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Drive like a prince: Join us for a walk through Monaco's car collection

Small, crowded, and a royal pain in the trunk lid to drive into during rush hour, Monaco sounds like an improbable location for a huge car museum. And yet, this tiny city-state has been closely linked to car culture for over a century. It hosts two major racing events every year, many of its residents would qualify for a frequent shopper card if Rolls-Royce issued one, and Prince Rainier III began assembling a collection of cars in the late 1950s. He opened his collection to the public in 1993 and the museum quickly turned into a popular tourist attraction. The collection continued to grow after his death in April 2005; it moved to a new facility located right on Hercules Port in July 2022. Monaco being Monaco, you'd expect to walk into a room full of the latest, shiniest, and most powerful supercars ever to shred a tire. That's not the case: while there is no shortage of high-horsepower machines, the first cars you see after paying ˆ10 (approximately $11) to get in are pre-war models. In that era, the template for the car as we know it in 2023 hadn't been created, so an eclectic assortment of expensive and dauntingly experimental machines roamed whatever roads were available to them. One is the Leyat Helica, which was built in France in 1921 with a 1.2-liter air-cooled flat-twin sourced from the world of aviation. Fittingly, the two-cylinder spun a massive, plane-like propeller. Government vehicles get a special spot in the museum. They range from a Cadillac Series 6700 with an amusing blend of period-correct French-market yellow headlights and massive fins to a 2011 Lexus LS 600h with a custom-made transparent roof panel that was built by Belgian coachbuilder Carat Duchatelet for Prince Albert II's wedding. Here's where it all gets a little weird: you've got a 1952 Austin FX3, a Ghia-bodied 1959 Fiat 500 Jolly, a 1960 BMW Isetta, and a 1971 Lotus Seven. That has to be someone's idea of a perfect four-car garage.  One of the most significant cars in the collection lurks in the far corner of the main hall, which is located a level below the entrance. At first glance, it's a kitted-out Renault 4CV with auxiliary lights, a racing number on the front end, and a period-correct registration number issued in the Bouches-du-Rhone department of France. It doesn't look all that different than the later, unmodified 4CV parked right next to it. Here's what's special about it: this is one of the small handful of Type 1063 models built by Renault for competition.

Mitsubishi ready to pull Evo's plug

We have all manner of unofficial metrics in the auto industry. No doubt you've heard some of them, like the butt dyno. Another popular measure is the smiles-per-dollar index - how entertaining is a car versus its price. Cars like the Mazda MX-5 Miata, Scion FR-S and Mini Cooper S, for example, score quite highly, while vehicles like the BMW M5 or Audi RS7 are great to drive, but score lower because of their much higher price tags. For a long time, the king of the smiles-per-dollar index was arguably the Mitsubishi Lancer Evolution X, which blended hair-raising thrills for the price of a well-equipped Ford Fusion Titanium.
Now, it looks like the Evo will need to hand over its title, as this generation of the rally-derived rocket is likely to be Mitsubishi's last - at least for a while. There's been no mention of just when production of the current car will end, so if you're in the market, we'd suggest trying to find a dealer with inventory ASAP. The news comes from the automaker's Japanese mothership, which says the brand will instead focus on utility vehicles and EVs. While there are no direct plans for a successor, an Evo XI as it were, the door remains open for a different kind of beast, according to Mitsubishi.
"Mitsubishi Motors does not have any plans to design a successor with the current concept, as a high-performance four-wheel drive gasoline-powered sedan," said Namie Koketsu, a spokesperson for Mitsubishi, according to Automotive News. "Mitsubishi Motors will explore the possibilities of high-performance models that incorporate electric vehicle technology."

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