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Mitsubishi Outlander, Evo to keep things safe at Pikes Peak

Mitsubishi has already announced that it will be returning as a competitor to the Pikes Peak International Hill Climb with a pair of all-electric MiEV Evolution II racecars. In addition to these entrants, the automaker will also be the presenting sponsor of the race as well as providing the official safety vehicles to the event using specially prepped versions of the 2014 Outlander and Lancer Evolution.
While it isn't clear what exactly will be demanded of the safety vehicles, this isn't going to your run-of-the-mill pace car duty. To get the Outlander and Evo ready for the 156-turn, 12.42-mile course, Mitsubishi teamed up with companies such as BBS, Cobb Tuning, AEM and Muellerized Suspension Systems as well as DC Sports and Kenwood to create these one-off safety cars. These vehicles, and all the racecars, will be at Pikes Peak later this month for the 91st running of America's second-oldest racing event. Scroll down for the official press release.

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.

2014 Mitsubishi Outlander earns Top Safety Pick+ award [w/video]

The Mitsubishi Outlander officially is a safe vehicle, earning a good rating in all of the Insurance Institute for Highway Safety crash test categories - good enough for the agency to give it the Top Safety Pick+ award. The small sport utility vehicle's little sibling, the Outlander Sport, received the Top Safety Pick award earlier this year.
According to the IIHS, to earn the Top Safety Pick+ rating vehicles must be rated good in at least four out of the five crash tests (including the difficult small overlap front test) and earn no less than acceptable in the rear crash test. The Top Safety Pick rating requires that vehicles be rated good in the moderate overlap front, side, rollover and rear tests, but there's no minimum rating on the small overlap front crash test.
Mitsubishi designed the Outlander to have greater roof strength (the roof now can support up to five times the SUV's weight) and to withstand the moderate overlap front crash test and the recently introduced small overlap front crash test, both of which evaluate the ability of vehicles to protect their occupants in crashes that bypass the traditional front crumple zone. Crumple zones are designed into vehicles to allow them to deform in a way that protects passengers in the event of a crash. The Outlander was one of two small SUVs to earn a good rating in the small overlap test, the other being the 2014 Subaru Forester. The Subaru earned a Top Safety Pick rating.