2002 Mitsubishi Montero Sport 4x4 on 2040-cars

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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.

Mitsubishi CEO vows to stay in US on heels of Suzuki's departure

By now, you're surely aware that Suzuki is pulling out of the US market. It was a bit of a foregone conclusion to most who've been paying attention to the automotive realm, but it still sent a small shockwave through the industry. And one of the most oft-heard retorts goes something like this: "Next up: Mitsubishi."
It's easy to understand why many question Mitsubishi's existence in the States. After all, now that Suzuki is gone, Mitsubishi is the Japanese automaker with the fewest sales in America. Furthermore, the automaker's market share has dropped from .7 percent to just .4 percent after seeing sales fall 29 percent to 50,103 units through October.
In any case, Mitsubishi fans needn't worry. Speaking to Automotive News, Mitsubishi President Osamu Masuko said, "We have no intention whatsoever of withdrawing from the US market." That's about as clear as clear can get. It's also worth mentioning that Gayu Uesugi was just named chairman of Mitsubishi Motors North America, and his main responsibility will be to revitalize the brand in the US.

2014 Mitsubishi Mirage to carry $12,995 price tag*

If you've only got about twelve grand to spend on a car and you want something new, you've got options, but not many: You can get a Nissan Versa sedan for $11,900, a base Chevrolet Spark hatchback for $12,170, or - as Mitsubishi has just announced - a 2014 Mirage for $12,995.
Not only does that make it one of the cheapest new cars you can buy, but Mitsubishi also claims it's "the most fuel-efficient gasoline-powered non-hybrid vehicle in America," carrying an EPA highway fuel economy rating of 44 miles per gallon. But then that rating is for the CVT model, which will cost you an extra grand over the base five-speed manual version. The bog-standard DE model comes with features including automatic climate control, keyless entry and seven airbags, but for another $1,200 (with either transmission) you can upgrade to ES trim with a whole mess of other features. Regardless of which model you choose, though, you'll have to pay an extra *$725 for delivery ($920 if you live in Alaska or Hawaii), elevating the actual cost of entry to $13,720 in the Lower 48.