013 Mitsubishi Outlander GT

I'm not a gambling man, but if there were a pool for an automotive death watch, my money would be on Mitsubishi... Lincoln is a close second. To understand the plight of Mitsubishi, you only have to look at its current lineup; they all just look, feel and drive about 10 years older than they really are. With the departure of the Endeavor and merciful killing of the Eclipse (the Galant lives on, but is on hiatus for the 2013 model year), one of the worst remaining offenders is the Mitsubishi Outlander, which I recently drove in top-level GT trim for this Quick Spin.
If we had a time machine and took the 2013 Outlander GT back to 1998, it would be revolutionary. If we could take it back to 2004, it might be near the top of its class. But in the current highly competitive crossover segment of today, the Outlander just falls short. Yes, the all-new 2014 Outlander is on its way later this year, but from what we've seen both inside and out, the new design would look great in 2008. That being said, spending a week with any vehicle can point out surprising highs as well as lows, and there are still plenty of reasons to enjoy Mitsu's midsize CUV.
Driving Notes

Junkyard Gem: 2004 Mitsubishi Lancer Ralliart

I do manage to find the occasional discarded Mitsubishi Lancer Evolution during my Denver-area junkyard explorations, but such cars— like their Subaru WRX rivals— are always far too crashed and/or stripped to be worth documenting for this series. When it comes to the Mitsubishi Lancer O-Z Rally Edition, though, I get the impression that just about every Lancer sold here during the first part of the 2000s had that all-show-and-no-go package; after shooting several examples, I no longer pay attention to the O-Z Rally. The Ralliart Lancer, on the other hand, was a genuine factory hot-rod, with much more power and a stiffer suspension than the ordinary Lancer. We saw a used-up bright yellow '05 Ralliart last year, and now here's a black '04 in a different Denver yard. The Lancer Ralliart wasn't anywhere near as fast and crazy as its Evolution sibling, but (compared to the base Lancer) it came with more power, bigger brakes, stiffer suspension, better steering, and bucket seats sourced from the JDM Evolution GTA. List price was $18,572 (about $26,110 today), far cheaper than the $29,999 ($42,175 today) Evo VIII. The regular Lancer sedan had an unimpressive 120 horses from its 2.0-liter engine in 2004, while the Lancer Ralliart got this 162-horse MIVEC 2.4. Just in case you were wondering, MIVEC stands for Mitsubishi Innovative Valve-Timing-and-Lift Electronic Control, which doesn't sound as cool as VTEC, but at least seems more convincing than Daewoo's D-TEC. Nearly every O-Z Rally Lancer I see has an automatic transmission, but this Ralliart rolled out of the showroom with a genuine 5-speed manual and Evo shifter. The Japan-market front seats are a bit racier than the ordinary Lancer's, too. Though it is a Colorado car and drivers here think they need AWD to navigate a quarter-inch of snow in the supermarket parking lot, it lacks the all-wheel-drive system that went on the Evo. What more do you want for $18,572? I'm a bit surprised that some local Lancer owner didn't snag the factory strut-tower brace immediately, but I'll bet someone buys this part before the car gets crushed. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. So fast. So furious. 

Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.