Find or Sell Used Cars, Trucks, and SUVs in USA

2000 Mitsubishi Mirage, No Reserve on 2040-cars

Year:2000 Mileage:179973 Color: of the car is white and is showing signs of wear and is faded
Location:

Anaheim, California, United States

Anaheim, California, United States
Advertising:

 PLEASE READ AD IN FULL PRIOR TO BIDDING!


ALL NEW EBAY BIDDERS, FIRST TIME BIDDERS TO OUR SITE, OR BIDDERS WITH "0" FEEDBACK MUST CONTACT OUR OFFICE WITH YOUR NAME AND PHONE NUMBER BEFORE BIDDING OR YOUR BID WILL BE CANCELED! PLEASE CALL (714) 991-6044.  (IF NO ANSWER, CONTACT SELLER THROUGH EBAY)

TODO POSTOR NUEVO EN EBAY, O PRIMERA VEZ APOSTANDO, O POSTOR CON "0" INFORMACION, TENDRA QUE COMUNICARSE CON NUESTRA OFICINA Y DAR SU NOMBRE Y TELEFONO ANTES DE APOSTAR. SINO LA CONCECUENCIA SERA QUE LA APUESTA SERA CANCELADA! (714) 991-6044.


Item Description

Up for auction is a 2000 Mitsubishi Mirage that was recently donated to a national charitable foundation and is being sold with NO RESERVE.

The vehicle is equipped with a 4cyl engine and automatic transmission.  The odometer shows 179,973 miles.  It’s fairly well equipped with most of the options.  The seats are gray and appear to be in decent condition, although a good detail will make a huge difference.  The exterior of the car is white and is showing signs of wear and is faded.  It has a few door dings and scratches.  The tires appear to HAVE ROUGHLY 25% road life left.  Please refer to the photos included in this auction for more description details.

This vehicle does NOT run or drive.

***The fuel pump needs to be replaced.***


Title and DMV

This vehicle comes with a clear application for duplicate Title and its Registration was valid through 8/14.   All taxes, fees, and penalties due to the DMV, are the responsibility of the buyer.


Disclaimer

This vehicle was donated!  Therefore we do not have ANY information regarding the history or condition of the vehicle other than what we can see.  We do not perform any physical or mechanical inspections on the vehicle.  No vehicles are test driven so we cannot vouch for any drivability nor condition of the motor or transmission unless it is evident when the vehicle is dropped off.  We can only describe what is evident.  There may be other problems with the vehicle which are not apparent, visible or known.  We are not responsible for inaccurate or incomplete descriptions of the vehicle.  We make every effort to photograph details, however, if something is missed or damage is not shown that is not our responsibility.  The buyer has every opportunity to inspect the vehicle PRIOR to bidding.  If you cannot inspect the vehicle prior to bidding then you are bidding at your own risk.  Every vehicle is sold in “as is” and “where is” condition.  Once the vehicle is paid for and leaves our lot there are NO REFUNDS and NO RECOURSE.  Buyers may schedule an appointment to view any vehicle by calling (714) 991-6044.


Payment Terms

·       Deposit must be received within 24 hours of the end of the auction.  Full payment is required within three (3) days of the end of the auction.

·       All auctions are subject to a doc fee as follows:

o   $75.00 for vehicle under $1,000

o   $100.00 for vehicles over $1,000 and $50.00 for every $1,000 thereafter

·       Vehicles not paid for in full within three (3) days of end of auction will be subject to a penalty of $50.00 plus $20.00 PER DAY in storage fees (storage fees are not negotiable and must be paid prior to release of vehicle).

·       Vehicles not paid for within one week of end of auction will result in buyer’s privileges revoked and vehicle to be relisted on ebay.


Payment Type

We accept cash in person, credit card (Visa and MC and Discovery only) and PayPal (up to $1,000.00) only.  Cashier’s checks may be used for payment but vehicle will not be released until cashier’s check clears (up to three business days).


NO Refund and NO Warranty Policy

All cars are sold in AS IS and WHERE IS condition with all faults – known and unknown, described or not described.  Should there be ANY mechanical issues discovered after the purchase of the vehicle there will be no recourse offered by the Seller.  The Buyer will be 100% responsible for any problems discovered after the vehicle leaves the lot.  Seller makes NO warranties as to the condition of any vehicle.  Descriptions and photos contained herein may not be accurate and buyer is 100% responsible for inspecting the vehicle prior to bidding.  NO REFUNDS will be given on any purchased vehicle under any circumstances.  ALL SALES ARE FINAL!


