2wd 4dr Cvt Se Low Miles Suv Cvt Gasoline 2.0l I4 Mivec Dohc Diamond White Pearl on 2040-cars

Auto blog

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.

Mitsubishi recalls Mirage in snowy states for airbag delay

The Basics: Mitsubishi is recalling 25,185 examples of the 2014-2015 Mirage, built between August 7, 2013, and September 2, 2015, sold or ever registered in states that use salt to melt ice on the road during the winter months. Those include Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, Wisconsin, and the District of Columbia. The Problem: Snow with road salt tracked in on boots could cause a wiring connector to short out behind a kick panel next to the driver's footrest, potentially delaying the deployment of the front airbags. Injuries/Deaths: None reported. The fix: Mitsubishi dealers are being instructed to inspect the electrical connectors, replace any corroded ones, and fit a waterproof sheet to prevent any further corrosion. No timeframe has been set as of yet. If you own one: Try not to track in too much snow. Watch out for the SRS warning light on the dashboard, which will alert you if there's a problem with the airbags. Expect to hear from Mitsubishi Motors North America in due course to arrange for your vehicle to be checked out at a local dealer. Related Video: RECALL Subject : Air Bag Deployment may be Delayed due to Corrosion Report Receipt Date: DEC 04, 2015 NHTSA Campaign Number: 15V815000 Component(s): AIR BAGS , ELECTRICAL SYSTEM All Products Associated with this Recall Manufacturer: Mitsubishi Motors North America, Inc. SUMMARY: Mitsubishi Motors North America, Inc. (MMNA) is recalling certain model year 2014-2015 Mitsubishi Mirage vehicles manufactured August 7, 2013, to September 2, 2015 and originally sold in, or ever registered in, Connecticut, Delaware, Illinois, Indiana, Iowa, Kentucky, Maine, Maryland, Massachusetts, Michigan, Minnesota, Missouri, New Hampshire, New Jersey, New York, Ohio, Pennsylvania, Rhode Island, Vermont, Virginia, West Virginia, Wisconsin, and District of Columbia. If the driver enters an affected vehicle with their boots covered with snow mixed with road salt, the melting snow may soak through the carpet and cause corrosion to a wiring connector located in a junction box behind a kick panel to the left of the driver's footrest. CONSEQUENCE: In the event of a crash, corrosion of the connector could delay deployment of the frontal air bags, increasing the risk of injury to the driver and the front seat passenger.

Minnesota couple puts 414k miles on a 2014 Mitsubishi Mirage

A couple in Minnesota just traded in their 414,000-mile 2014 Mitsubishi Mirage, which is notable for any car, topping many of the Junkyard Gems we've featured. We were also impressed because that's a lot of miles in a car that we weren't especially fond of. But the couple that owned it, Jerry and Janice Huot, clearly liked it. Dubbed the "Purple Won" in a nod to Prince, the subcompact endured six upper Midwest winters as an all-purpose utility and delivery vehicle. "I always loved the comments at gas stations and grocery stores and waves from people as I’d drive by," Jerry said. "Kids would always stop and point. Everybody seemed to love that car; it would make everyone smile whenever they saw it." The Huots were repeat Mitsubishi buyers in search of something with better fuel efficiency than their Cadillac. While Mitsubishi didn't specify which model the Huots traded in, it's safe to say that whatever it was, the 2014 Mirage would have been a significant upgrade in that respect, as it was rated at 37 mpg in the city, 44 on the highway and 40 combined when it was sold new; the EPA has since re-rated it at 36/42/39.   "Right in the middle of the showroom was this little purple Mirage that got 44 mpg," Janice told Mitsubishi. "IÂ’d had an Outlander Sport and Montero Sport before and loved them, so it seemed like a good choice. We drove the Mirage home that day, right off the showroom floor." "Janice drove it mostly for the first 7,000 miles or so, but when winter came, she wanted all-wheel-drive, so she got a 2015 Mitsubishi Outlander Sport," Jerry says. "But then I started using the Mirage for my business. I am a courier. I deliver samples from various doctorsÂ’ offices to labs, so I drive up and down the state and around town in Minneapolis all the time. The Mirage never missed a beat. It got me up and out of our gravel driveway, even in the middle of winter, when others got stuck in the snow." According to the Huots, the Mirage only needed two noteworthy repairs on its way to 414,000 miles: a replacement starter motor between 200,000 and 300,000 miles and a new set of wheel bearings some time after 150k, both of which they say were addressed under warranty. We checked with Mitsubishi, who confirmed that the Huots purchased an extended warranty from the dealership, hence the coverage of failed items at such high mileage. Apart from that, the Huots say it has needed only regularly scheduled maintenance. What replaced it? Another Mirage, predictably.