2002 Mitsubishi Montero Xls Sport Utility 4-door 3.5l on 2040-cars

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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.

Mitsubishi AR Concept continues a wacky, wonderful tradition [w/video]

Mitsubishi enjoys a long history of thinking outside the literal box when it comes to designing minivans and people movers. Remember the Mitsubishi Van, a.k.a. Delica? How about the Chariot, better known to us as the Colt Vista? The Expo and Expo LRV, the twin models that succeeded it? These were all left-of-center takes on the MPV genre, and while they never sold in large volumes, we can't help but look back at them with a mix of bemusement and respect for their oddball character. Who knows? A production version of this AR Concept could be next.
According to Mitsubishi, "the comfort of a minivan and active personality of an SUV are merged at the highest levels" in the Concept AR. Us? We just think this mild hybrid concept looks kind of neat, even if it's just putting on off-road airs with its elevated ride hight, faux skid plates and black-lipped wheel wells.
Hardware-wise, this Active Runabout is less showcar and more 'real world,' with the front wheels drawing their power from a 134-horsepower, 1.1-liter turbocharged three-cylinder engine paired with a 10-kW electric motor used as a belt starter generator (read: mild hybrid). A continuously variable transmission handles shifting duties.

2014 Pikes Peak Hill Climb: Practice Day 3

Greg Tracy's MiEV Evolution III topped the time sheets almost 14 seconds ahead of third-place Monster Tajima.
On Thursday, qualifying times for six categories were set on the bottom-section switchbacks of Pikes Peak: Electric Modified - near-unlimited showcases of electric-vehicle engineering; Electric Production - electric vehicles "readily available to the public;" Open Wheel - single engine, open wheeled, open cockpit, single seat vehicles; Open - based upon a production or approved-aftermarket-replica vehicle; Exhibition - a prototype or pre-production vehicle limited to one year of eligibility in this class; and Vintage - vehicles and drivelines from 1990 or earlier.