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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.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Mitsubishi EVs manage 1-2 division win at Pikes Peak *UPDATE

*UPDATE: Monster's time has now officially been posted as 9:43.9. Looks like coming back for a third crack at the mountain was the right move for Mitsubishi. At the 2014 Pikes Peak International Hill Climb this past weekend, the two all-electric Mitsubishis, one piloted by Greg Tracy, the other by Hiroshi Masuoka came in first and second, respectively, in the Electric Vehicle division. The EVs were the third iteration of the MiEV Evolution prototype racer, which until now has had a tough time getting to the top of the podium. The first version crashed in 2012 and came in second and third – behind Nobuhiro "Monster" Tajima – last year. This year, Monster suffered a transponder glitch and his final time could only be estimated at 9:46 was 9:43.9. That's pretty much the same as last year, when he finished with a 9:46.530. Last year, the Mitsubishi duo finished with times of 10:21.866 (Masuoka) and 10:23.649 (Tracy), So, if Monster equaled his time from last year, then the Mistubishi drivers must have improved their times up the hill to beat him. They did more than that, though, dramatically lowering their times to 9:08.188 (Tracy) and 9:12.204 (Masuoka). What's most impressive is that Tracy's low time was just 2.4 seconds behind overall winner Romain Dumas, who drove a gasoline-powered Le Mans sports car prototype up the hill. Find more details below. MITSUBISHI MOTORS SCORES AN IMPRESSIVE 1-2 FINISH IN THE 2014 PIKES PEAK INTERNATIONAL HILL CLIMB Drivers Greg Tracy and Hiroshi Masuoka dominate the Electric Vehicle division in the innovative Mitsubishi MiEV Evolution III racing prototype Mon, Jun 30, 2014 - Colorado Springs, Colorado - A pair of Mitsubishi Motors North America, Inc. (MMNA) technologically advanced MiEV Evolution III all-electric prototype racecars placed first and second within the Electric Vehicle division in the 92st running of the famous Pikes Peak International Hill Climb (PPIHC) on Sunday, June 29th in the skillful hands of six-time PPIHC motorcycle champion Greg Tracy and two-time Dakar Rally winner Hiroshi Masuoka, respectively. Finishing a mere 2.4 seconds behind overall 2014 Pikes Peak race winner Romain Dumas and his gasoline-powered Le Mans sports car prototype, the stage has been set for highly energy-efficient and sustainable electric-powered vehicles like the Mitsubishi MiEV Evolution III to soon become the dominant force in this challenging one-of-a-kind motorsport competition.