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In recent years, sales of Mitsubishi vehicles have been on a global decline. Some feared that this Japanese automaker could one day be forced to close its doors for good, if demand does not increase.
In recent years, Mitsubishi has been given a lifeline by the PSA group, which owns Peugeot and Citroen. Both of these French companies have made their own versions of the Mitsubishi i-MiEV and the Outlander SUV.
Now is the turn of the Outlander Sport to put on some new clothes. For 2012, buyers in Europe will be able to pick up a Peugeot 4008 (pictured) or a Citroen C4 Aircross. Both these French models are identical to the Mitsubishi under the skin, but the skin is radically different, and also quite attractive.
Hopefully this continued partnership with the French will keep Mitsubishi afloat for a long time, so it can work on bringing us the next Evo model.
[Source: Car and Driver]
Gallery: Mitsubishi Outlander
On of the world’s top car sharing companies, Zipcar, is planning to make an initial public offering. It recently amended its Securities and Exchange Commission filing, and is now seeking about $89.2 million from sale of 8.3 million shares at around $14-16 each.
The company has been in business since 1999 with regional service for its by-the-hour hybrid rentals. Zipcar has been making money, but also plagued by expenses keeping it from being an outright success story.
Nevertheless, it is moving forward to sell 6.6 million shares with stockholders selling an additional 1.6 million. The deal is being underwritten by Goldman Sachs and Co. and JPMorgan.
The company is expected to be listed on the NASDAQ exchange under “ZIP.” This is essentially what the company netted after losses in 2009, when the green company reported being $4.7 million in the red.
It has garnered 400,000 paying customers in the decade since opening. Some of its IPO will go toward repayment of debt.