Pick Up Location and Contact Information

All winning bidders are responsible for picking up their vehicle(s) at our lot located at 928 E. Vermont Ave, Anaheim, CA 92805.  Call our offices at (714) 991-6044 if you have any questions or wish to schedule an appointment to view a car.


About our Ebay Auction

·       There is NO Buy It Now price so please do not ask.

·       We reserve the right to end any auction early for any reason.

·       We do not accept trades nor can you trade your vehicle for another vehicle we have listed on ebay.

·       We do not sell parts off any vehicle and vehicles will not be parted out.

·       DO NOT BID if you do not intend to complete the transaction.

·       CALL US if you have any questions PRIOR to bidding (714) 991-6044.

·       We reserve the right to block any bidder for any reason.

·       By placing a bid you acknowledge that you have read and understand and agree to the terms of this listing.

·       All vehicles are delivered at our location.  Buyers are responsible for picking vehicles up or arranging their own transportation.

·       All sales are FINAL!

PLEASE READ AD IN FULL PRIOR TO BIDDING!


ALL NEW EBAY BIDDERS, FIRST TIME BIDDERS TO OUR SITE, OR BIDDERS WITH "0" FEEDBACK MUST CONTACT OUR OFFICE WITH YOUR NAME AND PHONE NUMBER BEFORE BIDDING OR YOUR BID WILL BE CANCELED! PLEASE CALL (714) 991-6044.  (IF NO ANSWER, CONTACT SELLER THROUGH EBAY)

TODO POSTOR NUEVO EN EBAY, O PRIMERA VEZ APOSTANDO, O POSTOR CON "0" INFORMACION, TENDRA QUE COMUNICARSE CON NUESTRA OFICINA Y DAR SU NOMBRE Y TELEFONO ANTES DE APOSTAR. SINO LA CONCECUENCIA SERA QUE LA APUESTA SERA CANCELADA! (714) 991-6044.


Item Description

Up for auction is a 1998 Toyota Avalon that was recently donated to a national charitable foundation and is being sold with NO RESERVE.

The vehicle is equipped with a 6cyl engine and automatic transmission.  The odometer shows 293,717 miles.  It’s fairly well equipped with most of the options.  The seats are tan and appear to be in decent condition, although a good detail will make a huge difference.  The exterior of the car is green and is showing signs of wear and is faded.  It has a few door dings and scratches.  The tires appear to HAVE ROUGHLY 20% road life left.  Please refer to the photos included in this auction for more description details.

This vehicle RUNS but does NOT drive.

***This vehicle has a blown head gasket and needs replacing.***

***The valve cover gasket is leaking oil and needs replacing.***

***The driver’s door does Not open and the windshield is cracked and needs replacing.***


Title and DMV

This vehicle comes with a clear California Title and its Registration was valid through 11/12.   All taxes, fees, and penalties due to the DMV, are the responsibility of the buyer.


Disclaimer

This vehicle was donated!  Therefore we do not have ANY information regarding the history or condition of the vehicle other than what we can see.  We do not perform any physical or mechanical inspections on the vehicle.  No vehicles are test driven so we cannot vouch for any drivability nor condition of the motor or transmission unless it is evident when the vehicle is dropped off.  We can only describe what is evident.  There may be other problems with the vehicle which are not apparent, visible or known.  We are not responsible for inaccurate or incomplete descriptions of the vehicle.  We make every effort to photograph details, however, if something is missed or damage is not shown that is not our responsibility.  The buyer has every opportunity to inspect the vehicle PRIOR to bidding.  If you cannot inspect the vehicle prior to bidding then you are bidding at your own risk.  Every vehicle is sold in “as is” and “where is” condition.  Once the vehicle is paid for and leaves our lot there are NO REFUNDS and NO RECOURSE.  Buyers may schedule an appointment to view any vehicle by calling (714) 991-6044.


Payment Terms

·       Deposit must be received within 24 hours of the end of the auction.  Full payment is required within three (3) days of the end of the auction.

·       All auctions are subject to a doc fee as follows:

o   $75.00 for vehicle under $1,000

o   $100.00 for vehicles over $1,000 and $50.00 for every $1,000 thereafter

·       Vehicles not paid for in full within three (3) days of end of auction will be subject to a penalty of $50.00 plus $20.00 PER DAY in storage fees (storage fees are not negotiable and must be paid prior to release of vehicle).

