2012 Mitsubishi Eclipse Gs on 2040-cars

Auto blog

Mitsubishi and Renault-Nissan expand partnership, US will get new sedan

Mitsubishi and Renault-Nissan have just inked an alliance that might, hopefully, reverse the ailing fortunes of the Mitsubishi brand in the US market. The big chunk of news is that Mitsubishi will produce two Renualt-based models for sale in the US market, and that they'll be built at the Renault-Samsung factory in Busan, South Korea.
The plans call for a D-segment sedan to be followed by a C-segment offering. Based on the cars built at the Busan factory, that means Mitsubishi will be getting the SM5 and the SM3, a pair of handsome sedans that are based on Renault-Nissan's D and C platforms, respectively. These same platforms underpin a number of US market Nissans (not to mention a number of cars from Renault), namely the Pathfinder, Maxima, Quest and Murano for the D platform and the last-generation Rogue and Sentra for the C platform.
Besides the sedan production, Nissan and Mitsubishi will be expanding their joint-venture company, NMKV, which produces Kei cars for the Japanese market. A new, all-electric offering will be born from the partnership, likely based on a Kei car platform. The partnership between the three brands will also lead to increased sharing of technology, particularly relating to electric cars.

Say Hello to the Kitty edition Mitsubishi Mirage

Japan is the country that gave us the GT-R, the LFA and the STI. But it's also the home of Hello Kitty. We try our best to ignore the commonality, but now Mitsubishi is putting it right in our faces with the new Hello Kitty edition Mirage.
Decked out in pink, the special Mirage arrives on the occasion of the character's 40th anniversary. It comes decked out with Hello Kitty decals on the outside, special hubcaps and unique upholstery. It's even got a Hello Kitty pillow inside, for crying out loud.
Fortunately, only 400 examples will be made, hopefully only for domestic consumption, wearing a sticker price of 116,970 yen (equivalent to about $12k). Now we wish we could say this was a first, but sadly it's not - not even for Mitsubishi.

Mitsubishi hopes to raise $2.5B with stock sale

Mitsubishi, which dates all the way back to 1870, is one of the oldest business collectives in Japan. Today, the various businesses that share the Mitsubishi name are largely independent of each other. The automotive unit, however, has fallen on hard times over the past few years.
Back in 2004 and 2005, Mitsubishi Motors sold billions of preferred shares to sister companies like Mitsubishi UFJ Financial Group, Mitsubishi Heavy Industries and Mitsubishi Corp. Now the automaker is preparing to buy back those shares, only to raise the capital, it's selling $2.5 billion worth of shares, simultaneously paying stock dividends for the first time in over 16 years.
The stock issue will reportedly include as many as 241 million shares at a value of $10.73 each. The move is part of a long-term reorganization being implemented by the automaker's president Osamu Masuko, and is expected to help the company double its net income and eliminate all outstanding preferred shares by the end of the fiscal year closing in March.