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Mitsubishi Concept GC-PHEV could hint at next-gen Montero [w/video]

In desperate need of some competitive new products, Mitsubishi showed up at the Tokyo Motor Show with three concept vehicles. The most important of them might just be this fullsize Concept GC-PHEV (Grand Cruiser). With its full-time four-wheel-drive system and roughly the right package size, we can only hope it hints at a future design for the Pajero/Montero.
Longer, taller and wider than the current Pajero (which is still offered in other markets), the Concept GC-PHEV is a big SUV with a fuel-efficient plug-in hybrid powertrain. A 335-horsepower, 3.0-liter supercharged V6 and an eight-speed automatic transmission are paired with a 94-hp electric motor and high-capacity battery to provide some serious brawn in a green wrapper. The result is targeted fuel consumption of 15 kilometers/liter on the Japanese cycle (around 35 miles per gallon) to go with an all-electric driving range of more than 25 miles.
Mitsubishi's styling team has arguably done a much better job with this Tokyo trio than we've seen from recent new products like the Outlander and Mirage, possibly suggesting a future design language for the automaker. In true concept car fashion, the design is Concept GC-PHEV is over the top, but it's not hard to imagine a vehicle of this size with similar cues gracing the Mitsubishi lineup at some point in the near future. Likewise, while the concept's interior only seats four, the sheer size of this vehicle could easily allow three rows of seats for a production model.

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.

Mitsubishi reveals mid-term plans including redesigned pickup, SUV and new PHEVs

Struggling automaker Mitsubishi seems adamant that it will soldier on across the globe. Just last week, we told you how the brand would begin selling a pair of rebadged, Korean-built, Renault-Samsung sedans in the US market, and now comes an official statement from Mitsubishi about a mid-term business plan called "New Stage 2016."
As part of the plan, a number of products not sold in the US, like the Triton pickup, Pajero Sport SUV and Delica D:5 will be new or significantly updated, while we'll be seeing a second-generation Outlander Sport within the next few years. Some of these new or updated models may be previewed at the Tokyo Motor Show later this month. There will also be an increased focus on the brand's plug-in hybrid technology.
In fact, that technology will play a big role in Mitsubishi's revitalization, as it rolls out its own competitor to Honda's Earth Dreams and Mazda's Skyactiv technology, called @earth Technology (yes, seriously). It's unclear if @earth Technology will develop into an overarching philosophy like Mazda has done with Skyactiv, but with Mitsubishi pushing so hard with hybrids and EVs - part of its deal for those Renault-Samsung sedans was that it would develop EV tech with Nissan-Renault - if we did see an @earth Technology badge on a car, we'd wager that it'd be powered, to some degree, by electricity.