2008 Mitsubishi Fuso Fe83 on 2040-cars

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Mitsubishi boss confirms new Mirage for US; i EV enduring dismal sales

By March, Mitsubishi expects to have sold just 55,000 cars in the US this fiscal year. That's a tiny sum - by comparison, Honda has sold over 276,000 Civic models thus far this year - and that's just one vehicle, not an entire brand. Mitsubishi president Osamu Masuko recognizes this is not a tenable position, and he's hoping the company will shift 80,000 units next fiscal year. Warding off speculation, Masuko has repeatedly stated that his company will not retreat from the US market like competitor Suzuki.
We reported on one part of Masuko's plan, the updated Outlander, and now he has confirmed that the small Mirage will be sold in the US beginning next September. The cut-price hatchback is selling well enough that Mitsu's Thailand plant is at its full capacity of 150,000 cars. "And even at that level it's not keeping up with orders," Masuko tells Automotive News. Masuko went on to say the plant would be expanded next year to handle an extra 50,000 units. We can also expect the Outlander plug-in early 2014.

Not a dry eye in the house for last Mitsubishi Evo X video

Say what you will about the Mitsubishi Lancer Evolution; we're going to miss this one when it's gone. Japan's rally car for the street is officially being phased out, and production is ending in Japan. But not before one Final Edition, and a final video showing the turbocharged, all-wheel-drive wonder being built. In Japan, the Final Edition is limited to a run of just 1,000 units. It's based on the GSR model with the five-speed manual transmission, but comes with performance goodies like Bilstein shocks, Eibach springs, Recaro seats, Brembo brakes, and more. See it for yourself in the gallery, below. Over the course of 23 years, there have been 10 generations of the Lancer Evolution. And while Evo X might not be our favorite (this author much prefers Evo IX, for what it's worth), it's still sad to see Mitsubishi's iconic, winged sedan head to the grave. A sign of the times, Mitsubishi says the Evo "will be replaced in spirit" by a high-power, hybrid SUV. That's a tall order, and doesn't seem to make a whole lot of sense, but we'll see. For now, say goodbye to the Evo X by watching the final production video, above. And just be thankful Subaru still makes its lovely WRX STI.

PSA shares rise following FCA's breakup with Renault

Shares in Groupe PSA, parent company of automakers Peugeot, Citroen and the DS brand, rose on Thursday as analysts considered the possibility that Fiat Chrysler could turn back to PSA after withdrawing its $35 billion merger offer for Renault. "Both parties have acknowledged the need for scale or [mergers and acquisitions] and may pursue other opportunities. If Nissan was an obstacle (to an FCA-Renault deal) PSA-FCA discussions could resume," wrote brokerage Jefferies. Back in March at the Geneva Motor Show, rumors started swirling that PSA was interested in a potential merger with FCA. Mike Manley, who took over at the helm of Fiat Chrysler following the death of Sergio Marchionne, had indicated a willingness to look into potential partnership options. Of course, that was all before FCA proposed a merger with Renault — with that deal now off the table, attention naturally turns back to PSA, which is also based in France. "We expect both shares to react negatively but see FCA having wider strategic options and Renault shares more downside risk near-term," said Jefferies. According to Reuters, PSA shares were up 1.5% at the time this was published, making it the top-performing stock on France's benchmark CAC-40 Index. Renault saw its shares slump 7%. Shares for FCA fell 3% in early trading on the Milan Stock Exchange. Considering that FCA said in its statement confirming the withdraw of its merger offer with Renault that "political conditions in France do not currently exist for such a combination to proceed successfully," we have to wonder how keen the company is to begin negotiations with another French automaker like PSA. Those thoughts were similarly voiced by Bernstein Research analyst Max Warburton, who said (via Forbes), "Expect PSA to rise on unrealistic hopes it may be FCA's next date." Earnings/Financials Chrysler Fiat Mitsubishi Nissan Citroen Peugeot Renault FCA renault-nissan