2005 Mitsubishi Lancer Evolution Mr Sedan 4-door 2.0l on 2040-cars

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Mitsubishi Lancer Evolution will live through 2015

If it were only so easy for humans. Mitsubishi has extended the life of the Lancer Evolution X by at least a year. An MMNA spokesperson tells AutoGuide that it is "committed to introducing the 2015 model year Lancer Evolution," noting that production for said models will begin in July. This gives us a year of clarity about the future of a model whose future blinks in and out of existence quicker than a boson particle.
As far as we can tell, the Evo as we know it is definitely going to die, the question is when. In March, Mitsubishi said it "does not have any plans to design a successor with the current concept, as a high-performance four-wheel drive gasoline-powered sedan." What is rumored to fill the hole left by the Evo might or might not be a linear descendent, but is expected to be some kind of hybridized high-performance model about which much has been speculated.
MMNA PR manager Alex Fedorak told Autoblog, "Mitsubishi Motors North America, Inc. (MMNA) is committed to introducing the 2015 model year Lancer Evolution in the U.S. Production of North American-specification Lancer Evolution models for the 2015 model year will commence in July 2014." Our previous advice still stands, however, even with the extension: If you want one, get an Evo while you can.

Mitsubishi Outlander PHEV arrives in UK with 'no' price premium

For UK buyers who are interested in a plug-in hybrid SUV, the Mitsubishi Outlander PHEV just got a little bit sweeter. The reason is that the base model of the vehicle will be available with or without a plug for the same price at the base diesel model. "If it's not going to save people money, they won't buy it" - Mitsubishi UK's Lance Bradley According to Cars UK, the price for the Outlander PHEV will be GBP28,249 (about $47,000 US) after a government grant of GBP5,000. In other words, the plug-in SUV actually costs GBP33,249 ($55,000) but thanks to pro-EV regulations, buyers can choose the powertrain they want, not the one they can afford. The managing director of Mitsubishi UK, Lance Bradley, told BusinessCar that it just makes sense to price the two vehicles at the same level. "There are some clever cars in the market but they're all too expensive," he said. "There should be a clear cost benefit because if it's not going to save people money, they won't buy it. The Outlander PHEV has an all-electric range of 32 miles, a top speed of 75 miles per hour in EV mode and a towing capacity of over 3,000 pounds. The SUV invades Britain in May and is scheduled to arrive in the US in 2015. Mitsubishi Motors North America's Melvin Bautista told AutoblogGreen that the UK price equivalence doesn't mean anything for the US, and that the company hasn't even begun the pricing for the vehicle in the US. The way the vehicles are packaged in the UK is also be different than how things work in the US, so we can't read anything into the UK price. Another factor is that, at the time when the PHEV launches in the US, the standard gasoline version will be undergoing a light facelift, which will also be applied to the PHEV model. This isn't the first time an alternative-fuel powertrain vehicle has cost the same as the old-fashioned gas model. The 2013 Lincoln MKZ could be had with a 2.0-liter hybrid or a 2.0-liter turbocharged EcoBoost four-cylinder for the same price.

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.