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2017 Mitsubishi Outlander PHEV will debut in New York

Mitsubishi is betting big on crossovers and EVs, and some promising stuff is in store for the end of this decade. But in the very near future, the first product in Mitsubishi's EV/CUV strategy will launch in the US: the 2017 Outlander PHEV will finally bow at the New York Auto Show in March. I say "finally" because Mitsubishi already offers a plug-in Outlander in other markets, and overseas the PHEV crossover is off to a great start. Mitsubishi is seeing "great success in Europe," according to Ken Konieczka, the company's VP of sales operations. And when the Outlander PHEV launches in the US later this year, Konieczka thinks it'll attract a lot of new buyers to the Mitsubishi brand. I got to see the 2017 Outlander PHEV at a small event in Detroit on Thursday. It's the only one in the country, and still has to undergo some more testing and development before the CUV ready for the spotlight. Perhaps that's why Mitsubishi parked it in a dark corner of Detroit's Garden Theater. Compared to the regular Outlander you see pictured here, the PHEV doesn't look all that different save some badges on the tailgate and front fenders and, of course, the charging port. But that's not all Mitsubishi has in store for New York. The Mirage G4 sedan will also bow at that show, after its Canadian introduction at the Toronto Auto Show in February. Like the Outlander PHEV, the Mirage G4 already exists in other markets, and Mitsubishi says it has the largest interior volume of any sedan in its class. More information about both models – including pricing and specifications – will be available when both cars hit the Javits Center stage in March.

Subprime financing on the rise in new car sales, leasing too

We all remember the financial crisis that began several years back. At its core was a splurge of subprime lending for housing loans. The housing bubble burst, triggering a collapse of the mortgage-backed securities market. Apparently, those types of loans still exist in the automotive industry, and the market share for these types of "nonprime, subprime, and deep subprime," loans has grown 13.6 percent compared to the third quarter a year ago.
According to an Automotive News report, high-risk lending expanded to 24.8 percent of total loans in Q3, up from 21.9 percent for this time last year. As this level increased, average credit scores of borrowers dropped to 755, down from 763 a year ago. In that time, the average financing amount increased $90 per vehicle, to $25,963.
At 818, Volvo maintains the highest per-owner credit score, while Mitsubishi has the lowest, at 694. The highest rate of borrowers was at Toyota, with 14 percent of the market, followed by Ford with 13.1 percent and Chevrolet at 11.1.

Toyota, Honda, Nissan and more collaborating to increase fuel efficiency

Toyota, Honda, Mazda, Nissan, Subaru, Mitsubishi, Suzuki and Daihatsu have announced an alliance that will see a push to improve fuel economy from both gas-powered and diesel-powered engines by as much as 30 percent before the end of the decade.
The newly assembled Research Association of Automotive Internal Combustion Engines put the roughly $20-million project together, with the Japanese government committing to half the cost while the eight manufacturers will chip in the rest.
According to Automotive News, the automakers will team up and share basic research on internal-combustion engines in a bid to cut costs. Eventually, the results of the research will find its way into a production vehicle, although it's unclear just when we'll see the fruits of this partnership on the road.