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Mitsubishi Super Height K-Wagon previews the kei car of the 2020s

The door-less, turbine-electric Mi-Tech concept was the uncontested star of the Mitsubishi display at the 2019 Tokyo Motor Show, but the Japanese firm also unveiled a close-to-production design study named Super Height K-Wagon that accurately previews its next family of kei cars. It transcends the historic city-only vocation by letting owners comfortably drive further. The Super Height K-Wagon's proportions are about what you'd expect from a kei car, but its front end falls in line with Mitsubishi's current design language by adopting the X-shaped motif seen on other models, like the Eclipse Cross. Even a humble kei car can't escape crossoverization; designers echoed Mitsubishi's SUVs by adding black plastic trim over the wheel arches and the rocker panels. Mitsubishi took advantage of the concept's relatively long wheelbase to carve out a spacious, family-friendly interior. The driver sits higher than in a normal city car, like the Mirage, and the rear passengers take their seats after opening a van-like sliding door. Clever use of space has always been a trademark of kei cars, and the Super Height K-Wagon is no exception. Technical specifications remain vague. Mitsubishi outlined a high-performance engine that shifts through a continuously variable transmission (CVT). To qualify for kei car status, its engine can't displace more than 660 cubic centimeters, and it can't make more than 63 horsepower. And, proving once again that small doesn't always mean basic, the Super Height K-Wagon is packed with electronic driving aids like a collision-mitigation system, and lane-keeping assist. Mitsubishi boss Takao Koto called the Super Height K-Wagon concept the second wave of next-generation kei cars, and confirmed the concept will enter production by the end of the current fiscal year, which ends on March 31, 2020. Don't expect to see it in the United States, though. Featured Gallery Mitsubishi Super Height K-Wagon concept Tokyo Motor Show Mitsubishi Minivan/Van Concept Cars 2019 tokyo motor show

Even Ferrari swept up in latest Takata recall expansion

The scope of Takata's deadly airbag problems continues to widen. Eight manufacturers announced recalls Friday that affect more than 12 million vehicles, according to documents filed with federal regulators. The automakers include Honda, which is recalling 4.5 million units, Fiat Chrysler with 4.3 million, Toyota with 1.65 million, and Subaru, which is recalling almost 400,000. Some of these cars include the Saab 9-2x and Pontiac Vibe that Toyota and Subaru made for General Motors. Mazda will recall 730,000 vehicles and Nissan has 400,000 affected units. The smallest numbers were posted by Mitsubishi, with 38,000 Lancers manufactured from 2006 to 2007, and as a noteworthy high-end manufacturer, Ferrari is calling back 2,800 vehicles. These are all US-market cars. Beyond America, the Japanese Transport Ministry has announced seven million additional vehicles will be recalled, which means 19.6 million vehicles across the globe are affected by recalls announced. The defects have been traced to an insufficiently manufactured airbag inflator, which lacks a drying agent that would prevent the inflators from deteriorating over time. Thirteen deaths have been linked to the faulty airbags, which have become unstable and are prone to exploding and showering vehicle occupants with lethal amounts of metal shrapnel. A private equity firm, KKR & Co., has been named in a possible buyout of the struggling Takata. Related Video: News Source: ReutersImage Credit: Shutterstock Government/Legal Recalls Ferrari Honda Mazda Automakers Mitsubishi Nissan Pontiac Subaru Toyota Saab Safety

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.