Business Update May 6, 2011
High Gas Prices Could Drive Americans to Public Transit
A new survey indicates that many American motorists think rising gas costs ultimately will limit their ability to drive.
63
percent of the American drivers surveyed in the America THINKS survey
from HNTB Corporation think that gas will get so pricey that they won't
be able to drive their car as often as they do now. In fact, 22 percent
say they are extremely confident this will happen.
With
gas prices currently averaging $3.96 per gallon nationally, a cut-off
point may be quickly approaching when millions more Americans will fill
up local buses and trains instead of their tanks. On average, a price of
$4.90 per gallon would push Americans who say they are willing to use
public transit to climb on board.
Rising
gas prices were cited as the No. 1 reason Americans with public
transportation in the area would ride rather than drive (42 percent).
This reason was much higher than other potentially motivating factors,
including convenience (14 percent) and the environment (6 percent). A
recent study by the American Public Transportation Association revealed
if regular gas prices reach $4 a gallon across the nation, an additional
670 million passenger trips could be expected to take place on the
nation's transit systems. If pump prices rise to $5 a gallon an
additional 1.5 billion passenger trips can be expected, totaling more
than 11.6 billion trips per year. Many transit systems already are
experiencing increased ridership.
HNTB's
America THINKS transit survey polled a random nationwide sample of
1,000 Americans March 23-31, 2011. The margin of error is +/- 3.1
percent. HNTB Corporation is an infrastructure firm serving federal,
state, municipal, military and private clients.
RECENT REVIEWS OF OUR VEHICLES
Outlander Sport Review
Left Lane News (4/29/2011)
"Among
the breakthroughs for the Mitsubishi Outlander Sport start with the
price....it is a pretty darn complete package on paper for our tester's
low base price."
"The seats
throughout were covered with a black knit material that appears to wear
well from our brief exposure to it. They proved very supportive during
our day trips."
"The redundant
controls and alloy paddle shift levers were a welcome touch on the
steering wheel when trying to get out of our own way."
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Business Update April 28, 2011
MMC Announces Fiscal Year 2010 Full-year Results
Yesterday, MMC announced its full-year sales and financial results for the 2010 fiscal year ending March 31, 2011.
Mitsubishi
Motors posted a consolidated net sales of 1 trillion 828.5 billion yen
($22.44 billion) for fiscal year 2010, a 26 percent increase over the
previous fiscal year. This increase was driven by a higher unit sales
volume resulting mainly from market growth in emerging markets and from
the introduction of new models. MMC posted an operating profit of 40.3
billion yen ($ 500 million), a 189 percent increase over the last fiscal
year. The increase in unit sales volume together with factors such as
reductions in material and other costs more than offset the negative
impact of the strong yen.
Mitsubishi
Motors posted an ordinary profit of 38.9 billion yen ($480 million), a
200 percent increase, and a net profit of 15.6 billion yen ($190
million), a 228 percent increase over the previous fiscal year.
Global
retail sales volume in fiscal year 2010 totaled 1,105,000 vehicles, an
increase of 15 percent or 145,000 units over fiscal year 2009.
In
North America, Mitsubishi Motors posted a sales volume of 94,000
vehicles, an increase of seven percent or 6,000 units over the previous
fiscal year. MMC reported that slow sales in Canada and Mexico were
offset by higher sales in the United States, where overall demand showed
signs of recovery, along with a boost from the launch of the Outlander
Sport in October.
In
Japan, Mitsubishi Motors sales decreased four percent due to drop in
demand following the ending of eco-car subsidies in September 2010
coupled with some effects from the Great East Japan Earthquake. In
Europe, sales volume was up 29 percent and in Asia & Other Regions,
sales were up 18 percent.
MMC
is unable to provide its usual forecasts for fiscal year 2011 at the
present time due to uncertainties stemming from external factors,
including determining how long it will take earthquake-affected parts
and component suppliers to return to a stable production basis.
Mitsubishi Motors will publish its fiscal year 2011 forecasts as soon as
it becomes possible to do so.
Hawaii Selected for U.S. Launch of Electric i Sales
MMNA
has selected Hawaii to be the first state to receive the 100%
electric-powered Mitsubishi i production vehicle beginning in November
of this year.
With a
Manufacturer's Suggested Retail Price of $27,990 for the base ES model,
Hawaiian citizens can take advantage of their tropical state's clean
energy rebate of $4,500 toward the purchase of the Mitsubishi i along
with a federal tax credit of $7,500 (subject to availability of
funding), reducing the EV's out-of-pocket cost to under $16,000 after
rebates and credits.
