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Mitsubishi scores record global operating profits

In the minds of many auto enthusiasts, Mitsubishi has become an afterthought. It has transformed from a company known for its turbocharged, all-wheel-drive rally machines into an automaker with a very boring lineup. Maybe we are being unfair, though. While the company doesn't have much of a performance presence anymore, the Japanese brand is doing quite well financially.
According to Reuters, Mitsubishi Motors had an operating profit of 123.4 billion yen ($1.2 billion) worldwide for the fiscal year that ended in March. That's twice as much as last year and a new all-time record for the Japanese automaker. It's even paying dividends to investors for the first time in 16 years, and its expected profit of 135 billion yen ($1.3 billion) in the new fiscal year matches a goal it had set for itself to achieve two years from now.
The automaker currently focuses much of its efforts on Southeast Asia, which accounts for about a quarter of its sales. It will put even greater attention there in the coming years with more local production, according to Reuters.

Mitsubishi Outlander PHEV US launch delayed over battery shortage

Mitsubishi resumed full-scale battery production in August after a five-month shutdown due to a safety investigation. Supplier Lithium Energy Japan has been delivering 4,000 battery packs each month since September, but that's apparently still not enough to fill the overseas inventory pipeline for the Outlander PHEV and i subcompact EV while launching the Outlander PHEV here in the US. So instead of the previous tentative launch date of Fall 2014, the plug-in hybrid's Stateside on-sale date has been pushed back until 2015.
That's according to Automotive News, which also notes that Mitsubishi has sold 11,300 plug-in Outlanders this year, though that number reflects the production stoppage over the battery issues. As of April, battery supplier LEJ will be able to supply 5,000 packs per month just for the Outlander, but company president Osamu Masuko has gone on record saying that production will have to rise above that in order to make the US launch.
Every Mitsubishi dealer (and hopefully a fair number of consumers) will be looking forward to a crossover that, for the moment, doesn't really have natural rivals. The Outlander PHEV can drive 32 miles on electricity alone, has a top speed of 75 miles per hour in EV mode and offers all-wheel drive with a towing capacity of over 3,000 pounds. The model should get an impressive MPGe rating from the EPA when it finally arrives and it figures to be a bellwether for the plug-in Outlander Sport and Pajero utility vehicles that are expected to arrive after it. Hopefully 2015 will be its year.

Autoblog Minute: VW finds CO2 'irregularities', Takata dropped by automakers, SEMA recap

Volkswagen's diesel emissions scandal gets a new wrinkle, US regulators hit Takata Corporation with a substantial fine, and we head to Las Vegas for a look at tuner paradise at the 2015 SEMA show. Autoblog senior editor Greg Migliore reports on this edition of Autoblog Minute Weekly Recap. Show full video transcript text [00:00:00] Volkswagen's diesel emissions scandal gets a new wrinkle. US regulators issue a significant fine to Takata Corporation. And we take a peek inside tuner paradise at the 2015 SEMA show. I'm senior editor Greg Migliore and this is your Autoblog Minute Weekly Recap. The VW diesel emissions scandal, first brought to light in September, gets a new wrinkle, as an internal investigation by the German automaker revealed [00:00:30] irregularities in CO2 emissions that could affect approximately 800,000 vehicles. VW estimates the issue could pose a 2-billion euro economic risk. VW claims that most of the vehicles affected have diesel engines, but industry analysts say a 1.4-liter gas engine is also affected. VW says that fuel consumption figures were set too low during the CO2 certification process. During all of this, sales of some diesel-powered Volkswagen, Audi, and Porsche models [00:01:00] have been halted. Takata Corporation is back in the news in connection with its deadly airbag scandal. Federal regulators fined Takata $70 million. If the parts supplier does not comply, the fine could balloon to $200 million. Takata was also dropped this week by its biggest customer, Honda. And now, Toyota and Mazda will be following Honda's lead in dropping Takata. We're also hearing that Mitsubishi and Subaru are considering a switch in air-bag inflator suppliers. SEMA 2015 [00:01:30] came and went. We saw offerings from Mopar, like the AWD Challenger concept. Honda unveiled a Ridgeline that it will race at the Baja 1000, which gives us a hint at what future production model could look like. The celebrity presence was also felt in Vegas as it always is. Kid Rock brought a Duramax Diesel Chevy Silverado, and Acura restored and presented Ludacris with his now famous 1993 Acura Legend. Those are the highlights from the week that was. Be sure to come back on Saturday for my full recap, [00:02:00] where I'll have some added insight into Hyundai's foray into the luxury sector. For Autoblog, I'm Greg Migliore. Autoblog Minute is a short-form video news series reporting on all things automotive.