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Mitsubishi denies plans for Toyota/Subaru rival sports coupe

Forgive us for being wistful, but there was a time when Mitsubishi coupes and sports cars were the downright awesome. The 1990s brought us the all-wheel drive, turbocharged Eclipse GSX and the twin-turbocharged 3000GT VR-4 (seen here). The times, they were good.
Fast-forward to today, and the Lancer Evolution exists as Mitsubishi's sole, true performance offering. Mitsubishi killed off the Eclipse last year, by which time it had lost much the luster of its predecessors. With an affordable Japanese sports car fomenting underway thanks to Scion FR-S and Subaru BRZ, one may think that it's an ideal time for a brand like Mitsubishi to jump back into the performance coupe game. A rear-drive Mitsubishi sports car to take on the Toyobaru twins could be just what the brand needs to gain some mindshare among consumers.
Not so, says Osamu Masuko. The president and executive director of Mitsubishi told reporters at the Sydney Motor Show, "Our engineers are very prominent to investigate new technologies, but to use that technology they are not that good to bring the revenue to make that money." Read: the engineers want to do it, but the company does not find it to be financially responsible.

2022 Mitsubishi Eclipse Cross refresh gives the crossover an Aztek-ectomy

As expected from spy shots, the 2022 Mitsubishi Eclipse Cross has received a styling refresh, and it changes the somewhat controversial rear end. It also brings some tweaks to the infotainment, and for markets outside the U.S. a plug-in hybrid. The big exterior changes are at the back. The Aztek-style split rear window is gone for a conventional single one. The taillights no longer bridge across the middle of the hatch. They do still extend up the rear pillars. The shape of the hatch looks a little different, too, and it helps reduce the stubby look of the Eclipse Cross's tail. From the front and sides, the new Eclipse Cross doesn't seem particularly different. But looking closer, you may notice that the upper lamps are slimmed down and given a steeper angle. They also appear to simply be daytime running lights, while the now larger lower lamps take over actual illumination duty. The main grille is also thinner. On the inside, the main change is to the infotainment system. The screen has grown to 8 inches over the old 7-inch system, and now features a new graphic interface and physical volume and tuning knobs. Not only that, it ditches the touch pad in the center console, opting instead for touchscreen interactions exclusively. To aid this, the screen also sits closer to the front occupants. Mechanically, U.S.-spec Eclipse Cross models are unchanged. They continue to get the turbocharged 1.5-liter four-cylinder making 152 horsepower and 184 pound-feet of torque. It's paired with a CVT and front- or all-wheel-drive. For other markets, Mitsubishi will introduce a plug-in hybrid variant. Details for that will come later, but won't be especially relevant for the U.S., as the company said it has no plans to bring it here. Considering the availability of the Outlander PHEV in America, this seems like an odd decision, but perhaps Outlander PHEV sales haven't been strong enough to merit another PHEV model. The redesigned Eclipse Cross will go on sale in the first quarter of 2021. Pricing has not been announced, but expect it to stay close to the current car's base price of $24,190. Related Video:

Mitsubishi reports an 89% drop in annual profit

TOKYO — Mitsubishi will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend. The coronavirus crisis has exacerbated Mitsubishi's struggles in a year where Japan's sixth biggest carmaker was already battling falling sales in China and also southeast Asia, its largest market which accounts for one-quarter of sales. Mitsubishi also said on Tuesday it would focus on growth in ASEAN countries to survive the aftermath of the pandemic. "Before the virus we had been mulling which underperforming regions and vehicle segments to cut our exposure to," CEO Takao Kato told a results teleconference. "In the wake of the virus, we need to pick up the pace of making these changes. To stay competitive in a post-coronavirus market, we need to immediately shrink our area of focus to regions and segments in which we excel." Global automakers are struggling to cope with the crisis, which has pummeled car sales due to lockdowns in many countries. Many automakers have begun to restart vehicle factories, but anemic demand, supply chain disruptions and social distancing measures at factories are expected to limit output. Mitsubishi's operating profit came in at 12.8 billion yen ($119.21 million) for the year to end March, down from 111.8 billion yen a year ago, and its lowest since the year to end March 2017. Profits exceeded a consensus estimate of 9.4 billion yen profit drawn from 15 analysts polled by Refinitiv. The automaker did not give an earnings forecast for the current business year, and did not issue a year-end dividend, compared with 10 yen per share a year ago. The junior member of the automaking partnership between Nissan and France's Renault, sold 1.13 million vehicles globally in the year ended March, down 9%. Mitsubishi will focus on growth in southeast Asia as part of the alliance's plan for each company to expand in their regions of strength. Mitsubishi said it would give more details when it reports first-quarter results. The alliance is expected to announce a revamped strategy on May 27, when it will pledge to increase cooperation to improve joint operations to remain competitive. Related Video: