Latest news with #MarkChaffin
Miami Herald
08-05-2025
- Automotive
- Miami Herald
Mitsubishi Announces EV Comeback Supported by Nissan
Japanese automaker Mitsubishi announced in a press release on May 7 that it will launch a new electric vehicle in the United States and Canada in summer 2026. The automaker says that its re-entry into EVs is a joint effort with its alliance partner Nissan, as it fills the hole left by the i-MIEV in 2017. "The addition of this new battery-electric vehicle to our lineup will deliver a blend of internal combustion engines, plug-in hybrids, and electric vehicles, so that our customers have the choice of technology that best suits their needs," Mitsubishi Motors North America President and CEO Mark Chaffin said. Exact details about Mitsubishi's new EV are scarce, but it's confirmed that it will share the underpinnings of the next-generation Nissan Leaf, which itself is due to arrive later this year. Mitsubishi says that the still-to-be-named EV will be sold alongside the Outlander Plug-in Hybrid and the rest of its crossover-centric lineup, which also includes the Outlander Sport and Eclipse Cross. Nissan introduced the 2026 Leaf in March as part of a larger announcement that included several new and refreshed models across its lineup. The automaker is said to have "reimagined" the third generation of the Leaf as a "sleek and spacious family-friendly crossover," as it shares the modular CMF-EV platform that underpins the larger Ariya. In addition to increased range and improved aerodynamics, Nissan says the new Leaf will also feature an integrated NACS charging port, which will allow it to connect to the Tesla Supercharging network of EV fast chargers. Mitsubishi Motors North America President and CEO Mark Chaffin noted that the announcement of this new EV is the next step in its North American "Momentum 2030" business plan, which aims to launch "a new or significantly revised vehicle every year between 2026 and 2030." "Today's announcement is the first of many to come that reinforce our commitment to the U.S. market, to providing the best vehicles we can for our customers, and ensuring a long and healthy future for our company in the U.S. and globally," he said. "Momentum 2030 is more than a business plan; it is a rallying cry for our company, for our employees, for our dealer partners, and for our loyal and new customers. Our plan is clear, our path is mapped out." Mitsubishi's announcement comes as the automaker reported solid Q1 2025 sales. Last quarter, the automaker sold 31,637 vehicles in North America, an 11% increase compared to the same period in 2024. Despite this, the situation at Mitsubishi dealers tells otherwise. According to financial data seen by Automotive News, Mitsubishi dealers are struggling to make a profit. The average net profit at Mitsubishi dealerships dramatically dipped by nearly half from levels seen in 2020, averaging just $434,199 last year. Additionally, average dealership net profit as a percentage of sales slipped from 2.2% in 2023 to just 0.92% in 2024. In this environment, where only about 66,000 new Mitsubishis rolled out of dealers last year (an average of about 17 new Mitsubishis sold every month at one dealer), dealers are mixed about what the new EV could do for them. In a statement to Automotive News, an unnamed Mitsubishi dealer welcomed the lineup expansion, but the lack of details prevented them from fully backing the idea, citing the need for affordable vehicles. "If we get an EV that's $40,000-plus, that won't work," they told AutoNews. "We need affordable vehicles. That's where the market is." I honestly agree with the dealer that Mitsubishi needs to make this new Leaf-based EV a very compelling package for under $40,000, as the limbo game of affordability is having an effect on potential car buyers. It should also be noted that Mitsubishi has not announced an end to its holding of imported vehicles at the port. Nearly every model in the Mitsubishi portfolio is built in Japan; however, US-market versions of Nissan's current iteration of the Leaf are built in Smyrna, Tennessee, using components made in Japan. We will have to wait for further information about range, power, and most importantly, pricing, for both the unnamed Mitsubishi EV and the Nissan Leaf. Copyright 2025 The Arena Group, Inc. All Rights Reserved.