·       Vehicles not paid for within one week of end of auction will result in buyer’s privileges revoked and vehicle to be relisted on ebay.


Payment Type

We accept cash in person, credit card (Visa and MC and Discovery only) and PayPal (up to $1,000.00) only.  Cashier’s checks may be used for payment but vehicle will not be released until cashier’s check clears (up to three business days).


NO Refund and NO Warranty Policy

All cars are sold in AS IS and WHERE IS condition with all faults – known and unknown, described or not described.  Should there be ANY mechanical issues discovered after the purchase of the vehicle there will be no recourse offered by the Seller.  The Buyer will be 100% responsible for any problems discovered after the vehicle leaves the lot.  Seller makes NO warranties as to the condition of any vehicle.  Descriptions and photos contained herein may not be accurate and buyer is 100% responsible for inspecting the vehicle prior to bidding.  NO REFUNDS will be given on any purchased vehicle under any circumstances.  ALL SALES ARE FINAL!


Pick Up Location and Contact Information

All winning bidders are responsible for picking up their vehicle(s) at our lot located at 928 E. Vermont Ave, Anaheim, CA 92805.  Call our offices at (714) 991-6044 if you have any questions or wish to schedule an appointment to view a car.


About our Ebay Auction

·       There is NO Buy It Now price so please do not ask.

·       We reserve the right to end any auction early for any reason.

·       We do not accept trades nor can you trade your vehicle for another vehicle we have listed on ebay.

·       We do not sell parts off any vehicle and vehicles will not be parted out.

·       DO NOT BID if you do not intend to complete the transaction.

·       CALL US if you have any questions PRIOR to bidding (714) 991-6044.

·       We reserve the right to block any bidder for any reason.

·       By placing a bid you acknowledge that you have read and understand and agree to the terms of this listing.

·       All vehicles are delivered at our location.  Buyers are responsible for picking vehicles up or arranging their own transportation.

·       All sales are FINAL!

PLEASE READ AD IN FULL PRIOR TO BIDDING!


ALL NEW EBAY BIDDERS, FIRST TIME BIDDERS TO OUR SITE, OR BIDDERS WITH "0" FEEDBACK MUST CONTACT OUR OFFICE WITH YOUR NAME AND PHONE NUMBER BEFORE BIDDING OR YOUR BID WILL BE CANCELED! PLEASE CALL (714) 991-6044.  (IF NO ANSWER, CONTACT SELLER THROUGH EBAY)

TODO POSTOR NUEVO EN EBAY, O PRIMERA VEZ APOSTANDO, O POSTOR CON "0" INFORMACION, TENDRA QUE COMUNICARSE CON NUESTRA OFICINA Y DAR SU NOMBRE Y TELEFONO ANTES DE APOSTAR. SINO LA CONCECUENCIA SERA QUE LA APUESTA SERA CANCELADA! (714) 991-6044.


Item Description

Up for auction is a 1998 Toyota Avalon that was recently donated to a national charitable foundation and is being sold with NO RESERVE.

The vehicle is equipped with a 6cyl engine and automatic transmission.  The odometer shows 293,717 miles.  It’s fairly well equipped with most of the options.  The seats are tan and appear to be in decent condition, although a good detail will make a huge difference.  The exterior of the car is green and is showing signs of wear and is faded.  It has a few door dings and scratches.  The tires appear to HAVE ROUGHLY 20% road life left.  Please refer to the photos included in this auction for more description details.

This vehicle RUNS but does NOT drive.

***This vehicle has a blown head gasket and needs replacing.***

***The valve cover gasket is leaking oil and needs replacing.***

***The driver’s door does Not open and the windshield is cracked and needs replacing.***


Title and DMV

This vehicle comes with a clear California Title and its Registration was valid through 11/12.   All taxes, fees, and penalties due to the DMV, are the responsibility of the buyer.


Disclaimer

This vehicle was donated!  Therefore we do not have ANY information regarding the history or condition of the vehicle other than what we can see.  We do not perform any physical or mechanical inspections on the vehicle.  No vehicles are test driven so we cannot vouch for any drivability nor condition of the motor or transmission unless it is evident when the vehicle is dropped off.  We can only describe what is evident.  There may be other problems with the vehicle which are not apparent, visible or known.  We are not responsible for inaccurate or incomplete descriptions of the vehicle.  We make every effort to photograph details, however, if something is missed or damage is not shown that is not our responsibility.  The buyer has every opportunity to inspect the vehicle PRIOR to bidding.  If you cannot inspect the vehicle prior to bidding then you are bidding at your own risk.  Every vehicle is sold in “as is” and “where is” condition.  Once the vehicle is paid for and leaves our lot there are NO REFUNDS and NO RECOURSE.  Buyers may schedule an appointment to view any vehicle by calling (714) 991-6044.


