2003 Mitsubishi Galant Es Sedan 4-door 2.4l on 2040-cars

Auto blog

Trump declaration they're a security threat stuns Japanese automakers

TOKYO — Japan's automakers' lobby said on Tuesday it was dismayed by President Donald Trump's declaration that some imported vehicles and parts posed a threat to U.S. national security, as the industry braces for a possible rise in U.S. tariffs. Trump made the unprecedented designation of foreign vehicles on Friday but delayed for up to six months a decision on whether to impose tariffs to allow for more time for trade talks with Japan and the European Union. "We are dismayed to hear a message suggesting that our long-time contributions of investment and employment in the United States are not welcomed," said Akio Toyoda, chairman of the Japan Automobile Manufacturers Association. "As chairman, I am deeply saddened by this decision," Toyoda, president of Toyota, said in a statement. Trump has threatened to impose tariffs of up to 25% on imported cars made by foreign automakers, a move which automakers have argued would ramp up car prices, curb the global competitiveness of U.S.-made vehicles and limit investment in the country, the world's No. 2 auto market. The United States is a vital market for Toyota, Nissan, Honda and other Japanese car makers. Autos and components are among the Asian country's biggest export products. Most of Japan's major automakers operate plants in the United States. The Japan Automobile Manufacturers Association notes that its automakers build about 4 million vehicles a year in North America, or 75 percent of what it sells here. Many are built for export, helping lessen the U.S. trade deficit Trump is concerned about. Major automakers have announced a slew of investments in the United States since Trump took office in January 2017 and put pressure on the industry to create more U.S. jobs. For its part, Toyota has pledged to invest almost $13 billion in the United States between 2017 and 2021 to boost manufacturing capacity and jobs. This includes $1.6 billion for a vehicle assembly plant in Alabama jointly run with Mazda. Government/Legal Honda Mazda Mitsubishi Nissan Toyota Trump

Mitsubishi Outlander rumored to get Nissan engine, Rogue Sport to get PHEV

A report in the Japanese business daily Nikkei, picked up by Automotive News, said Mitsubishi anticipates using a Nissan engine in the next-generation Outlander headed our way later this year. If the report comes true, the engine swap would be a first for the Renault-Nissan-Mitsubishi alliance partners outside of Japanese kei cars. Mitsubishi engineers will have an easier time slotting in a Nissan engine as the next-gen Outlander gives up its GS platform — an architecture Mitsubishi co-developed with Daimler Chrysler almost 20 years ago — to move to a modified version of the CMF platform that supports the Nissan Rogue and Qashqai, our Rogue Sport.    Last December, Auto Express spoke to Ponz Pandikuthira, NissanÂ’s European vice president of product planning. The exec said Nissan had two hybrid powertrains under consideration for the next-generation Qashqai, the first being Nissan's serial hybrid ePower system that's fared well in Japan where overall speeds are low, but that might not be suited to Europe's higher average speeds. As for a PHEV, Pandikuthira said, "WeÂ’re not pursuing a big plug-in hybrid strategy. On some car lines weÂ’ll try it out, but the business case for plug-in hybrids is not very good." Completing the round-turn, Nikkei said Mitsubishi would supply its PHEV for the compact Nissan, making the Qashqai the car line that gets the tryout. If that happens, and assuming Nissan brings it here, the Rogue Sport would be Nissan's first PHEV in the U.S. Nissan has tended to delay updating the Rogue Sport to Qashqai spec, so depending on when a PHEV version arrives, it could be the only hybrid in Nissan's U.S. fleet since the Rogue Hybrid retired for the 2020 model year.  The platform and engine exchange would have been planned before Nissan's troubles over the past 18 months, but they represent the alliance's growing effort for greater synergy and lower costs. One supposed tactic going forward comes from the Volkswagen Group playbook, identifying a brand's expertise and putting the brand in charge of developing that expertise for the alliance, the same way the Volkswagen brand develops low-cost platforms and Audi runs R&D for the group. We'll know more about plans afoot at the Franco-Japanese trio when the alliance unveils its new midterm business plan perhaps as soon as this month. Related Video:      

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.