The Verge
07-05-2025
- Automotive
- The Verge
Mitsubishi's next EV is based on the upcoming Nissan Leaf coming in 2026
Mitsubishi will launch a new electric vehicle in North America next summer that's based on Nissan's upcoming third-generation Leaf. The new EV, which will be Mitsubishi's second-ever in the US after the pioneering i-MiEV, is part of the company's 'Momentum 2030' growth plan where it will launch 'a new or significantly revised vehicle every year between 2026 and 2030.' Mitsubishi hasn't yet given a name to its EV or provided any other technical details, including its expected EPA-estimated range. Like the new Leaf, it will use the CMF-EV platform that also underpins the Ariya SUV and is rated for up to 304 miles on a single charge. In a press release, Mitsubishi Motors North America CEO Mark Chaffin said the company is on an 'upward trajectory,' especially in the US. Mitsubishi reported an 11 percent increase of sales year over year in Q1 2025, led by its Outlander SUV that also comes in a plug-in hybrid version. Chaffin says Mitsubishi's new EV will be part of a fresh lineup that includes a blend of internal combustion, plug-in hybrids, and electric vehicles that give customers 'the choice of technology that best suits their needs.' Mitsubishi has not yet announced where the new EV will be built. The company once had a plant in Normal, Illinois, which is now owned and operated by Rivian. In order to avoid heavy tariffs imposed by the Trump administration (currently set at 25 percent on cars and trucks from Japan), Mitsubishi may need to figure out a domestic manufacturing plan soon.
Yahoo
07-05-2025
- Automotive
- Yahoo
Mitsubishi Motors Confirms All-new Battery-electric Vehicle Will Be Sold in North America Starting Summer 2026
This BEV model represents a huge step in the Company's recently announced Momentum 2030 product strategy for the U.S. market The new BEV will be sold alongside the Outlander Plug-in Hybrid, the world's first plug-in hybrid SUV 1 The new BEV will be sourced from Mitsubishi Motors' Alliance partner, Nissan Motor Co., Ltd., and based on the next-generation Nissan LEAF Announcement reinforces strength of the Momentum 2030 long-term North American business plan FRANKLIN, Tenn., May 7, 2025 /PRNewswire/ -- Mitsubishi Motors North America, Inc. (MMNA) today confirmed the next step in the brand's march toward its North American business plan, dubbed Momentum 2030. Among other commitments, the plan promised the launch of "a new or significantly revised vehicle every year between 2026 and 2030." That promise has already started with the recent debut of the new 2025 Outlander SUV. Mitsubishi Motors Momentum 2030 Lineup Today's announcement confirms that Mitsubishi Motors will work with its Alliance partner, Nissan Motor Co. Ltd., to bring a battery electric vehicle (BEV) to market in the United States and Canada. The vehicle will be based on the next-generation Nissan LEAF, and will be available starting in summer 2026, at dealer partners across both countries. More details about the vehicle, including naming, imagery, technical specifications, pricing and on-sale timing will be the subject of future announcements. "Mitsubishi Motors is on an upward trajectory, especially in the United States," said Mark Chaffin, president and CEO, MMNA. "When we launched the Momentum 2030 long-term business plan to our dealer partners last May, there was a buzz in the room about an exciting future, but there was a desire for more concrete timing and plans. Today's announcement is the first of many to come that reinforce our commitment to the U.S. market, to providing the best vehicles we can for our customers, and ensuring a long and healthy future for our company in the U.S. and globally." Chaffin continued, "Momentum 2030 is more than a business plan, it is a rallying cry for our company, for our employees, for our dealer partners, and for our loyal and new customers. Our plan is clear, our path is mapped out. The addition of this new battery-electric vehicle to our lineup will deliver a blend of internal combustion engines, plug-in hybrids and electric vehicles, so that our customers have the choice of technology that best suits their needs." The path to Mitsubishi Motors Momentum 2030 is defined by four key points:
Yahoo
10-02-2025
- Automotive
- Yahoo
New 2025 Mitsubishi Outlander Priced from $29,645
Extensive updates to interior with new materials, revised controls, updated cupholders Exterior updates highlighted by striking 18" and 20" wheel designs, updated front grille and bumper, revised taillights Retuned steering, updated suspension tuning highlight new drivability Yamaha® audio systems take interior experience to new levels 10 year/100,000-mile powertrain limited warranty and 2-year limited maintenance included FRANKLIN, Tenn., Feb. 10, 2025 /PRNewswire/ -- Mitsubishi Motors North America, Inc. (MMNA) today announced starting pricing for the new 2025 Mitsubishi Outlander, the brand's flagship SUV. Updated styling and revised engineering highlight the mid-cycle refresh on the award-winning Outlander, with the Manufacturer's Suggested Retail Price (MSRP) starting at $29,6451 for a front-wheel-drive ES model, continued proof of Mitsubishi Motors' legendary value story. More information on the vehicle can be seen at and full pricing