1986 Mitsubishi Pajero 2.3 Turbo Diesel Low Kilometer Very Clean 4x4 5speed Hilo 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 teases 2016 Outlander ahead of New York debut

Mitsubishi really disappointed lots of people at the 2015 Chicago Auto Show when it initially teased "The Return of a Legend." That over-hyped unveiling was really just the North American debut of the GC-PHEV, first shown at the 2013 Tokyo Motor Show. The Japanese automaker is getting a second chance to impress with its hook to "Come See the New Face of Mitsubishi Motors" at the New York Auto Show on April 2. Maybe the company can do a little bit better this time, even if the surprise is already spoiled. Mitsubishi announced that it would unveil the refreshed 2016 Outlander in the Big Apple a month ago in Chicago. It's almost certainly the vehicle on display on the brand's invitation, above. While the single shot shows off a design very reminiscent of the current model, earlier spy shots indicate changes are in store for both the front fascia and much of the rear end. A look in the vein of the Outlander PHEV Concept-S from the 2014 Paris Motor Show seems likely. The restyling is also rumored to be timed with the plug-in hybrid version's US debut. However, after that vehicle's multiple delays, it might be best to wait and see.

Junkyard Gem: 1990 Mitsubishi Montero

Americans had been buying Mitsubishi-made pickups (badged as Plymouth Arrows and Dodge Ram 50s) for the better part of a decade when the Americanized version of the Pajero SUV appeared in American Mitsubishi showrooms. Naturally, there was a Dodge-badged version as well (known as the Raider), but finally Americans could buy a bouncy, off-road-capable SUV with big Mitsubishi badges all over it. The first-generation (1985-1991) Monteros have become quite rare, but I found this high-mile example in a Denver yard a few weeks back. You won't often see a late-1980s/early-1990s Mitsubishi with more than 200,000 miles on the clock, but Monteros held their value longer than Mighty Maxes and Mirages. I couldn't find any meaningful rust on this one, but the interior looked pretty tired. Under the hood we find the ubiquitous 3.0-liter 6G72 V6 engine, which found its way into everything including Chrysler minivans, Mitsubishi Diamante luxury sedans and even 1990s Hyundai Sonatas. Mitsubishi got its money's worth out of this engine, which stayed in production from 1986 through 2011 (in China). Most of the early Raiders and Monteros I've found in junkyards had manual transmissions, but this one shows the direction American SUV buyers were headed in 1990: two pedals, no shifting. It still lacks the dozen cupholders of later US-market trucks, of course. The Montero name went on Pajeros sold in North and South America, while UK-market trucks got Shogun badging. This beefy grab bar for the front-seat passenger suggests the kind of rugged driving environments not much like the highway commutes now used by SUVs in North America. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Just the vehicle for contemplating the ocean... or racing. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Mitsubishi: Suddenly, the obvious choice.