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Mitsubishi Concept G4 leaves us feeling blue

To say we were unimpressed by the 2014 Mitsubishi Mirage that debuted in New York earlier this year would be one heck of an understatement. So pardon us for not oohing and aahing over the Concept G4 that we're seeing for the first time here in Shanghai. It is, basically, a Mirage sedan. Try to contain your excitement.
Mitsubishi states that it intends to roll out the production version of the G4 Concept globally, powered by a 1.2-liter MIVEC engine mated to a continuously variable transmission that should at least be good for some substantial fuel economy gains. The Mirage, after all, is rated at 37/44 miles per gallon city/highway. We're also told that the car will be very lightweight, and that this should aid in making this thing not drive like a total dud.
We'll wait and see how the relatively sharp lines of the concept transfer to production form, but given that we already know what the Mirage looks like, we have a pretty good feeling that we'll be just as underwhelmed the second time around. Have a look below for the press blast.

Mitsubishi pondering $2B share sale?

Mitsubishi makes the brilliantly fast, wonderfully fun Lancer Evolution. Outside of that road-going rally car, the rest of the range is pretty poor - the new Outlander isn't bad, but the subcompact Mirage looks like might've been competitive five years ago, while the Galant and Lancer have suffered from serial neglect.
This hasn't just lead to rumors of Mitsu's death in America; the subsidiary of the massive Mitsubishi Group has been in trouble at home, too. It was bailed out by three other Mitsubishi Group companies - Mitsubishi UFJ Financial, Mitsubishi Heavy Industries and Mitsubishi Corporation - between 2004 and 2005, according to Bloomberg. Now, it's attempting to extricate itself from "emergency mode," as analyst Koichi Sugimoto told the financial site, adding that "they're still in the very early stages of recovery."
As part of the bailout, Mitsubishi issued its three saviors billions of dollars of preferred shares, which don't have voting rights. The problem is, Mitsubishi hasn't issued dividend payments since 1998, and these stocks aren't exactly competing with Apple or Google, in terms of value. In other words, they're mostly worthless. With a public offering, Mitsubishi is expecting to raise 200 billion yen, or about $2 billion, in order to reduce the number of preferred shares. If all goes according to plan, it will wipe out preferred shares by March of 2014, or the end of fiscal year 2013.

2021 Mitsubishi Mirage and Mirage G4 updated with fresh faces, more tech

Mitsubishi previously teased an update for the Mirage and Mirage G4 for the 2021 model year, and now the new car is here. It amounts to a light refresh, with some minor appearance changes, new tech and a single special edition model. The same 1.2-liter three-cylinder is still under the hood, cranking out 78 horsepower and 74 pound-feet of torque. Brutally slow, but when paired with the CVT, it’s capable of 36 mpg city, 43 mpg highway and 39 mpg combined. The five-speed manual transmission is still available, but only on the base ES trim. On the design front, the Mirage (hatchback) and Mirage G4 (sedan) get a new grille and front bumper that are meant to be sportier than before. ItÂ’s highly reminiscent of the brandÂ’s crossovers with its upright, shield-like look, and that was intentional, Mitsubishi says. A new rear bumper and lower valance add width to the rear to give it the appearance of being larger than it is. New LED taillights are used on all Mirages, and redesigned LED headlights with LED running lights are available on the top trim. This design treatment does inject some fresh life into the two Mirages, but itÂ’s nowhere close to the full redesign that the Mirage is due for, having been in the same generation since the 2014 model year in the U.S. The interior gains new (supposedly improved) front armrests, more soft-touch cloth in frequently touched areas, and a “carbon fiber effect” on the window switches. On the tech front, Mitsubishi makes the seven-inch infotainment system with Apple CarPlay and Android Auto standard equipment. Also standard is forward collision mitigation with pedestrian detection. The top trim level gives you access to lane departure warning and auto high beams as optional equipment. That amounts to more safety features than before, but itÂ’s still a paltry selection compared to most new cars today. As for the special edition Mirage, Mitsubishi calls it the “Carbonite Edition.” Star Wars fans need not apply, though, as there is nothing about it that resembles true carbonite. Instead, it adds “a revised front grille and air dam, side air dam, B-pillar decal and rear air dam with carbon-pattern surfaces and contrasting red accents.” ItÂ’s pairable with six different colors and slots in below the top SE trim but above the mid-grade LE in price. The photos depict the two new colors available for 2021: White Diamond and Sand Yellow. The new going rate for a base Mirage is $15,390, which is $400 more than it was for 2020.