2005 Mitsubishi Lancer Evolution 8 650 Hp 62/66 Turbo Awd Built English Racing on 2040-cars

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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 Outlander PHEV van variant coming to Europe

Mitsubishi's Outlander Plug-in Hybrid SUV will be hitting our shores this fall. Across the Pond, however, it's heading into more no-nonsense territory. That's because the Japanese automaker is making a commercial van variant of the plug-in hybrid for the UK. Mitsubishi will start selling a model called the Outlander PHEV GX3h 4Work in the UK, Motoring Research says. Like the SUV, the model will pair a 2.0-liter gas engine with an electric motor and will have an all-electric range of 32 miles. The difference is that the back seats will be taken out and the glass will be blacked out. Hardcore, we say. The model will be priced at 36,905 British pounds (about $61,000), though buyers are eligible for a government grant worth 7,381 pounds ($12,200). Mitsubishi plans to start selling the Outlander PHEV stateside in Fall 2015. The company said earlier this summer that the US version will be substantially different from the current version, with updates for everything from exterior and interior styling to powertrain efficiency improvements. The model had some battery-melting issues last year in Japan, though Mitsubishi ramped up its production once those problems were solved. Mitsubishi representatives didn't immediately respond to a request for comment about the commercial-van variant from AutoblogGreen, but we expect to be hearing more about it soon.

2016 Mitsubishi Outlander First Drive

"There is a golden hour between life and death. If you are critically injured you have less than 60 minutes to survive. You might not die right then; it may be three days or two weeks later – but something has happened in your body that is irreparable." That quote is from Dr. R. Adams Cowley, widely viewed as the father of modern-day trauma medicine. It's an apt description of the straits Mitsubishi finds itself in here in the United States. The company's golden hour has been a long time coming, but with the death of the Lancer Evolution, and a stable that consists of the ancient Lancer, the lamentable Outlander Sport and the abhorrent Mirage, the 2016 Outlander marks the start of this vital 60 minutes. It was with this in mind that we shipped out to San Francisco to test the company's latest compact CUV. Technically a facelifted version of the crossover that debuted at the 2012 Los Angeles Auto Show, Mitsubishi made over 100 changes as part of this refresh. The exterior changes strip away some of the Outlander's boring, conservative elements in favor of a new design language called "Dynamic Shield." Most of the work is from the A-pillars forward, where an assertive chrome-lined grille, restyled headlights, and a new hood are found. Larger LED taillights sit in back, along with chrome elements. As is the fashion nowadays, LED running lights have been added as standard, while the GT gets LED low beams and halogen high beams, as well. The cabin receives similarly small upgrades, updated materials, and a new navigation system. Plastic is the dominant surface, although it's no better or worse than the stuff usually encountered in this segment. Mitsubishi added piano-black accents on the bottom half of the leather-wrapped steering wheel and around the touchscreen navigation system, to class up the cabin. The cloth seats on the entry level models have also been updated, although the leather on the mid-range SEL and top-of-the-line GT we drove is unimpressive. The same can be said of the seats themselves, which are wide and unsupportive, particularly if you suffer from lower back issues, as your author does. You'll get eight-way powered adjustments on the SEL and GT, although lesser trims get by with manually-operated, six-way adjustability. Neither of those setups include lumbar adjustments. The steering wheel tilts and telescopes, at least, regardless of trim level. A standard third-row of seats has long been one of the Outlander's strongest points.