"We
thank Mitsubishi Motors for choosing Hawaii as one of the first states
to receive the new "i" electric car. Electric vehicles use a fraction
of the fuel needed by traditional cars, so each EV on the road means
we're reducing our dependence on imported oil and increasing our ability
to reach Hawaii's goal of 70 percent clean energy within a generation,"
said Estrella Seese, Acting Energy Program Administrator, Hawaii State
Energy Office.
The Mitsubishi i will be available for licensed drivers to test drive at Cutter Mitsubishi in Aiea, Hawaii later this fall.
Deliveries
of the spacious and energy efficient 5-door 2012 Mitsubishi i to
dealers in the western United States (specifically Hawaii, California,
Oregon, and Washington) are expected to begin in November 2011, with
entry into the northeastern market to follow by March 2012 and
nationwide availability by the end of 2012.
RECENT REVIEWS OF OUR VEHICLES
Outlander Sport Review
Washington Times 4/23/2011
"Here you will find a good thing since the cost of the Outlander Sport is much less than its competition."
"Braking
comes in with high marks on this one and the standard airbags include
front side, front and rear side curtain and driverside knee airbags."
"This
Mitsubishi Outlander Sport does have a nice package inside and one can
expect comfort on long drives since the front seats contour nicely with
plenty of legroom room as well as head room for taller drivers and
passengers."
"Depending on your
reason for buying a new vehicle and whether you really need the earth
shattering power, the 2011 Mitsubishi Outlander Sport might be perfect
for you. Especially if you are looking for an affordable vehicle that
still offers the perfect creature comforts."
"The standard Fuse voice-activation system is a real bonus on this one."
"We found this newbie a quiet ride and it does look good even at an affordable price tag."
Lancer Ralliart Review
Ridelust 4/26/2011
"I give Mitsubishi a big thumbs up on the exterior styling, which is aggressive without screaming 'boy racer'."
"Even a five-hour stint behind the wheel wasn't tiring, so your daily commute in a Lancer Ralliart would be plenty comfortable."
"The
Lancer gives you a surprising amount of rear seat leg and head room for
a compact car, so even six-foot-tall friends won't complain too much
about not getting shotgun."
"Your
only transmission choice is Mitsubishi's superb Sportronic dual-clutch
gearbox, which can be shifted via the lever or via steering column
mounted paddle shifters."
"The car
stays planted no matter how hard you get on the throttle, and the
Lancer Ralliart is capable of a sub six-second zero to sixty sprint."
"I
had the chance to drive the Lancer Ralliart at speed in some fairly
heinous rainstorms. I never noticed any compromise in traction, and the
car was completely willing to go as fast as I wanted."
"Ordinarily,
I'd say that a manual transmission option would be nice, but
Mitsubishi's Sportronic transmission is so good that you really won't
miss it."
"As optioned, my Lancer
Ralliart tester had a sticker price of $31,355, including a destination
charge of $760 and the $3,100 Ralliart Touring Package....By comparison,
a similarly equipped Subaru WRX Limited would sticker at $30,462, but
that lacks the dual-clutch gearbox of the Lancer Ralliart. Ford's AWD
Fusion Sport with the 3.5-liter V-6 would sticker at $31,195 in similar
trim, but it's not going to be as quick or nimble as the Lancer
Ralliart."
"In the end it comes
down to this: if how your ride goes, stops and handles is more important
than luxury or amenities, the Lancer Ralliart needs to be on your short
list."
"Thumbs Up: One seriously quick grocery getter."
"Buy This Car If: You want a truly entertaining small sedan daily driver."
"This
car is seriously quick, with a rock-solid chassis capable of taking all
you're willing to dish out. It's not an Evo, but it is a more
attractively priced, more comfortable sedan that's a better real-world
choice for your daily commute."
"Roll up in a Lancer Ralliart, and you're pretty much guaranteed to get their attention."
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Business Update March 24, 2011
J.D. Power Forecasts March Bump of Nine Percent
In
its monthly report, J.D Power and Associates said today that March auto
sales in the U.S. should increase from last year despite rising
gasoline prices and inventory issues caused by the earthquake in Japan.
U.S. light-vehicle sales in March are expected to top 1.2 million units, up 9 percent from March 2010, J.D. Power said.
To
make its forecast, J.D. Power examines transactions at 8,900 U.S.
retail franchises during the first 17 selling days of the month.
The
report says the Japan disaster's effect on production may linger into
April and May, but for now "our 2011 production forecast remains at 12.9
million units, as we expect any lost volume would be made up later in
the year."
RECENT REVIEWS OF OUR VEHICLES
Lancer Sportback Ralliart Reviews
Gear Diary 3/15/2011
"The
brand is still nowhere near the top of the U.S. sales charts each month
but they do offer competitive vehicles worth giving some attention to,
especially when cross-shopping other import brands."
