1997 Mitsibishi Eclipse Gsx Dsm Awd Turbo Project No Reserve on 2040-cars

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Toyota, Honda, Nissan and more collaborating to increase fuel efficiency

Toyota, Honda, Mazda, Nissan, Subaru, Mitsubishi, Suzuki and Daihatsu have announced an alliance that will see a push to improve fuel economy from both gas-powered and diesel-powered engines by as much as 30 percent before the end of the decade.
The newly assembled Research Association of Automotive Internal Combustion Engines put the roughly $20-million project together, with the Japanese government committing to half the cost while the eight manufacturers will chip in the rest.
According to Automotive News, the automakers will team up and share basic research on internal-combustion engines in a bid to cut costs. Eventually, the results of the research will find its way into a production vehicle, although it's unclear just when we'll see the fruits of this partnership on the road.

Mitsubishi recalling i-MiEV models for brake problem

Mitsubishi is issuing a recall for the 2010-2014 i-MiEV that affects 1,810 units of the little electric car, because it's possible for the brake vacuum pump to stop working. If this happens, the result would be longer stopping distances, according to the company. The affected models were built between September 15, 2009, and March 25, 2014.
While this is just a single recall, there are actually two things that can cause this brake problem on the i-MiEV, according to Mitsubishi's filing with the National Highway Traffic Safety Administration. First, bad programming in the EV-ECU could cause the system to "falsely judge that the relay contact point is stuck," according to the full NHTSA defect notice PDF. Second, the vacuum pump exhaust hole could be corroded and blocked due to being splashed with road salt. However, the company says that if either fault happens, the brake warning lamp would illuminate, and there would be an audible alarm.
Depending on which issue is affecting an owner's i-MiEV, Mitsubishi is going to reprogram the software, replace the pump or both. Scroll down to read the recall report from NHTSA.

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.