2009 Mitsubishi Outlander, Clean Carfax, 3 Owners, Very Nice! on 2040-cars

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Mitsubishi expects a massive loss this year due to the coronavirus pandemic

TOKYO — Mitsubishi Motors reported Monday a $1.7 billion (176 billion yen) loss for April-June, and forecast more red ink for the fiscal year, as the coronavirus pandemic slammed auto demand around the world. The Japanese automaker had posted a profit of 9.3 billion yen for the fiscal first quarter the previous year. Quarterly sales shrank 57% to $2.2 billion (229.5 billion yen). The maker of the Outlander sport utility vehicle and I-MiEV electric car expects to chalk up a $3.4 billion (360 billion yen) loss for the fiscal year through March 2021, because of the fallout from the outbreak. This would be MitsubishiÂ’s biggest loss in at least 18 years, according to company financial records dating back to 2002. “To pave the way to recovery, the top priority of all executives is to share a sense of crisis with employees to execute cost reductions,” Chief Executive Takeo Kato told reporters. The shaky results come as Mitsubishi MotorsÂ’ alliance partners Nissan and Renault of France work to recover from the downfall of their former chairman, Carlos Ghosn. Ghosn was out on bail, awaiting trial on various financial misconduct allegations in Tokyo, when he fled late last year to Lebanon. He has said he is innocent of the allegations of under-reporting future compensation and breach of trust. Mitsubishi Motors has denounced Ghosn. Mitsubishi officials, in a news conference relayed in a call to reporters, promised a turnaround, pursuing growth in Southeast Asian markets, where its profitability is relatively strong, and building on its strength in four-wheel drive and “off road performance.” They said they expect the companyÂ’s results to recover next fiscal year, once COVID-19 is brought under control. Product development will leverage “synergies” with alliance partners, and labor costs will be cut through pay cuts, hiring freezes and voluntary retirements, the automaker said. Tokyo-based Mitsubishi also said itÂ’s working on innovative technology, such as improved diesel engines, electric vehicles and autonomous driving. Its electric vehicles are a strength as environmental standards continue to toughen, especially in major markets like China, it said. But it warned the outbreakÂ’s impact on auto demand was worse than what the auto market suffered during the 2008 financial crisis and so a recovery will take time.

Carlos Ghosn freed from jail after four months

TOKYO — Wearing a mask, cap and what looked like a construction worker's outfit, the former chairman of Nissan Motor Co., Carlos Ghosn, left a Tokyo detention center Wednesday after posting 1 billion yen ($8.9 million) bail. Although his face was obscured as he left the facility, Ghosn's identity was apparent as he smiled after arriving at a building in downtown Tokyo, having removed his jacket, mask and hat. There was a scramble by media to follow Ghosn after he boarded a small Suzuki van, topped with a ladder, and traveled from the Tokyo Detention Center toward downtown. Motorcycles trailed the van in formation as it passed through city streets to one of the defense lawyer's offices. Ghosn later left in another car, which was mobbed by media. Ghosn, the former head of the Renault-Nissan-Mitsubishi Motors alliance was arrested on Nov. 19. He is charged with falsifying financial reports and with breach of trust. The Tokyo District Court confirmed the 1 billion yen ($8.9 million) bail was posted earlier in the day, after a judge rejected an appeal from prosecutors requesting his continued detention. That cleared the way for Ghosn to leave the facility after spending nearly four months since his arrest. Before his release, Ghosn, who turns 65 on Saturday, issued a statement reasserting his innocence. "I am innocent and totally committed to vigorously defending myself in a fair trial against these meritless and unsubstantiated accusations," he said. A date for his trial has not yet been set. Suspects in Japan often are detained for months, especially those who insist on their innocence, like Ghosn. Some legal experts, including Junichiro Hironaka, one of his lawyers, have criticized the system as "hostage justice," saying the long detentions tend to encourage false confessions. Ghosn's lawyer in France, Jean-Yves Le Borgne, said the lawyers in Japan will be leading the defense but he was in touch with them. "He is catching his breath and settling in," Le Borgne said of Ghosn. French Finance Minister Bruno Le Maire said a presumption of innocence for Ghosn was crucial, while noting the importance to France of the alliance between Nissan and French automaker Renault SA. "It is a good thing that Carlos Ghosn can defend himself freely and serenely, and his release will permit Carlos Ghosn to defend himself freely and serenely," he said. The French government owns about 15 percent of Renault SA, making it an influential voice in the future of the alliance.

Junkyard Gem: 2007 Mitsubishi Galant Ralliart

We began getting Mitsubishi Galants here way back in the 1971 model year, when the Colt Galant showed up bearing Dodge Colt badges. Mitsubishi didn't start selling cars with its own badging in North America until the 1983 model year, and the first Mitsubishi-badged Galants showed up on our shores as 1985 models. When the ninth and final generation of Galant appeared for 2004, it was a generic-looking Camry rival, enlarged and priced attractively but otherwise not very interesting. Then, for 2007, a sporty Ralliart version showed up. Here's one of those rare cars, found in a snowy Colorado self-service yard recently. Ralliart is the racing and performance division of Mitsubishi Motors, and I've managed to find a few Lancer Ralliarts during my junkyard travels. I'd forgotten the existence of the Galant Ralliart, I must admit, so at first glance I took this car to be an ordinary Galant with Lancer Ralliart badges pasted on. Unlike the Suzuki Works Techno badges found on Aerios and Renos of the era, these Ralliart emblems really did indicate a quicker-than-the-base-model car. The '07 Galant Ralliart got a 258-horsepower V6 and a stiffer suspension, plus a few styling touches. It certainly would have been more fun than a new Camry, though the Mazdaspeed6 was quicker. Even the soporific Camry could still be bought with a manual transmission in 2007, but not the Galant. All the US-market 2004-2012 Galants (which were built in Illinois) came with automatic transmissions. The Galant managed to hang on until 2012, by which time it had been largely forgotten by American car shoppers. That's too bad, because the gadget-packed Galant Sigma four-door hardtops of the late 1980s and screaming Galant VR-4s of a bit later were interesting machines. I still haven't found a junked VR-4, though I have spotted a discarded Galant GS-X. This one lived fast and died young-ish. Perhaps someone will grab that 6G75 engine to swap into a Chrysler K-Car. We can hope. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Hop in. It's go time! This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Taiwanese car shoppers could buy this car as the Grunder. The real gone cats preferred the Grunder Police Interceptor, of course.