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Mitsubishi subcompact sedan coming to US in 2015?

Speaking to some of its dealers recently, Mitsubishi unveiled its plans for a new subcompact sedan offering in the US. Automotive News reports the automaker showed off a rendering of a new subcompact sedan and said the machine will debut sometime in 2015.
The little four-door could be based on the three-cylinder G4 Concept that bowed at the Shanghai Motor Show this year, effectively making it a four-door version of the current five-door Mirage. Mitsubishi dealers are currently starving for new products to entice buyers into showrooms. A redesigned Outlander will show up this summer, long before the teased subcompact sedan. The automaker is also planning to bring out a revised version of the five-door Mirage compact later this year.
Dealers are taking the announcement as a sign that Mitsubishi has finally begun to turn things around. Automotive News spoke with Scott Grove, who owns two Mitsubishi dealerships near Chicago. Grove said he thought the dealer meeting was more positive than it's been in years, and that he believes Mitsubishi is finally on the offensive.

Camaro Z/28 and Mitsubishi Starion meet in this nostalgic vision of '87 Japan

The '80s is just far enough away now that it no longer seems like an era defined by Reagonomics and neon clothing. Filmmaker Matt Clark has embraced the look of the music videos of the decade in his new short film titled Orange Orchid, set in 1987 in Chiba and Yokohama, Japan. The video features some great sports coupes of the time and is set to the song I Know There's Something Going On from Abba-alum Frida (along with drumming and backup vocals from Phil Collins).
Clark really embraces the pop-culture look of the era's videos with big hair, a healthy dash of neon, inexplicable smoky rooms and big, over-wrought movements. However, the real stars for us are the pair of '80s sports coupes that also kind of personify the main characters. Nijo in her denim jacket has a modded Camaro Z/28 with huge, dished wheels sticking way out past the fenders. Naturally, the Chevy also features some great butterscotch paint and a car phone inside. Alex, the guy pursuing her, forgoes any obvious upgrades in favor a clean, all-white Mitsubishi Starion to go along with his tailored suit and giant cell phone.
We wish this video featured the cars a bit more prominently, but that drumbeat from Collins on this forgotten 80s gem is pretty fantastic, too. Give it a listen in the video.

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.