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Mitsubishi slashes annual profit forecast on slowing car sales

TOKYO — Mitsubishi Motors on Wednesday cut its full-year profit outlook by 67% as it expects sluggish demand in North America and China will continue, while a strong yen and research and development costs will also hurt the automaker's bottom line. Japan's sixth-largest automaker now expects operating profit to come in at 30.0 billion yen in the year to March, down from a previous forecast for 90.0 billion yen. The new outlook would be Mitsubishi's lowest profit since the year ended March 2017. The downgrade comes after Mitsubishi, in which Nissan holds a controlling stake, reported a 78% plunge in operating profit during the July-September quarter to 6.3 billion yen, lower than a mean forecast for 16.26 billion yen from analysts polled by Refinitiv. It joins a growing number of Japanese automakers which are bracing for lower profitability. Earlier on Wednesday, Subaru lowered its annual profit forecast due to a stronger yen and a cut in domestic output due to a major typhoon last month. Mazda and Suzuki have also cut their respective outlooks within the past month due to slowing demand for their cars. Earnings/Financials Mitsubishi

Mitsubishi showing off 473-hp Lancer Evo X Concept Final at Tokyo Auto Salon

We know from the head of Mitsubishi USA that the special edition Lancer Evo X coming next June will be a five-speed GSR model with more horsepower, a tweaked suspension and some additional fancy "bits and pieces." We didn't expect to be this, the Mitsubishi Lancer Evolution X Final Concept with an ECU tune and new HKS turbo making its 2.0-liter engine good for 473 horsepower. That's 183 more ponies than the stock model. Based on a five-speed GSR, on top of that power boost it gets larger intakes and intercoolers, an upgraded cooling system and exhaust, an adjustable suspension from HKS and 19-inch Rays forged wheels. The finish is a mix of matte and gloss black, and chrome trim. Actually, we still don't expect the special edition we'll get to mimic the Evo X Final Concept; rather, we think this black beauty is a full-fat showcase for the Tokyo Auto Salon, where the Evo X Final Concept will be shown. It's a tantalizing could-have-been, and now that we've seen what Mitsu can do with the Lancer Evo when it cares just a little, we hope our that end-of-series special isn't too disappointing by comparison.

2022 Mitsubishi Outlander gets IIHS top rating with improved lights

The current sticking point for the Insurance Institute for Highway Safety's (IIHS) highest honors, the Top Safety Pick+, is headlights. The 2022 Mitsubishi Outlander, despite having strong results in almost every category, missed out on any Top Safety Pick rating because of lights rated "Poor" on all models. But Mitsubishi has now fixed them, getting the crossover the coveted award. The rating applies to Outlanders built after June 2021. The LED reflector headlights now have the top "Good" rating on all trim levels because of reduced glare for oncoming drivers. There's also some additional good news for existing owners of Outlanders. They can go to their Mitsubishi dealer, where the existing headlights will have the aim adjusted to reduce glare. The Outlander already had excellent results in crash testing and crash prevention. Every crash test yielded a "Good" rating, and in both vehicle-to-vehicle and vehicle-to-pedestrian crash prevention it got the top "Superior" rating. Even the child seat LATCH anchor access is rated "Good." The Outlander joins the ranks of a number of other small crossovers with the Top Safety Pick+ award, including its platform-mate the Nissan Rogue. Other winners include the Ford Bronco Sport, Hyundai Tucson, Mazda CX-3, Mazda CX-30, Mazda CX-5, Subaru Forester and Volvo XC40. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.