Payment Terms

·       Deposit must be received within 24 hours of the end of the auction.  Full payment is required within three (3) days of the end of the auction.

·       All auctions are subject to a doc fee as follows:

o   $75.00 for vehicle under $1,000

o   $100.00 for vehicles over $1,000 and $50.00 for every $1,000 thereafter

·       Vehicles not paid for in full within three (3) days of end of auction will be subject to a penalty of $50.00 plus $20.00 PER DAY in storage fees (storage fees are not negotiable and must be paid prior to release of vehicle).

·       Vehicles not paid for within one week of end of auction will result in buyer’s privileges revoked and vehicle to be relisted on ebay.


Payment Type

We accept cash in person, credit card (Visa and MC and Discovery only) and PayPal (up to $1,000.00) only.  Cashier’s checks may be used for payment but vehicle will not be released until cashier’s check clears (up to three business days).


NO Refund and NO Warranty Policy

All cars are sold in AS IS and WHERE IS condition with all faults – known and unknown, described or not described.  Should there be ANY mechanical issues discovered after the purchase of the vehicle there will be no recourse offered by the Seller.  The Buyer will be 100% responsible for any problems discovered after the vehicle leaves the lot.  Seller makes NO warranties as to the condition of any vehicle.  Descriptions and photos contained herein may not be accurate and buyer is 100% responsible for inspecting the vehicle prior to bidding.  NO REFUNDS will be given on any purchased vehicle under any circumstances.  ALL SALES ARE FINAL!


Pick Up Location and Contact Information

All winning bidders are responsible for picking up their vehicle(s) at our lot located at 928 E. Vermont Ave, Anaheim, CA 92805.  Call our offices at (714) 991-6044 if you have any questions or wish to schedule an appointment to view a car.


About our Ebay Auction

·       There is NO Buy It Now price so please do not ask.

·       We reserve the right to end any auction early for any reason.

·       We do not accept trades nor can you trade your vehicle for another vehicle we have listed on ebay.

·       We do not sell parts off any vehicle and vehicles will not be parted out.

·       DO NOT BID if you do not intend to complete the transaction.

·       CALL US if you have any questions PRIOR to bidding (714) 991-6044.

·       We reserve the right to block any bidder for any reason.

·       By placing a bid you acknowledge that you have read and understand and agree to the terms of this listing.

·       All vehicles are delivered at our location.  Buyers are responsible for picking vehicles up or arranging their own transportation.

·       All sales are FINAL!

PLEASE READ AD IN FULL PRIOR TO BIDDING!


ALL NEW EBAY BIDDERS, FIRST TIME BIDDERS TO OUR SITE, OR BIDDERS WITH "0" FEEDBACK MUST CONTACT OUR OFFICE WITH YOUR NAME AND PHONE NUMBER BEFORE BIDDING OR YOUR BID WILL BE CANCELED! PLEASE CALL (714) 991-6044.  (IF NO ANSWER, CONTACT SELLER THROUGH EBAY)

TODO POSTOR NUEVO EN EBAY, O PRIMERA VEZ APOSTANDO, O POSTOR CON "0" INFORMACION, TENDRA QUE COMUNICARSE CON NUESTRA OFICINA Y DAR SU NOMBRE Y TELEFONO ANTES DE APOSTAR. SINO LA CONCECUENCIA SERA QUE LA APUESTA SERA CANCELADA! (714) 991-6044.


Item Description

Up for auction is a 1998 Toyota Avalon that was recently donated to a national charitable foundation and is being sold with NO RESERVE.

The vehicle is equipped with a 6cyl engine and automatic transmission.  The odometer shows 293,717 miles.  It’s fairly well equipped with most of the options.  The seats are tan and appear to be in decent condition, although a good detail will make a huge difference.  The exterior of the car is green and is showing signs of wear and is faded.  It has a few door dings and scratches.  The tires appear to HAVE ROUGHLY 20% road life left.  Please refer to the photos included in this auction for more description details.

This vehicle RUNS but does NOT drive.

***This vehicle has a blown head gasket and needs replacing.***


Title and DMV

This vehicle comes with a clear California Title and its Registration was valid through 11/12.   All taxes, fees, and penalties due to the DMV, are the responsibility of the buyer.


