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Despite missteps, Mitsubishi Outlander PHEV a hit in UK

Like a stiff breeze off the White Cliffs of Dover, UK sales of the Mitsubishi Outlander Plug-in Hybrid may have the wind at its back. That's because the Japanese automaker isn't charging any extra, relative to the diesel-powered Outlander. And UK's Duxford Auto Group says it's already feeling the positive effects. The auto dealership is conducting about a dozen test drives a day for potential (and curious) customers, Cambridge News says. More tellingly, Duxford Auto is rebooking another dozen or so test drives per weekend day because of pent-up interest. The company hasn't released UK sales figures, Mitsubishi spokesman Dan Irvin told AutoblogGreen, but Duxford Auto says sales will be stronger than expected, especially since the Outlander PHEV is exempt from UK congestion charges. Mitsubishi introduced the Outlander PHEV to the UK this spring. The bonus there was that, inclusive of a UK government grant, the car was priced at the equivalent of about $47,000, or about the same price as the base diesel-powered version. The model, which pairs a 2.0-liter gas engine with an electric motor, has an all-electric range of 32 miles. Mitsubishi ran into problems with the Outlander PHEV in spring 2013 after a battery melted at a Japan dealership, causing the company to halt production on the model. The company later discovered that some of the batteries were short-circuiting due to a flaw in the screening process. Once those issues were solved, Mitsubishi doubled its production rate last year to make up for lost time. Meanwhile, Automotive News reported last month that California regulators will delay sales of the model in that state to late next year or early 2016 because of battery issues. The state, easily the largest US plug-in vehicle market, wants Mitsubishi to include battery-degradation monitors for the car's lithium-ion batteries. Mitsubishi spokesman Alex Fedorak refuted the report that the Outlander PHEV may not be available in the US until 2016. "Launch plans for the US version of the Outlander PHEV remain unchanged with an expected debut of Fall 2015," Fedorak told AutoblogGreen.

Fiat introduces new Fullback pickup

Fiat has unveiled its first foray into the mid-size pickup truck market, the Fullback, at the Dubai Motor Show. It's not an entirely new product, confirming earlier reports. It's closely related to the Triton pickup (also known as the L200) that Mitsubishi builds in Thailand for markets in Europe, Asia, and Africa. Moreover, it's not likely ever to make it to North American showrooms. Riding on a 118-inch wheelbase, it measures 208 inches long, 71 inches wide and 70 inches tall. Those are identical measurements to the Mitsu, and give it roughly similar dimensions to the Chevy Colorado/GMC Canyon we get here. The Fullback can carry up to 2,300 pounds, and is powered by a 2.4-liter turbo diesel engine available in either 150- or 180-horsepower states of tune, and mated to a six-speed manual or five-speed automatic transmission. Fiat Professional will roll out the Fullback in markets across Europe, the Middle East, and Africa, where it will compete against the likes of the Toyota Hilux, Ford Ranger, and Volkswagen Amarok. FIAT PROFESSIONAL DEBUTS NEW FULLBACK PICK-UP TRUCK AT THE DUBAI INTERNATIONAL MOTOR SHOW - New FIAT Professional pick-up truck to be named Fullback – a name derived from the cornerstone position in rugby and American football - Available in the UK in autumn 2016, the FIAT Fullback will combine a practical double-cab body style with a spacious load area and competitive payload of 1,045kg - Powered by a 2.4-litre turbo-diesel engine, with 150hp or 180hp outputs, the FIAT Fullback will have four-wheel drive as standard, combined with a manual or automatic transmission - More details, including pricing and final specifications, will be announced closer to the launch of the FIAT Fullback in the UK FIAT Professional has unveiled the all-new FIAT Fullback pick-up truck at the 2015 Dubai International Motor Show. The new, medium-duty pick-up will join the award-winning FIAT Professional range in autumn 2016 and will be available only with a practical double cab body style configuration in the UK making it an ideal vehicle for both commercial and leisure time activities. Measuring up to 1,780mm in height, 1,815 mm in width and 5,285mm in length, with a wheelbase of 3,000mm, the new FIAT Fullback will offer a competitive payload of 1,045 kg and will be powered by a 2.4-litre, aluminium, turbo-diesel engine with a power output of either 150hp or 180hp.

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.