2003 Mitsubishi Lancer Evolution Evo 9 Turbo E85 Tuned Bolt-ons on 2040-cars

Auto blog

Nissan posts $6.2 billion annual loss and unveils plan to cut costs

TOKYO — Nissan outlined a new plan on Thursday to become a smaller, more cost-efficient carmaker after the coronavirus pandemic exacerbated a slide in profitability that culminated in its first annual loss in 11 years. Under a new four-year plan, the Japanese manufacturer will slash its production capacity and model range by about a fifth to help cut 300 billion yen from fixed costs. It will shut plants in Spain and Indonesia, leave the South Korean market and pull its Datsun brand from Russia as part of a strategy unveiled on Wednesday to share production globally with its partners Renault and Mitsubishi. "I will make every effort to return Nissan to a growth path," Nissan Chief Executive Makoto Uchida said, adding that the company had learned from its past mistakes of chasing global market share at all costs. "We must admit failures and take corrective actions," he said, adding that starting with top-level managers, the company had to break its inward-looking culture which in the past has stymied efforts to deepen cooperation with France's Renault. Uchida said improving the company's cash flow was its biggest challenge. He reiterated that Nissan's cash liquidity was good even though it had negative free cash flow of 641 billion yen in the year ended in March. Nissan declined to give any forecasts for its current financial year which started in April due to the uncertainty created by the coronavirus pandemic. It also declined to give details on how many jobs it was cutting. In what is Nissan's second recovery plan in less than a year, Uchida pledged a return to profitability with a core operating profit margin above 5% and a sustainable global market share of 6%. Nissan posted an annual operating loss of 40.5 billion yen for the year to March 31, its worst performance since 2008/09. Its operating profit margin was -0.4%. The automaker said on Thursday that it sold 4.9 million vehicles last year, up from an earlier estimate of 4.8 million. That was still the second decline in a row and a fall of 11% from the previous period but meant Nissan clung on to its position as Japan's second biggest carmaker, just ahead of Honda and a long way behind Toyota. Pandemic pressure Even before the spread of the novel coronavirus, Nissan's slumping profits had forced it to row back on an aggressive expansion plan pursued by ousted leader Carlos Ghosn. The pandemic has only piled on the urgency to downsize.

Mitsubishi to add new crossover to US lineup

With crossovers of all sizes enjoying immense popularity with consumers, Mitsubishi is making a grab for some of the action with a third CUV offering. The as-of-yet unnamed vehicle is set to slot in between the baby Outlander Sport and the full-size Outlander, CEO Osamu Masuko told Automotive News ahead of the Tokyo Motor Show. Aimed squarely at the crossover-crazy US and European markets, this new vehicle will likely enter production two years from now. That should mean an auto show debut at Paris or Los Angeles in 2016, or at some point in early 2017. The new vehicle would duke it out with the redesigned Kia Sportage and Hyundai Tuscon. If it sounds like this new CUV would cannibalize some of its little brother's sales, you'd be right. To prevent this, Mitsu will tweak the sizes of the vehicles it currently offers. "The Outlander is growing in size, while the Outlander Sport is getting smaller, so it opens a space for the new SUV," Masuko told AN. "We need something to fit in between." Having a three-tiered CUV lineup might help Mitsubishi, which has enjoyed 26 percent sales growth through September this year. According to AN, over half of Mitsu's current sales come from the Outlander and Outlander Sport. Adding a third CUV would capitalize on a US market that's clamoring for light trucks and crossovers. Before the third model debuts, the next step for the brand will be the arrival of a plug-in hybrid Outlander. You can look for our review on that next year. Featured Gallery Mitsubishi eX Concept View 34 Photos News Source: Automotive News - sub. req.Image Credit: Mitsubishi Mitsubishi Crossover Economy Cars osamu masuko

Junkyard Gem: 2006 Mitsubishi Raider

When I'm scouring the rows of a big, fast-inventory-turnover vehicle boneyard for fascinating examples of automotive history, I keep strange examples of badge engineering at the top of my shopping list. Subarus with Saab emblems, Isuzus with Acura emblems, Hyundais with Mitsubishi emblems, Austins with Nash emblems, Mazdas with Mercury emblems, all the vehicles that sprang into existence because Carmaker A wanted to fill a vacant slot in the showrooms and Carmaker B proved willing to offer a vehicle that fit that slot. While I have yet to unearth a discarded Suzuki Equator pickup, I've found this truck with a far more convoluted model-name history: a 2006 Mitsubishi Raider in Phoenix. Chrysler sold rebadged Mitsubishis over here for decades, beginning with the Dodge Colt in the 1971 model year. Trucks joined the mix in the middle 1970s, with the Plymouth Arrow and then the Dodge D-50/Ram 50 pickups. The Dodge-ized Mitsubishi pickups soon faced competition from their Mitsubishi-badged twins, in the form of the Mighty Max, and then Chrysler began selling first-generation Mitsubishi Monteros with Dodge badging. That truck became the Dodge Raider, available with "Imported for Dodge" emblems in North America for the 1987 through 1989 model years. Raider owners loved their tough little SUVs every bit as much as Montero owners loved theirs, and so the Raider name continued — decades later — to have positive connotations in the world of Dodge and Mitsubishi truck owners. So, when the American outpost of the Mitsubishi Empire needed a pickup to offer in their showrooms (the Mighty Max having been axed in 1996), they turned to their friends at Chrysler and the Dodge Dakota pickup. With some new bodywork and tough-looking Raider badges, the Dodge/Mitsubishi Raider circle had been closed. Raider sales began in 2005 for the 2006 model year. Sales numbers proved disappointing, and 2009 was the last year for the Raider. This one got crashed hard, then picked over for mechanical goodies by Dakota owners. You won't find many pickups this new with manual transmissions, but this one had one. The engine is long gone, but would have been an American Motors-developed 4.7-liter V8 or 3.7-liter V6. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. With Dodge going murderously macho with their ads last decade, Mitsubishi had no choice but to follow that formula with the Raider. Related Video: