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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.

Consumer Reports: Ford Fusion fun but flawed; Mitsubishi i-MiEV slow, chintzy [w/videos]

Waiting for a Ford compliment from Consumer Reports these days is like waiting for a low-cost new product from Apple. So we weren't really expecting a glowing review of the 2013 Ford Fusion when CR got its hands on the car. The institute's crew bought three different versions of the Fusion (Hybrid, 1.6-liter EcoBoost and a Titanium with the 2.0-liter EcoBoost) to put through its barrage of tests, and while we aren't too surprised by some of the findings, they're still interesting nonetheless.
CR praises the Fusion for its "eye-catching" design and says that the sportier Titanium trim level is the best-handling midsize sedan they've ever tested, but that's about where the good news ends for Ford. The Fusion Hybrid also posted the best-ever fuel economy CR has recorded in a midsize sedan, but the only problem is that their number was 39 miles per gallon combined - far less than Ford's 47 mpg rating for city, highway and combined. As expected, CR also dinged the Fusion for its MyFord Touch, but some of the other gripes about the car include a cramped cabin and poor fit and finish.
Other Ford products tested this time around include the Focus Electric and C-Max Hybrid. Like the Fusion, CR's observed fuel economy of 37 mpg for the C-Max fell well short of Ford's advertised 47-mpg rating, and both cars were criticized for the use of MyFord Touch. CR notes that the Focus Electric's interior is also cramped, with the battery pack taking up a lot of cargo space.

Mitsubishi Mirage G4 Sedan in Montreal could mean US debut soon

The official word on the North American plans for the Mitsubishi Mirage G4 Sedan is that the Japanese company wants to ask Canadians what they think of the four-door, three-cylinder before deciding if the car will go on sale here. There are hints, though, that the plan is a bit more set in stone than Mitsubishi is letting on. Speaking with AutoGuide, Mitsubishi manager of product communications, Roger Yasukawa, said that, "We are considering making it into a North American car but are still working on the timing of the launch." If they're already figuring out timing, it sounds like this is a question of when, not if. The Mirage G4 is built in Thailand and is sold throughout Asia as the Attrage. It just made its North American debut at the 2014 Montreal Motor Show, a move that could preview a US debut as well, since that's how the Mirage hatchback was introduced. We were not all that impressed with the hatch, but sometimes you just want a highly efficient car for not a lot of money. The car does get 37 miles per gallon in the city and 44 mpg on the highway, all for $12,995, after all. We'll see what the news is when the New York Auto Show starts up in April. Mitsubishi Reveals Mirage G4 Sedan Consumer Feedback to Influence Launch Plans Montreal, Quebec (Jan. 16, 2014) – Mitsubishi Motor Sales of Canada (MMSCAN) will ask auto show visitors here and across Canada to offer opinions on the look, feel, cost and features of a new subcompact sedan before it gets the green-light for sale in Canada. The Mirage G4, Mitsubishi's Thailand-built four-door, three-cylinder sedan, will make its North American debut today at the 2014 Salon International de l'auto de Montreal. But company president and CEO, Kenichiro "Kenny" Yamamoto said its future availability in Canada will be based, in part, on consumer opinion. "Our plan is to showcase the Mirage G4 and gauge what Canadians think of it and what they expect from subcompact sedans in general," he said. "A solid business case for Mirage was confirmed by the successful 2013 launch of the Mirage hatchback model; with G4, we're indicating our intention to grow the Mirage line up in Canada." When it was launched last September, the 2014 Mirage hatchback became MMSCAN's first subcompact car. Since then, Mitsubishi dealerships have reported Mirage's top fuel economy, low entry price and leading warranty are resonating well with customers.