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Mitsubishi Motors posts surprise loss as car sales slide

TOKYO — Mitsubishi Motors on Friday posted a surprise operating loss in the third quarter, its worst quarterly performance in more than three years, hurt by falling sales in China, Japan and Southeast Asia, as well as a stronger yen. The carmaker posted an operating loss of 6.6 billion yen ($60.2 million) for the October-December quarter, widely missing an average forecast for a profit of 11.6 billion yen, based on analyst estimates compiled by Refinitiv. It was the firm's biggest loss since the July-September 2016 quarter, when a mileage cheating scandal sapped profits. However, Mitsubishi stuck to an earlier forecast for a 73% drop in full-year operating profit to 30 billion yen in the fiscal year ending in March. The automaker's net loss for the quarter just ended came in at 14.4 billion yen. The fall in quarterly sales was worst in China and at home, while sales also slipped in ASEAN countries, traditionally a stronghold, leading to a 16% fall in global vehicle sales to 320,000 units. The automaker also said it would keep some of its offices in China closed through Feb. 9, as a new coronavirus spreads throughout the country and beyond. The automaking alliance of Mitsubishi, Renault and Nissan on Thursday said they had "no other option" but to drastically improve their joint operations to remain competitive in the fast-changing global auto industry. Related Video:           (Reporting by Naomi Tajitsu; editing by Richard Pullin) Earnings/Financials Mitsubishi

Junkyard Gem: 2012 Mitsubishi Eclipse Spyder

When Chrysler and Mitsubishi partnered to establish the Diamond-Star Motors plant in Illinois, the first cars built at that facility were 1990 Mitsubishi Eclipses along with their Eagle Talon and Plymouth Laser twins. The Eclipse went through four generations, with 2012 as the final model year. Today's Junkyard Gem is one of the very last Eclipses, found in a Denver car graveyard recently. This generation of Eclipse was built starting with the 2006 model year, and it was based on a platform shared with the Galant and Endeavor. It was substantially larger than the early Eclipses, scaling in at nearly 3,500 pounds. The Spyder convertible version of the fourth-gen Eclipse debuted in the United States as a 2007 model. Sales were never strong and became downright miserable by the end, with fewer than a thousand 2012 Eclipses (both coupes and convertibles) leaving showrooms. This car is a base-grade GS with automatic transmission, and its VIN indicates that it was built for fleet sale. This would have been a fun rental car, at least compared to the Dodge Nitros and Kia Rios that stocked rental fleets in the early 2010s. The engine is a 2.4-liter SOHC straight-four rated at 162 horsepower and 162 pound-feet. The MSRP was $27,999, or about $38,581 in 2024 dollars. 2012 was also the final year for the Galant in the United States, though that was the model year in which the i-MiEV went on sale here. For the 2018 model year, Mitsubishi revived the Eclipse name — sort of — for the Outlander-derived Eclipse Cross compact SUV, which is still being built to this day. Rare? Very. Valuable? No. You could get the Eclipse Spyder with a 650-watt sound system. Driven to thrill.

James May was hospitalized after Mitsubishi Lancer Evolution crash

British auto journalist and TV host James May was reportedly whisked to the hospital after a crash during filming of The Grand Tour. The presenter was said to have been driving a yellow Mitsubishi Lancer Evolution VIII at 75 mph when he crashed into a tunnel wall.  Fortunately, The Sun reports that May, 59, broke a rib during the crash and required x-rays and a brain scan before being released from the hospital in mostly good health. This was not always the case with the former BBC Top Gear hosts. Famously, Richard Hammond received severe injuries from a 2006 crash at 280 mph in a drag racer. Hammond was also involved in a fiery crash of a Rimac One in 2017, but walked away mostly uninjured.  The details of the crash are a bit vague, but apparently it involved a challenge where May was supposed to drive the Evo down a long tunnel at a naval base in Norway. The Sun describes the stunt as taking place in the pitch black passage, with lights only illuminating as the car drove by. With mere seconds to react, May was unable to brake in time from 75 mph and slammed the Evo into a wall. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. The segment apparently involved May, Hammond, and Jeremy Clarkson taking AWD sedans to the Arctic Circle. Two other cars have been posted to social media by Clarkson himself and by fans, as discovered by Motor 1. Those cars are a Subaru Impreza WRX STI and an Audi RS4. After the Evo's destruction, the Subaru and Audi continued on without it. The cars were driving in Norway six months ago, but May's hospitalization is only now coming to light.  Thankfully Captain Slow, as May is nicknamed, is alright. As for the state of the increasingly endangered Evo, however, we'll just have to wait until the next season of Grand Tour airs.