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Mitsubishi scores record global operating profits

In the minds of many auto enthusiasts, Mitsubishi has become an afterthought. It has transformed from a company known for its turbocharged, all-wheel-drive rally machines into an automaker with a very boring lineup. Maybe we are being unfair, though. While the company doesn't have much of a performance presence anymore, the Japanese brand is doing quite well financially.
According to Reuters, Mitsubishi Motors had an operating profit of 123.4 billion yen ($1.2 billion) worldwide for the fiscal year that ended in March. That's twice as much as last year and a new all-time record for the Japanese automaker. It's even paying dividends to investors for the first time in 16 years, and its expected profit of 135 billion yen ($1.3 billion) in the new fiscal year matches a goal it had set for itself to achieve two years from now.
The automaker currently focuses much of its efforts on Southeast Asia, which accounts for about a quarter of its sales. It will put even greater attention there in the coming years with more local production, according to Reuters.

Mitsubishi Attrage brochure reveals additional looks, info

If you're keen to get a closer look at the upcoming Mitsubishi Attrage global sedan, we've got good news for you. A handful of brochure images have made their way to the web courtesy of IndianAutosBlog.com, complete with driveline details. The compact car looks to have its teeth set on taking a chunk out of the Nissan Versa. The Attrage will launch in Thailand with a 1.2-liter three-cylinder engine good for 76 horsepower coupled to either a five-speed manual transmission or a continuously variable transmission. The combination should yield a range of around 570 miles with an 11 gallon tank. We'll save you the math: that's over 50 miles per gallon, though we wouldn't be surprised to see a more powerful, less efficient engine show up on the US-spec model. Buyers can also enjoy snazzy 15-inch alloy wheels.
Expect to find a rearview camera, push-button start, Bluetooth audio and automatic climate control indoors. This information gives us a pretty good idea of what we can expect from the car once it touches down here in the US, though final details - including powertrain - remain likely to change somewhat.

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.