Disclaimer

This vehicle was donated!  Therefore we do not have ANY information regarding the history or condition of the vehicle other than what we can see.  We do not perform any physical or mechanical inspections on the vehicle.  No vehicles are test driven so we cannot vouch for any drivability nor condition of the motor or transmission unless it is evident when the vehicle is dropped off.  We can only describe what is evident.  There may be other problems with the vehicle which are not apparent, visible or known.  We are not responsible for inaccurate or incomplete descriptions of the vehicle.  We make every effort to photograph details, however, if something is missed or damage is not shown that is not our responsibility.  The buyer has every opportunity to inspect the vehicle PRIOR to bidding.  If you cannot inspect the vehicle prior to bidding then you are bidding at your own risk.  Every vehicle is sold in “as is” and “where is” condition.  Once the vehicle is paid for and leaves our lot there are NO REFUNDS and NO RECOURSE.  Buyers may schedule an appointment to view any vehicle by calling (714) 991-6044.


Payment Terms

·       Deposit must be received within 24 hours of the end of the auction.  Full payment is required within three (3) days of the end of the auction.

·       All auctions are subject to a doc fee as follows:

o   $75.00 for vehicle under $1,000

o   $100.00 for vehicles over $1,000 and $50.00 for every $1,000 thereafter

·       Vehicles not paid for in full within three (3) days of end of auction will be subject to a penalty of $50.00 plus $20.00 PER DAY in storage fees (storage fees are not negotiable and must be paid prior to release of vehicle).

·       Vehicles not paid for within one week of end of auction will result in buyer’s privileges revoked and vehicle to be relisted on ebay.


Payment Type

We accept cash in person, credit card (Visa and MC and Discovery only) and PayPal (up to $1,000.00) only.  Cashier’s checks may be used for payment but vehicle will not be released until cashier’s check clears (up to three business days).


NO Refund and NO Warranty Policy

All cars are sold in AS IS and WHERE IS condition with all faults – known and unknown, described or not described.  Should there be ANY mechanical issues discovered after the purchase of the vehicle there will be no recourse offered by the Seller.  The Buyer will be 100% responsible for any problems discovered after the vehicle leaves the lot.  Seller makes NO warranties as to the condition of any vehicle.  Descriptions and photos contained herein may not be accurate and buyer is 100% responsible for inspecting the vehicle prior to bidding.  NO REFUNDS will be given on any purchased vehicle under any circumstances.  ALL SALES ARE FINAL!


Pick Up Location and Contact Information

All winning bidders are responsible for picking up their vehicle(s) at our lot located at 928 E. Vermont Ave, Anaheim, CA 92805.  Call our offices at (714) 991-6044 if you have any questions or wish to schedule an appointment to view a car.


About our Ebay Auction

·       There is NO Buy It Now price so please do not ask.

·       We reserve the right to end any auction early for any reason.

·       We do not accept trades nor can you trade your vehicle for another vehicle we have listed on ebay.

·       We do not sell parts off any vehicle and vehicles will not be parted out.

·       DO NOT BID if you do not intend to complete the transaction.

·       CALL US if you have any questions PRIOR to bidding (714) 991-6044.

·       We reserve the right to block any bidder for any reason.

·       By placing a bid you acknowledge that you have read and understand and agree to the terms of this listing.

·       All vehicles are delivered at our location.  Buyers are responsible for picking vehicles up or arranging their own transportation.

·       All sales are FINAL!                                                

 

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Auto Repair & Service, Automobile Body Repairing & Painting, Window Tinting
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Phone: (310) 463-1877

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Auto Repair & Service, Brake Repair
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Phone: (818) 557-0204

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Auto Repair & Service, Towing, Emissions Inspection Stations
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Phone: (951) 398-4190

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Phone: (408) 270-2800

Auto blog

Mechanic bagged by red light camera at 3AM driving customer car

Mon, Dec 8 2014

This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. An Oregon woman took her 2001 Mitsubishi Montero to Steve's Imports in Portland to have the emissions system fixed; the business, however, is a repair and body shop that doesn't appear to specialize in emissions. After paying $2,299.05 for the fix she got a call from the shop informing her that a repairman had been caught on camera running a red light, so she should expect a ticket. When the ticket came, the image with it was the one above, taken at 2:59 AM. The shop's owner, Steve Spinnett, said the man in the car is his son, Tommy Spinnett, who is the shop foreman. The woman is a "family friend" that Tommy was picking up from a concert. Steve told KVAL news that his son had the car all weekend to put it through a drive cycle, and that the shop doesn't charge for drive cycles done after hours. Even if all of that is true, drive cycles don't take a whole weekend - a thorough emissions-test drive cycle can be done in a couple of hours. And then there's this: the owner needed to pass the emissions test to get new license plates; the ones on the vehicle that Tommy drove over the weekend were expired. We've written about some egregious instances of customer abuse at the hands of dealership and repair shops, but this isn't one of them. But it looks bad and it's suspicious, and everyone involved might want to be more careful next time. You'll find more details on the incident in the video.

