2007 Mitsubishi Eclipse Spyder Gs Convertible on 2040-cars

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Mitsubishi recalls 130k Lancers, Outlanders over auxiliary glitches

The National Highway Traffic Safety Administration has has announced two separate recall campaigns for Mitsubishi vehicles, both of them related to problems with their auxiliary systems and covering a total of some 130,000 units. The recalls relate to Lancers (including Sportback and Evolution versions) as well as the Outlander and Outlander Sport, all of them from the 2009 through 2011 model years. The larger of the two recalls relates to the blower motor that may not to an adequate job of defrosting the windshield and therefor impede the driver's visibility. The recall covers 76,958 units, specifically the 2009-2011 Lancer (manufactured between March 16, 2009, and March 30, 2011), 2010-2011 Lancer Sportback (June 17, 2009, to December 1, 2010), 2010-2011 Lancer Evolution (July 14, 2009, to January 7, 2011), 2009-2011 Outlander (February 10, 2009, to June 22, 2011), and 2011 Outlander Sport (August 26, 2010, to November 19, 2010). The smaller recall still covers another 53,395 units due to a problem with the electronic control unit tasked with operating the headlights, taillights and windshield wipers. "Unstable voltage" in that dedicated ECU could cause those systems to function improperly – which, again, could impede the visibility and increase the risk of a crash. This recall covers the 2009-2010 Lancer (January 12, 2009, to July 6, 2010), 2010 Lancer Sportback (June 17, 2009, to June 8, 2010), 2010 Lancer Evolution (July 14, 2009, to August 4, 2010) and 2009-2010 Outlander (January 12, 2009, to August 27, 2010). In both cases the manufacturer is not aware of any accidents or injuries resulting from the problems. But all the same, in both cases, owners will be notified to bring their Mitsus into their local dealer to have the relevant component (blower motor or ECU) replaced. Since the affected models and model years overlap, we suspect some owners may have both components replaced on their vehicles at the same time, but we're reaching out to Mitsubishi Motors North America for clarification. If this array of recalled vehicles sounds familiar, you might be thinking of a similar campaign issued last October that covered some 166,000 Lancers and Outlanders from largely the same model years. That unrelated recall, however, related to the drive belt detaching from the engine.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Mitsubishi looks to crossovers and EVs for US success

Say what you will about Mitsubishi, but the Japanese automaker is slowly seeing a resurgence here in the United States. December 2015 marked the company's twenty-second consecutive month of year-over-year sales increases, and looking at last year as a whole, Mitsubishi's sales were up 23 percent over 2014. Ken Konieczka, Mitsubishi's vice president of sales operations, says that in order to stay successful, the company will bet big on crossovers and electric vehicles in the coming years. And that means a relatively aggressive product plan here in the US. First up, a brand-new CUV will launch in early 2018, previewed by the eX Concept that debuted at last year's Tokyo Motor Show (pictured). Konieczka says Mitsubishi is making room for this new crossover in its lineup – the Outlander will slowly get bigger, and the Outlander Sport will get smaller. The production version of the eX will slot between those two. Speaking of the Outlander siblings, both will be replaced in the next five years. A new, larger Outlander will arrive in 2019, and the smaller Outlander Sport will arrive in 2020. To fulfill the electric side of the business, Konieczka confirms the next Outlander Sport will sprout an EV variant, and the Outlander plug-in hybrid will launch in the United States later in 2016, as a 2017 model. As for the rest of the company's portfolio, Mitsubishi will offer the updated Mirage hatchback and new G4 sedan later this year. The future for the Lancer, however, looks grim. Konieczka says Mitsubishi still can't find an OEM partner to help create and produce a new Lancer, and our gut says the compact sedan will be phased out in the very near future. "We made a lot of mistakes," Konieczka admits, saying Mitsubishi was "spread too thin [and] had too many models" in the past. This new, more focused approach on EVs and crossovers certainly sounds promising, and will hopefully help Mitsubishi continue its slow growth here in the US market. Still, we won't know for sure until the new products actually reach showrooms. But for now, at least, things are steadily on the rise.