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Mitsubishi Motors posts surprise loss as car sales slide

TOKYO — Mitsubishi Motors on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and Southeast Asia, as well as a stronger yen. The carmaker posted an operating loss of 6.6 billion yen ($60.2 million) for the October-December quarter, widely missing an average forecast for a profit of 11.6 billion yen, based on analyst estimates compiled by Refinitiv. It was the firm's biggest loss since the July-September 2016 quarter, when a mileage cheating scandal sapped profits. However, Mitsubishi stuck to an earlier forecast for a 73% drop in full-year operating profit to 30 billion yen in the fiscal year ending in March. The automaker's net loss for the quarter just ended came in at 14.4 billion yen. The fall in quarterly sales was worst in China and at home, while sales also slipped in ASEAN countries, traditionally a stronghold, leading to a 16% fall in global vehicle sales to 320,000 units. The automaker also said it would keep some of its offices in China closed through Feb. 9, as a new coronavirus spreads throughout the country and beyond. The automaking alliance of Mitsubishi, Renault and Nissan on Thursday said they had "no other option" but to drastically improve their joint operations to remain competitive in the fast-changing global auto industry. Related Video:           (Reporting by Naomi Tajitsu; editing by Richard Pullin) Earnings/Financials Mitsubishi

Elon Musk: Teslas will already know where we’re going

In the future, cars will drive us. And probably not surprisingly, they'll often know where to go without us even needing to tell them. That's the theme of a short back-and-forth conversation on Twitter recently between Tesla founder and CEO Elon Musk and a user who tagged him in a comment suggesting that "it would be cool" to be able to tell a car where to go. Responding to user James Harvey, Musk replied, "It won't even need to ask you most of the time." Later, after Harvey asked how the car would know where he wants to go, another user suggested that the car would know what time you go to work. "Yeah, don't exactly need to be Sherlock Holmes," Musk tweeted. It won't even need to ask you most of the time — Elon Musk (@elonmusk) October 21, 2017 Yeah, don't exactly need to be Sherlock Holmes. — Elon Musk (@elonmusk) October 21, 2017 That the ability to know where we're going will be part of our future driving experience shouldn't be surprising. After all, the smartphones we carry around already possess the ability to predict what we want — think Google's cleverness in tailoring search results or providing traffic information just before your commute, Facebook's highly customized News Feed content or even auto-fill technology, which can predict the words you're typing. And plenty of automakers have been touting their own work in developing in-car artificial intelligence systems. Like Audi's Elaine concept, which will be able to learn, think and even empathize with drivers. Or Mitsubishi's e-Evolution concept, which can not only assist your driving, but also assess your skills and teach you how to improve them. Tesla's vehicles, of course, are being outfitted with all the latest autonomous driver-assist technology, with the automaker eager to one day reach full Level 5 self-driving capability. According to Inc., Teslas will be able to listen and respond to directional commands, and they'll even have access to your calendar to comb for information about where you need to go. Tesla has also said it's developing an update to its Autopilot hardware and remains on track to achieve full Level 5 autonomous driving by the end of this year, which strikes a lot of people as wildly unrealistic. At any rate, the promise of cars knowing what time we're sneaking out to get donuts or picking up the kids is interesting, coming from the man who has warned that AI presents "a fundamental risk to the existence of human civilization."Related Video:

Mitsubishi Outlander PHEV delayed until early 2016 in US

The Mitsubishi Outlander Plug-in Hybrid has been a noteworthy success for the Japanese brand with over 33,000 sales sold worldwide as of the summer of 2014. Unfortunately, the electrified crossover has seen continual delays for its planned North American debut. The latest news about the model pushes back its launch even more. The Outlander PHEV now isn't slated to go on sale in the US until roughly April 2016, according to Mitsubishi North America Executive Vice President Don Swearingen in Automotive News. Dealers are clamoring for the plug-in hybrid crossover, though. "That is going to be a vehicle that really sets us apart from the competition," said Ryan Gremore, 2015 chairman of the Mitsubishi National Advisory Board, to AN. Multiple postponements have plagued the Outlander PHEV in arriving to the US. It was once rumored to launch here in the fall of 2014, but a battery shortage pushed the date to 2015. Subsequently, a California mandate to fit a sensor to monitor degradation of the lithium-ion batteries caused another delay until late 2015 or early 2016. In foreign markets, the Mitsubishi CUV plug-in offers a 12-kWh battery and electric driving range of about 30 miles. However once sales actually begin, the US version is supposed to be completely different with a retuned hybrid system, which could alter these figures. The styling and interior are also supposed to see a change, possibly like the attractively reskinned PHEV Concept-S from the 2014 Paris Motor Show.