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Junkyard Gem: 1990 Mitsubishi Mirage Sedan

In the early 1970s, Chrysler (lacking funds to develop a brand-new subcompact for the American market) began importing Mitsubishi Colt Galants and putting Dodge Colt badges on them. Chrysler's relationship with Mitsubishi deepened over subsequent decades, with numerous Mitsubishis sold here with Dodge, Plymouth, Chrysler, and Eagle badging. That didn't stop Mitsubishi Motors from selling some of the very same vehicles, though, once sales of Mitsubishi-badged cars and trucks began here in the 1983 model year. Starting in 1979, Colt badges moved over to the front-wheel-drive Mirage, with the Mirage itself appearing here for the 1985 model year. Here's one of those cars, a rare 1990 sedan in a Denver self-service yard. In 1990, Americans could choose between four near-identical versions of this car sold by different marques: the Mitsubishi Mirage, Dodge Colt, Plymouth Colt, and Eagle Summit. The MSRP on the '90 Mirage sedan was $8,559 (about $15,015 in 2022 dollars) and the prices of the other three were so close as to make no real difference; customers could just shop for the best rebates and financing. Americans couldn't get this generation of the Dodge/Plymouth Colt as a sedan, though Canadians could. Most of the Mirages and Summits sold here were hatchbacks, but Mitsubishi and Eagle dealers probably wanted something to compete with the Civic and Corolla sedans of the era. Mitsubishi certainly got its money's worth out of the 4G aka Orion engine family! This is a 1.5-liter SOHC 4G15, rated at 81 horsepower. The early Hyundai Excel (and its Mitsubishi-badged twin, the Precis) got a version of this engine. If you bought the Mirage Turbo, you got a DOHC version displacing 1.6 liters and blasting out 135 horses (but it was only available here until 1989 and just as a hatchback). That 81 horsepower was even less fun than it sounds, in this case, because the original buyer of this Mirage skipped the standard-equipment five-speed manual and paid extra for the three-speed automatic. It has air conditioning, with the "Econo" mode that was so popular among 1980s Japanese cars. Not quite 100,000 miles passed beneath its wheels during 32 years of service. At some point, a set of Mercury Tracer hubcaps was slapped on the unsightly steel wheels. The lug holes don't line up, but who's going to notice? Sold out of the now-defunct Ehrlich dealership in Greeley, Colorado, back when you could buy an Isuzu or a Nissan on the same lot.

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.

Pristine, time-traveling 2006 Mitsubishi Evo sells for $138K

Remember that never-sold 2006 Mitsubishi Lancer Evolution we told you about last week? The one with 9 miles on the odometer, its seats wrapped in plastic and never titled? And that had already earned a bid of $100,100 on eBay? Well, that Evo has now sold for a hair under $138,000, Road and Track reports. That's $100,000 over its original sticker price of $37,094. The seller was South Coast Mitsubishi in Orange County, Calif., which one Reddit user claims has stockpiled multiple Evos and sold them off at a premium. This high-fetching Evolution is an IX MR model in Graphite Gray with black trim, a six-speed manual, all-wheel-drive transmission. It's optioned with the MR package that includes some aluminum and carbon-fiber bits and boost-gauge kit, plus the Zero Lift aero kit. Under the hood is a 2.0-liter, 16-valve inline four-cylinder, 286 horsepower engine with 289 pound-feet of torque. It can do 0-to-60 in 4.4 seconds. The car's production run ended with the 2015 model year. The car fielded a total of 80 bids, which started at $30,000. Related Video: News Source: Road and TrackImage Credit: eBay Weird Car News Mitsubishi Sedan eBay