2003 Mitsubishi Lancer Evolution Race Chassis (certificate Of Destruction Title) on 2040-cars

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Mitsubishi admits to tampering with fuel economy data

Mitsubishi admitted this week to intentionally rigging fuel-economy testing in four of its models sold in Asia. The affected models are all so-called Kei class cars with sub-660cc engines manufactured at Mitsubishi's Mizushima plant in Okayama, Japan. About 157,000 of those cars are Mitsubishi eK wagons and eK Space models, and 468,000 are re-badged Nissan Dayz and Dayz Roox cars, which Mitsubishi produces for Nissan. The matter came to light after Nissan found inconsistencies in reported mileage data, which then led to Mitsubishi launching an internal investigation. The fraud was discovered to be related to falsified tire pressure data, which has an effect on mileage results – an important matter considering these kinds of vehicles are marketed by fuel economy. Mitsubishi said it has stopped manufacturing and marketing the affected vehicles. The news caused Mitsubishi's stock to plummet over 15 percent, slicing $1.2 billion off the company's value. When the eK models hit the market three years ago, they were decorated with a Good Design Award by the Japanese Ministry of Economy – a merit that is now surely tarnished. While Mitsubishi has been suffering in the US recently, with news of the Normal, Illinois plant closing, its small Mirage model has sold well. Related Video: Image Credit: Getty Images Green Plants/Manufacturing Mitsubishi Nissan Fuel Efficiency Hatchback Minivan/Van kei cars minicars

Mitsubishi Outlander PHEV now for real due in 'late summer, early fall'

Any day now, American plug-in vehicle shoppers will be able to actually buy a plug-in hybrid SUV. Europeans and Japanese buyers have had this option for many years, since the Mitsubishi Outlander PHEV went on sale in those markets in 2013. There have been plenty of diversions in the route that is bringing the big PHEV to our shores, but it's looking like, "late summer, early fall," is when thing will for real happen. 10-20 percent of total Outlander sales would be "a very good number." That's the message from Don Swearingen, executive vice president of Mitsubishi Motors North America (MMNA), who we spoke to at the New York Auto Show where the PHEV made its debut appearance. Swearingen said that the dealers are as ready as the customers. "As we talked to our dealer council, they are all very interested in this product," he said. "[Range anxiety was] eliminated with this vehicle, and because of that, I think we are going to have some pretty good response." Swearingen didn't put a specific number to that claim, but said that 10-20 percent of total Outlander sales (which currently sit at around 2,000 a month) would be "a very good number." Previously, Mitsubishi representatives said they expected to sell 4,000 PHEV units in the first year. As we've documented over the years, there were a number of reasons for why the US didn't get the first batch of Outlander PHEVs. One of the big ones was that the PHEV was selling like gangbusters elsewhere. It's the best-selling PHEV in all of Europe, for example, and was the fourth-best-selling plug-in vehicle anywhere in February 2016. And Mitsubishi just couldn't make enough of them. Swearingen said the main bottleneck for this was the battery pack supplier Lithium Energy Japan, which didn't have the capacity to make more than it did. So, instead of leaving three markets without enough supply, Mitsubishi decided to leave one in the lurch and focus on the other two. Plus, since the Outlander PHEV will be based on the 2017 gas-powered Outlander, it will come with numerous safety enhancements as well as the 100+ improvements that the 2016 Outlander got compared to the 2015. In other words, all the pieces are all coming together. The Outlander PHEV is "the best of both worlds." - Francine Harsini At least, that's what Francine Harsini, MMNA's senior director of marketing, said. The final important part are the customers, and Harsini said that Mitsubishi will be a big national marketing push. The general theme?

PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan