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New, never-sold 2006 Mitsubishi Evo draws $100K bid on eBay

Today, in the "OK, guess it must be worth that to somebody" department, we note that a California car dealer has an eBay listing for a 2006 Mitsubishi Lancer Evolution, still brand new and never titled, with nine miles on the odometer. Just another day on eBay, right, and just another car that didn't sell, was hoarded, or somehow forgotten in a barn? Not exactly. The top bid as of Wednesday morning was $100,100. The Evo was a popular car (for a Mitsubishi) in its day, in a cult-of-personality way. And though its run ended with the 2015 model year, a quick inventory search shows there are still around 30 of them sitting brand-new on dealer lots, including the #0001-of-1,600 Lancer Evolution Final Edition, a $70,000 MSRP limited-edition car in Rally Red that a Brooklyn dealer is trying to move for $87,888. Most of the remainders are listed in the $30,000s, however. The 2006 eBay car is listed by South Coast Mitsubishi in Orange County, a dealer who by one Redditer's account laid up a bunch of Evos like bottles of fine wine and sold them off at higher prices. If so, is this the last one in the cellar? And why did the dealership set a car aside in 2006, when they were plentiful and long before the model's demise? For whatever reason, this 2006 car has time-traveled to 2017, with seats still wrapped in plastic and an engine bay you could perform surgery in. It's an Evo IX MR in Graphite Gray with black trim. Base MSRP was a bit more than $35K. It's optioned with the MR package that includes some aluminum and carbon-fiber bits and boost-gauge kit, the Zero Lift aero kit, and it has a six-speed manual. Bottom line on the sticker was $37,094. Specs for that year: The Evo had a 2.0-liter, 16-value inline four making 286 horsepower with 289 pound-feet of torque. The car's curb weight was 3,300 pounds, and its 0-to-60 time was a highly impressive 4.4 seconds. Yet, for $100K or a little more or a lot less, think of all the amazing 2017 new cars, equipped with the latest technology, that would dominate it - Tesla Model S, Lexus LC 500, BMW M2, Mercedes C63 AMG, Alfa Giulia Quadrifoglio, Camaro ZL1, Porsche 911 Carrera S, Dodge Demon, Dodge Hellcat, Corvette ZL1. Even a Mustang GT350 could edge it out, and if you drove a hard bargain you might be able to afford two. So, can a Mitsubishi triple its value by sitting around for a decade undriven? Is this in any way a collectible, to keep undriven as an investment?

Renault-Nissan-Mitsubishi pool $200 million to invest in tech startups

PARIS — The Renault-Nissan-Mitsubishi alliance is setting up a $200 million mobility tech fund, three sources said, in the latest move by major carmakers to adapt to rapid industry change by investing in startups through their own venture capital arms. The fund, due to be unveiled by Chief Executive Carlos Ghosn at the CES tech industry show in Las Vegas next Tuesday, will be 40 percent financed by Renault, 40 percent by Nissan and 20 percent by Mitsubishi. "It will allow us to move faster on acquisitions ahead of our competition," one of the alliance sources told Reuters. Frederique Le Greves, a spokeswoman for the Renault-Nissan-Mitsubishi alliance, declined to comment. The traditional auto industry model based on individual ownership is threatened by pay-per-use services such as Uber, as well as ride- and car-sharing platforms, a challenge heightened by parallel shifts towards electrified and self-driving cars. Wary carmakers are struggling to embrace changes and technologies that some of their executives are only beginning to grasp. To accelerate the process, many are investing directly in the new services — and gaining access to intellectual property — via their own corporate venture capital (CVC) funds. BMW has purchased stakes in a plethora of ride-sharing, smart-charging and autonomous vehicle software firms through its 500 million euro ($600 million) iVentures fund, the biggest such in-house facility belonging to a carmaker. Among others that have been increasingly active are General Motors' GM Ventures, with $240 million, and Peugeot-maker PSA Group's 100 million-euro investment arm. CVC funds, a familiar feature of innovative sectors such as tech and pharmaceuticals, have become more commonplace among carmakers since the 2008-9 financial crisis. They let companies skip some of the formalities otherwise required for new investments, and pounce more swiftly on promising startups. The Renault-Nissan-Mitsubishi venture will also obviate the current need to thrash out the ownership split for each new alliance acquisition. It represents a further step in the integration of the carmakers as they pursue 10 billion euros in annual synergies by 2022. France's Renault holds a 43.4 percent stake in Nissan, which in turn controls Mitsubishi. Ghosn heads Renault and chairs all three.

Mitsubishi ASX is French for Outlander Sport

Mitsubishi has revealed the Euro-version of the same Outlander Sport model that debuted with updates earlier this year at the New York Auto Show. No, the French do not call it the Royale Sport (with cheese), but rather the ASX.
The crossover has received a range of aesthetic and engineering tweaks, including revised interior fabrics. Designers have also abandoned the old rotary knob switch for the vehicle's all-wheel-control system in favor of a pushbutton interface, though the largest change to the recipe comes in the form of a reworked multi-link rear suspension. Powertrain options remain unchanged, however, with a total of three engine mills on deck, including a 1.6-liter gasoline engine with 115 horsepower mated to a five-speed manual transmission in two-wheel drive configuration.
Those hunting up a little more traction can step up to a 1.8-liter diesel with 147 horsepower and 221 pound-feet of torque paired with a six-speed manual and the buyer's choice of either a two-wheel-drive or four-wheel-drive system. A low-CO2 1.8 diesel is also available with 114 horsepower. You can check out the full press release below for more information.