Recharge Wrap-up: Mitsubishi Outlander PHEV Finishes AXCR, Nissan Leafs drive 528 million collective miles

Wed, Aug 20 2014

The Mitsubishi Outlander PHEV has successfully completed the Asia Cross Country Rally 2014. The plug-in Mitsu finished first in the EV class, and 14th overall, clocking in at 19 hours, 17 minutes and 12 seconds. For its second year in the competition, the Outlander PHEV used a new suspension with more ground clearance to help it tackle the race's treacherous terrain. Besides the glory of taking on the challenging competition, the rally helped Mitsubishi gather valuable data for EV development. The race took place over 1,367 miles of varied terrain from Thailand to Cambodia. Read more at Hybrid Cars, or visit Mitsubishi UK's Facebook page. Nissan Leaf drivers have driven more than 528 million miles worldwide. That accounts for a reduction of 150,000 tons of carbon dioxide emissions since the EV's 2010 launch. Nissan projects that Leaf drivers will surpass a collective 1 billion electric kilometers (621 million miles) by January 2015, or perhaps even sooner if sales keep increasing. The mileage data was collected through the car's CarWings telemetry. Read more at Green Car Congress. 40 percent of luxury cars will be powered by some form of electrification by 2030, according to Audi. Whether it's battery-electric, hybrid, or plug-in hybrid, electrons will be doing their share to get the well-heeled from place to place. According to an article at The Sydney Morning Herald, PHEVs are "the most promising option." The BMW i8 is a fine example, as is the Porsche Panamera S E-Hybrid, and Audi and Mercedes-Benz have plug-in plans of their own. Lexus, not so much. Read more at The Sydney Morning Herald. PGA golfer Hunter Mahan has taken delivery of a BMW i3 he won by scoring a hole-in-one. BMW offered a free, all-electric i3 to the first player to score a hole-in-one in the 2013 BMW Championship at Conway Farms Golf Club, which Mahan did on the 17th hole. The BMW Championship raised money for Evans Scholars Foundation. BMW Hole-in-One Scholar Melyzjah Smith, who was awarded a full four-year college tuition and housing scholarship in honor of Mahan's slick shot, was on hand to meet the golfer as he received his i3. Read more in the press release below. Uber has hired President Obama's 2008 campaign manager as its senior vice president of policy and strategy. David Plouffe will help the ride-hailing app navigate government policy and relations. The Taxicab, Limousine and Paratransit Association didn't think the move was a good one.

Mitsubishi pondering $2B share sale?

Sun, 15 Sep 2013

Mitsubishi makes the brilliantly fast, wonderfully fun Lancer Evolution. Outside of that road-going rally car, the rest of the range is pretty poor - the new Outlander isn't bad, but the subcompact Mirage looks like might've been competitive five years ago, while the Galant and Lancer have suffered from serial neglect.
This hasn't just lead to rumors of Mitsu's death in America; the subsidiary of the massive Mitsubishi Group has been in trouble at home, too. It was bailed out by three other Mitsubishi Group companies - Mitsubishi UFJ Financial, Mitsubishi Heavy Industries and Mitsubishi Corporation - between 2004 and 2005, according to Bloomberg. Now, it's attempting to extricate itself from "emergency mode," as analyst Koichi Sugimoto told the financial site, adding that "they're still in the very early stages of recovery."
As part of the bailout, Mitsubishi issued its three saviors billions of dollars of preferred shares, which don't have voting rights. The problem is, Mitsubishi hasn't issued dividend payments since 1998, and these stocks aren't exactly competing with Apple or Google, in terms of value. In other words, they're mostly worthless. With a public offering, Mitsubishi is expecting to raise 200 billion yen, or about $2 billion, in order to reduce the number of preferred shares. If all goes according to plan, it will wipe out preferred shares by March of 2014, or the end of fiscal year 2013.