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2015 Mitsubishi Outlander Sport gets power bump

Mitsubishi is working to keep its products up to date. While the prospect for a midsize sedan might be on hold, and the Outlander Plug-in Hybrid keeps seeing delays; the Outlander Sport is at least getting a more powerful, optional engine for two trims in the 2015 model year. The Japanese brand's compact crossover is now offered with a 2.4-liter four-cylinder making 168 horsepower and 167 pound-feet of torque, and it's hooked up to a CVT. That works out to a jump of 20 hp and 22 lb-ft over the current 2.0-liter four-cylinder in the Outlander Sport. Fuel economy is rated at 23 miles per gallon city, 28 mpg highway and 25 mpg combined for the front-wheel drive version or 23/26/24 for all-wheel drive models. The larger engine is only available on the ES and GT trim levels. Prices for the 2.4 ES start at at $21,295, plus an $850 destination charge on all models, and it also gets a black center bumper. The 2.4 GT rings up for $23,595 and adds things like a power driver's seat, black roof rails and LED turn signals in the mirrors. Additionally, customers can option the GT Premium Package for an upgraded stereo, moonroof and auto-dimming rearview mirror. There's also the GT Touring Package with leather seats and a seven-inch navigation system. MITSUBISHI MOTORS INTRODUCES MORE POWERFUL 2015 OUTLANDER SPORT New 2.4-liter engine produces 168 horsepower – 20 more horsepower than currently offered 2.0-liter engine The 2.4l engine will be available in two trim levels: 2.4 ES and 2.4 GT Mitsubishi Motors North America, Inc. (MMNA) has introduced a more powerful version of the 2015 Outlander Sport 5-passenger crossover that includes a larger displacement 2.4-liter MIVEC 4-cylinder engine producing 168 horsepower – a 20 horsepower increase over the current 2.0-liter engine. With a starting MSRP of $21,295, the 2015 Mitsubishi Outlander Sport 2.4 ES features a black center bumper to visually differentiate this model from the standard ES trim level. The 2015 Mitsubishi Outlander Sport 2.4 GT has a MSRP of $23,595 and includes additional features such as a power driver's seat, leather-wrapped parking brake handle, aluminum pedals, and exterior enhancements including a black center bumper along with black roof rails and outside mirrors with LED turn indicators. The 2.4 GT model includes an optional GT Premium Package that consists of a 710-watt Rockford Fosgate® premium sound system with 9 speakers including 10-in.

Mitsubishi fuel economy scandal will result in $1.39 billion loss

The fuel economy scandal revealed a couple months ago will cost Mitsubishi Motors a pretty penny. According to The New York Times, the Japanese automaker predicted the fiscal year 2016 will result in a loss of 145 billion yen, or $1.39 billion. We won't know for sure until March rolls around. The prediction is even more striking when compared to Mitsubishi's performance during the last few years. It will be Mitsubishi's first reported loss in eight years. In 2014, Mitsubishi reported a global profit of $1.2 billion, which doubled the profits of the previous year, and in the spring of 2015 the US arm of the manufacturer reported its first profits in seven years – $4.18 million. For a little while there, it seemed like things were looking really good for Mitsubishi, but past flaws caught up with it. Some of the models built have had their fuel economy readings rounded by as much as 15 percent, due to the way running resistance is calculated in laboratory conditions. Nissan swept in to buy one third of Mitsubishi, and under the Renault-Nissan alliance it is likely Mitsubishi will be put on a crash course to clear its name and start turning a profit again. But the bad publicity caused by the scandal will probably mean it'll be far in the future. Related Video:

Mitsubishi pondering $2B share sale?

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.