"Personally
I found this latest Lancer Ralliart to be the perfect blend for daily
use. My fillings remain intact after driving over streets not yet
repaired from the winter abuse yet my endorphins wholeheartedly endorse
the vehicle when I find a bend in the road."
"This car is a blast to drive every day. The seats are supportive and comfortable without being rude."
Associated Press 3/19/2011 widely syndicated, Boston Sun 2/18/2011
"The
2011 Mitsubishi Lancer Sportback Ralliart is a turbocharged, sporty
hatchback that's tantalizingly close to a bad boy racer."
"Just
a push on the accelerator pedal brings this hot performance hatchback
to life as the race-car-derived engine noisily delivers 237 horsepower
and 253 foot-pounds of torque. Thank goodness it comes standard with
all-wheel drive."
"The 2011 Lancer
Sportback Ralliart, with race-car components, is a unique experience
and continues to attract many youthful auto enthusiasts."
"The
test Lancer Sportback Ralliart attracted attention with its unabashedly
bold appearance. Young people especially noticed this car, which was
painted a bright Octane Blue color that almost seemed to glow."
"Engine
power came on quickly, with little turbo lag. I zoomed forward to merge
into city traffic and passed other cars easily on two-lane, country
roads."
"The all-wheel drive
system worked well on dry and wet pavement. Note it's called All-Wheel
Control and is derived from the system on Mitsubishi's rally race cars."
"I
appreciated the wide cargo area at the back, though tall items can be
problematic. And rear seatbacks fold down to provide more room."
Outlander Sport Reviews
AutoWeek 3/17/2011
"Though
the vehicle's tallish stance means handling could hardly be considered
sporty, the five-speed manual does give it a fun factor and gets the
most out of the 2.0-liter four-cylinder. The ride isn't too rough or
noisy and the car seems to go where it's pointed. Credit the underlying
Lancer chassis, which imbues some goodness into everything Mitsubishi
makes."
"A night in the Outlander
Sport prompted me to think about how the small-crossover segment has
become quite crowded. And in that segment, the Outlander Sport has a
solid hold on the value niche."
"There's
a decent amount of legroom for second-row passengers, even with the
front seats pushed back. And the cargo area could handle a Costco run
with ease."
"The last thing I did
was look at the sticker price. I had steeled myself for a bottom line
that was about $3,000 more than what I found. So that's a pleasant
surprise. If I was Mitsubishi, I'd make a big deal about the price."
Automotive Addicts 3/23/2011
"With
its taut, muscular sheetmetal, the Outlander Sport is visually a breed
apart from the rest of its compact crossover competition."
"The
lower air-intake features foglamps and a chrome lip in the middle that
adds a dash of spice to an otherwise very boring segment. The chiseled
bodywork is not merely an aesthetic exercise-its smooth, flowing lines,
tall beltline, and rear spoiler all combine to give this stylish new
model one of the lowest coefficient of drag, 0.33, of any compact
crossover it its class."
"....great stability when driving straight-ahead at high speeds and when cornering."
"Be
it a quick drive to the grocery store or a long interstate trip, both
you and your passengers of the Outlander Sport are treated to a refined
ride in comfortable surroundings and with a host of welcome features-all
of which are made more impressive when considering this handsome and
capable AWD crossover's low base price of just $22,995.00."
"On
the open road the suspension offers a satisfying solid ride character
that feels like that of a high-dollar luxury sedan while the electric
power steering communicates excellent feedback from the road with a
great on-center feel with quick reaction to your inputs."
"The
fabric seats are comfortable for all-especially the front seats as they
feature good torso and thigh support-while there is ample headroom for
even taller (6ft.) driver and front passenger."
"The
all-new 2011 Mitsubishi Outlander Sport SE AWD doesn't skip a beat at
leading the new compact crossover utility vehicle segment with bold good
looks, plenty of power, performance, interior room and amenities plus
the latest in safety system for you and your passengers."
Eclipse Review
Free Online Mechanic 3/14/2011
"For
those who want the look of a sports vehicle but don't necessarily need a
speed demon there is the 2011 Mitsubishi Eclipse. What makes this auto
stand out from the rest is its sleek, contemporary and ultra sporty
design and comfortable drive. It's perfect for the person who wants to
drive around in an athletic and fast-looking car but who doesn't
necessarily have a need for intense speed."
"Take a look inside and you'll find an interior that is comfortable and well designed."
"Safety
has been thoroughly addressed with the inclusion of seatbelts with
pretensioners and a reinforced chassis. Parents will be pleased to know
that the Latch system is intact which makes it a cinch to secure your
child in the safety seat."
"If you
want the look of a sporty car but don't want to spend a fortune then
the Eclipse would be one choice to look into. Not only is it pretty
stylish, it's also rather reasonably priced."
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