1995 Mitsubishi 3000gt Base Coupe 2-door 3.0l on 2040-cars

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Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.

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.

Autoblog Podcast #357

Episode #357 of the Autoblog podcast is here, and this week, Dan Roth and Jeff Ross are joined by Jeff Glucker of Hooniverse.com. Topics include the SEMA Show, the Cadillac CTS being named the Motor Trend Car of the Year, Mitsubishi's near-term plans and the 2015 Subaru WRX. We start with what's in the garage and finish up with some of your questions, and for those of you who hung with us live on our UStream channel, thanks for taking the time. You can follow along after the jump with our Q&A. Thanks for listening!
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