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Mitsubishi Geoseek Concepts sport new paint, not much else

While the company may be on life support here in the United States, Mitsubishi still sells cars in a great many markets across the globe. That includes Europe, which is probably why Mitsubishi trotted out a pair of concepts at the 2016 Geneva Motor Show. But as you'll see, calling them concepts is generous. Both vehicles are based on actual production models, the L200 pickup and the ASX (Europe's version of the Outlander Sport), and wear the Geoseek name. Both Geoseek cars are production models that have just been fitted with "tough-look added accessories geared toward outdoor enthusiasts." We can't exactly spot what accessories Mitsu is talking about, though. The most obvious changes are to the grilles, which are mesh. Both the L200 and ASX also get a new underbody skid plate in front. Cosmetic changes include the Pearl Gray paint and orange accents. There's also orange trim in the cabin, although Mitsubishi acknowledges that the interior is mostly black. The L200 does get a rather nifty looking roof rack with integrated lights and handles, while the ASX gets LED fog lights. So yeah, these might be called concepts, but there's really not a lot going on besides the paint and the roof rack on the L200. Still, you can check out both cars at the top of the page. Related Video: Featured Gallery Mitsubishi ASX Geoseek Concept: Geneva 2016 View 10 Photos Related Gallery Mitsubishi L200 Geoseek Concept: Geneva 2016 View 9 Photos Image Credit: Live photos copyright 2016 Drew Phillips / AOL Geneva Motor Show Mitsubishi Truck Crossover Economy Cars 2016 geneva motor show mitsubishi asx mitsubishi l200

Japanese automakers kick in $800k for new charging-station company

Cynics may say that gathering $800,000 (total) from four of Japan's largest automakers is merely a rounding error. Still, Toyota, Nissan, Honda and Mitsubishi, along with the Development Bank of Japan, are putting those funds to good use. So, that's something. Last week, those five entities officially founded Nippon Charge Service LLC. The company was established to promote plug-in vehicle charging installations across Japan and the automakers seeded it with 80 million yen, or about $786,000 US. Those funds will be used to help business owners deploy charging stations at convenience stores, highway-side locales and other locations that will make it easier for plug-in vehicle drivers (of Toyotas, Hondas, Mitsubishis and Nissans, obviously) to get their juice. The automakers first announced they'd collaborate last year, when they said they'd work with the Japanese government to more than triple the country's publicly accessible chargers to about 17,000 units. No targets were disclosed as far as how many charging stations would be deployed this time out, but, in a move similar to the EZ Charge system in the US, Nippon Charge Service will also have universally-accepted charging cards available by the end of the year to drivers all of those brands' plug-in vehicles to make the charging process a little more seamless. Check out Honda's press release below. Japan Automakers Advance Electric Charging Infrastructure with New Company, Nippon Charge Service -Established to help build charging infrastructure for electric-powered vehicles (PHVs, PHEVs and EVs)- Toyota Motor Corporation Nissan Motor Co., Ltd. Honda Motor Co., Ltd. Mitsubishi Motors Corporation Development Bank of Japan Inc. TOKYO, Japan, May 30, 2014 - Toyota Motor Corporation, Nissan Motor Co., Ltd., Honda Motor Co., Ltd., and Mitsubishi Motors Corporation jointly established a new company, Nippon Charge Service, LLC, on May 26 to promote the installation of chargers for electric-powered vehicles (PHVs, PHEVs, EVs). The goal is to help build a charging network that offers more convenience to drivers in Japan. The new company will promote the installation of chargers, for the good of society and to expand the use of electric-powered vehicles. Related industries are also expected to benefit. Development Bank of Japan Inc.

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.