2000 Mitsubishi Eclipse Gt 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.

Junkyard Gem: 2003 Mitsubishi Diamante LS

While Chrysler started selling Dodge- and Plymouth-badged Mitsubishis in the United States starting with the 1971 model year, Americans couldn't buy new cars with the Mitsubishi name until 1983. Thirty-five years later, Mitsubishi is down to just four models on these shores, all of which cater to the lower end of the market. However, from 1992 through 2004, Mitsubishi tackled the luxury market with its Diamante big sedan. Here's a very rare second-to-last-model-year Diamante, spotted in a Denver-area wrecking yard. I have documented plenty of Mitsubishis during my junkyard explorations, but these late Diamantes have been tough to find (though I have spotted a Diamante wagon). Sales of this car weren't great given that Mitsubishi's name didn't exactly resonate with luxury shoppers. Not when there was a Lexus ES around that did the same thing with a proper premium badge and brand. Second-generation Diamantes sold outside of Japan were built in Australia. Mitsubishi got its money's worth with the 6G7 series of V6 engines, starting with the 1986 Galant and continuing in trucks to the present day. Endless Chryslers of the 1980s, 1990s and 2000s also received 6G72 power. This car has the DOHC 3.5-liter 6G74 version, rated at 205 horsepower. The interior is pretty nice, in its turn-of-the-21st-century manner, and the fact that this car has an ignition key means that it's probably an insurance total or a dealership trade-in. The nose shows evidence of a fender-bender, and that's enough to doom a forgotten luxury car like this. Next stop: The Crusher. Related Video: Featured Gallery Junked 2003 Mitsubishi Diamante LS View 20 Photos Auto News Mitsubishi Automotive History Sedan

Chrysler recalling 67k trucks with manual transmissions

Earlier this month, Chrysler announced the recall of some 280,000 pickup trucks over concerns that their axles could seize up. Now the automaker has announced an entirely separate recall of another 66,819 trucks over the springs that could break in the clutch ignition interlock switch. The recall affects Dodge Ram 1500, 2500 and 3500 pickups, as well as the Dodge Dakota and Mitsubishi Raider. The issue is relevant only to those trucks fitted with manual transmissions, from the 2006 and 2007 model years and manufactured between July 1, 2005, and July 31, 2006. Since a broken spring could, according to statements issued by the National Highway Traffic Safety Administration and FCA US LLC (previously known as the Chrysler Group) prevent the vehicle from starting, or cause it to move unintentionally once the ignition kicks over, the automaker will begin notifying owners of the affected vehicles just before Valentine's Day to bring their trucks into their local dealers to have the clutch ignition interlock switch replaced. FCA emphasizes, however, that the unintended movement would only occur "in rare cases" and only "if recommended starting procedures are not followed." Only one such case is known to have occurred, but it did regrettably result in a fatality. Statement: Clutch Ignition Interlock Switch December 29, 2014 , Auburn Hills, Mich. - FCA US LLC is launching a voluntary global recall of an estimated 66,819 older-model pickup trucks equipped with manual transmissions. The Company will replace their clutch ignition interlock switches at no charge to customers. An investigation by FCA US engineers discovered switches in certain model-year 2006 and 2007 pickups may be equipped with spring wire that differs from wire used in previous switches. The alternate wire may break and, as a result, the vehicles may not start. In rare cases, a vehicle may – if recommended starting procedures are not followed – exhibit unintended movement when its ignition key is turned. The Company is aware of one fatality related to this campaign. It stemmed from the single known accident involving this population of vehicles. The recall covers certain Dodge Dakota, Dodge Ram 1500, 2500, 3500 and Mitsubishi Raider pickups. Switches with the alternate wire were not used in any vehicles produced before July of 2005, or after June of 2006. The Dakota and Raider are no longer in production.