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Mitsubishi Mirage G4 sedan debuting in Montreal

Around this same time last year, Mitsubishi used the Montreal Auto Show for the North American introduction of its 2014 Mirage. This year, the Japanese automaker will reveal the sedan version of the subcompact wearing the Mirage G4 nameplate, according to the auto show's website and a couple of fresh teaser images.
We got our first look at this Mirage sedan as previewed by the Concept G4 at the 2013 Shanghai Motor Show, and the production version of that sedan ended up wearing the Attrage name in Thailand and other global markets. There's no official information from Mitsubishi at this time about the Mirage G4, but we wouldn't be surprised to see the small sedan follow the same path as the hatchback, showing up for a US debut at the New York Auto Show before going on sale in the fall. Check out the teaser images in the gallery below.

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.

Japanese government chides Mitsubishi over recall delays

An official with the transport ministry in Japan has some stern words for Mitsubishi, taking the carmaker to task for not being more proactive and honest about its recalls. An investigation into The Tri-Star last December found Mitsubishi was tardy investigating problems and didn't explain itself forthrightly to the transport ministry about the issues. None of Mitsubishi's actions were illegal, and we should stress that this is a dialogue with Mitsubishi in Japan, not Mitsubishi Motors North America.
The official advised the automaker to, "Come up with plans for improvement, implement them and report them to the ministry." It looks like the company will get more practice than it wants in that department, having to announce another recall for the Outlander PHEV over software and hardware glitches. Those recalls come just after Mitsu finally figured out the problem with overheating lithium-ion batteries that caused a production halt of the plug-in hybrid SUV.