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2015 Mitsubishi Outlander Sport recalled for leaky transmission

The Basics: Mitsubishi Motors is recalling 45,731 Outlander Sport crossovers from model year 2015. Built between June 25, 2014 and November 25, 2015, the affected vehicles use the base 2.0-liter four-cylinder engine and continuously variable transmissions. The Problem: A clamp on the CVT hose may have been installed incorrectly. If the hose comes off, transmission fluid can leak out. While the transmission will start acting up – and eventually grind to a halt – the bigger concern is what happens if the transmission fluid comes into contact with hot surfaces: fire. Injuries/Deaths: Thankfully, it doesn't sound any owners have crashed, caught fire, or been injured or killed due to loss of transmission fluid. Mitsubishi didn't list injuries or fatalities in its recall paperwork with NHTSA, but the chronology only describes "warranty claims," which sounds like the vehicles never caught fire. The Fix: Dealers will inspect the hose clamps on all 45,000 Outlander Sports and reinstall them if there's a problem. Repairs are free of charge. If you own one: Since NHTSA's bulletin doesn't advise owners on whether they should or shouldn't drive their vehicles, we recommend looking for leaks and checking your transmission fluid level as soon as possible. If it's low or leaking, you probably shouldn't drive. Featured Gallery 2015 Mitsubishi Outlander Sport View 9 Photos News Source: NHTSAImage Credit: Mitsubishi Recalls Mitsubishi Crossover Economy Cars

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.

2014 Mitsubishi Mirage arrives in US this fall

Mitsubishi dealers have been painfully starved of fresh product for ages now, with their most recent new model, the bubble-shaped i electric car, already requiring a serious sales jumpstart. We've known for a while that help is on the way in the form of an all-new Outlander crossover, but we've basically only had loose confirmations to go on that the Japanese automaker would eventually reintroduce its Mirage subcompact to the American market. Today, those rumors have turned to reality, as Mitsubishi has confirmed that the five-door economy car will hit US dealerships this fall.
Every subcompact player needs a trump suit, from Ford's tech-rich Fiesta to Honda's impossibly space-efficient Fit, and the Mirage's calling card figures to be its fuel economy. Mitsubishi says it expects its 2014 Mirage to achieve 37 miles per gallon in the city and 44 on the highway (combined rating of 40 mpg) when equipped with a continuously variable transmission. Those figures are good enough, Mitsu says, to earn it the title of the most fuel-efficient gasoline vehicle sold in America that isn't a hybrid.
Of course, Mitsubishi isn't outlining any additional specs at the moment - not even engine configuration. We're expecting the company's 1.2-liter three-cylinder, which in European spec delivers a modest 79 horsepower and 78 pound-feet of torque. The Continent's Mirage weighs under 1,900 pounds, but the normally aspirated triple still makes for leisurely acceleration of 11.7 seconds to 62 miles per hour. It will be interesting to see if Mitsubishi makes some powertrain alterations to better suit American expectations.