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Mitsubishi slashes annual profit forecast on slowing car sales

TOKYO — Mitsubishi Motors on Wednesday cut its full-year profit outlook by 67% as it expects sluggish demand in North America and China will continue, while a strong yen and research and development costs will also hurt the automaker's bottom line. Japan's sixth-largest automaker now expects operating profit to come in at 30.0 billion yen in the year to March, down from a previous forecast for 90.0 billion yen. The new outlook would be Mitsubishi's lowest profit since the year ended March 2017. The downgrade comes after Mitsubishi, in which Nissan holds a controlling stake, reported a 78% plunge in operating profit during the July-September quarter to 6.3 billion yen, lower than a mean forecast for 16.26 billion yen from analysts polled by Refinitiv. It joins a growing number of Japanese automakers which are bracing for lower profitability. Earlier on Wednesday, Subaru lowered its annual profit forecast due to a stronger yen and a cut in domestic output due to a major typhoon last month. Mazda and Suzuki have also cut their respective outlooks within the past month due to slowing demand for their cars. Earnings/Financials Mitsubishi

Scrapyard Gem: 2008 Mitsubishi i

YORK, England — The mainstream EV is still a bit too young to be easy to find in the car graveyards I frequent (though I have documented a few, including Toyota's RAV4-based competitor to the GM EV1), but I remain hopeful that I'll run across a discarded Mitsubishi i-MiEV during my junkyard travels. This might be difficult, since Mitsubishi sold just over 2,000 examples of the short-range electrified kei car in the United States before discontinuing its sale here in 2016. However, I managed to find one of the i-MiEV's gasoline-fueled brethren in a knacker's yard across the Atlantic: a Mitsubishi i. Yes, I traveled to Northern England in January with the primary goal of visiting one of only two American-style self-service scrapyards in Great Britain (that's what they call them over here): the U-Pull-It in York, which is owned by Dallas-based Copart. You'll be seeing many interesting discarded vehicles from that all-too-brief trip, so be sure to check in here regularly. The i (there ought to be an international treaty forbidding the use of a single lower-case letter as the designation for a vehicle model, as well as vehicles with punctuation marks in their names) was built from the 2006 through 2013 model years. Supposedly its name refers to the pronunciation for the Japanese word for "love." In order to meet kei standards in its homeland, it was fitted with a rear-mounted engine displacing just 0.659 liters. It appears that the internal-combustion-powered i was built only in right-hand-drive configuration, so Mitsubishi limited exports to drive-on-the-left places such as Hong Kong, Singapore and the United Kingdom. The MSRP for a new 2008 i in the UK was GBP9,084, or about GBP14,173 after inflation (that's about $17,992 in 2024 dollars). It seems that the i was just too weird-looking and too slow to appeal to many British car shoppers. Today's Junkyard Scrapyard Gem was one of a mere 303 examples of the Mitsubishi i exported to Europe. The i was available only with a four-speed automatic transmission. The engine compartment refused to open, and I grew tired of beating up my frozen fingers trying to force it open in the 29°F chill of North Yorkshire on a January morning Â… so here's the best shot of the turbocharged DOHC three-banger I was able to get.

2022 Mitsubishi Outlander pricing, fuel economy announced

Mitsubishi has announced pricing on what is probably the most compelling — and important to the company's future — product in a decade, the 2022 Outlander. As we learned at the reveal, the base ES trim will start at $25,795, or $26,990 when the destination charge is factored in. Fuel economy figures are also in, giving the Outlander a rating of 24 miles per gallon in the city, 31 on the highway and 27 combined for the front-wheel-drive model. Mitsubishi's S-AWC all-wheel-drive system, which is available on any trim for $1,800, drops one mpg highway and combined. By way of comparison, the base 2021 Nissan Roque, which uses a similar engine and platform, gets 27 city, 35 highway and 30 combined in front-wheel drive guise. That combined figure matches that of the Honda CR-V and Toyota RAV4. It's worth noting that the Mitsubishi Outlander comes standard with a third row for seven-passenger seating, so a direct comparison with the Rogue isn't exactly fair. The ES comes with what is now an obligatory suite of tech, like automatic braking forward and rear, blind spot warnings, and Apple CarPlay/Android Auto. 18-inch alloy wheels are standard, but a $1,000 convenience package adds 20-inchers and the Mitsubishi Connect remote services smartphone link (which comes with 24 months free). That places the three-row ES below the Toyota RAV4 but above the Honda CR-V. Next up is the SE trim, ringing in at $28,845 with everything the ES offers and adding 20-inch wheels, heated front seats and side mirrors, proximity unlocking, and a leather steering wheel. Here, the tech content is boosted quite a bit, with the bird's-eye multi-view camera system, parking sensors, and wireless phone charging. You no longer need an upgrade package to get Mitsubishi Connect, and it also has MiPilot Assist which adds adaptive cruise with stop and go in traffic, lane keeping assist, and traffic sign recognition. The touchscreen gets bumped from 8 to 9 inches, and USB charging ports become available for rear passengers as well. A $2,300 SE Tech Package adds a 12.3-inch LCD instrument panel, premium sound system by Bose, and panoramic sunroof.  The top-spec SEL stickers at $31,945, building upon the other trims while adding the aforementioned 12.3-inch multi-function display, leather seats, 4-way power seats key-linked to memory, three-zone climate control, roof rails, and heated rear seats.