will be announced on February 24, 2025. Since winning multiple industry awards and the hearts of customers alike, Outlander moves into 2025 with updates to drivability, interior and exterior styling and features, and an industry-leading in-car entertainment system developed by the audio experts at Yamaha2. Mitsubishi Motors engineers targeted the areas in which Outlander already excelled – its award-winning interior and acclaimed handling – to raise the vehicle's profile even further. "The new 2025 Outlander is bold, powerful, strong, and stands out on the road, all while delivering the value that customers expect from Mitsubishi Motors," said Mark Chaffin, MMNA president and CEO. "Since the launch of this generation of Outlander in 2021, the vehicle has been key to Mitsubishi Motors' successes here in the U.S. and around the world. When we add that to Mitsubishi Motors' industry-leading warranty coverage, two years of included limited maintenance4, and our award-winning dealer-partner network, Outlander is more than just a great value, it's a great vehicle." Starting with the interior, upgraded and redesigned materials bring Outlander even closer to the luxury class, with the addition of sound deadening material in significant areas bringing about a reduction of more than 0.5dB in road noise and nearly 6dB in overall sound isolation compared to the 2024 model. Redesigned placement and sizing of the cupholders, a more functional area for wireless mobile phone charging, and a larger armrest/center console area with more storage also raise Outlander's game. Underneath, Outlander sees a recalibrated power steering system delivering more precise steering feel, while recalibrated springs, shock absorbers and stabilizer bars bring greater assurance in driving confidence. The emphasis for this updated vehicle is on refinement, on details, and on enhancing the driver's and passengers' experience. Outlander has consistently broken U.S. sales records since the launch of the revised model in 2021, including a best-ever annual sales performance in the U.S. in 20243. Value is a Mitsubishi Motors hallmark, especially when considering the amount of equipment offered as standard on every 2025 Outlander: three rows of seating for up to seven passengers, full LED lighting inside and out, frameless auto-dimming mirror, 12.3" navigation screen with HD Traffic Information, Yamaha® audio with wireless Apple® CarPlay and Android AutoTM 5, USB-C power ports, multi-zone automatic climate control, and a full suite of driver-alert and safety features. All models are powered by a 2.5-liter four-cylinder engine paired with a constant velocity transmission (CVT) with eight-speed sport mode. Every 2025 Mitsubishi vehicle comes with one of the industry's leading warranties: a 10-year/100,000-mile powertrain limited warranty6; 5-year/60,000-mile new vehicle limited warranty7; 7-year/100,000-mile anti-corrosion/perforation limited warranty8; and 5-year/unlimited mileage roadside assistance program.9 ABOUT MITSUBISHI MOTORS NORTH AMERICA, a network of approximately 330 dealer partners across the United States, Mitsubishi Motors North America, Inc. (MMNA) is responsible for the sales, marketing, and customer service of Mitsubishi Motors vehicles in the U.S. MMNA's recently announced five-year business plan – "Momentum 2030" – outlines the brand's mid-term intentions for product and business transformation. MMNA will expand and refresh its vehicle lineup in the U.S. with one new or completely refreshed model to debut each year between now and 2030. Powered by a selection of advanced-technology internal combustion engines, hybrids, plug-in hybrids, and battery electrics, the product line will nearly double from today's four vehicles. Momentum 2030 also includes a vision for a modernized retail sales model and plans for network expansion and sales growth. MMNA has its headquarters in Franklin, Tennessee, as well as corporate operations in California, Georgia, Michigan, and New Jersey. For more information on MMNA, visit Disclaimers Manufacturer's Suggested Retail Price. Excludes destination/handling, tax, title, license, dealer charges, and options. Retailer price, terms and vehicle availability may vary. See your Mitsubishi retailer for details. Vehicle MSRP does not include Destination/Handling Charge of $1495 (Alaska/Hawaii $1620). "YAMAHA" is a registered trademark of Yamaha Corporation. MMNA's sales results can be found at Outlander sales performance is called out in the documents issued quarterly. Limited Maintenance includes three oil and filter changes, three tire rotations, three multi-point inspections, and one cabin filter change within specified time/mileage windows. Not transferable to subsequent owner. Parts or services not redeemed within specified windows are forfeited. Certain restrictions apply. See retailer for complete details. Available feature. Android™, Android Auto™, Google™, Google Play™, Google Maps™, Google Assistant™, and other marks are trademarks of Google LLC. Apple CarPlay®, Siri®, and Apple Music® are trademarks of Apple Inc., registered in the U.S. and other countries. All coverage terms are from the original in-service dates and are applicable only to the original owner of new, retailed models purchased from an authorized Mitsubishi dealer. Subsequent owners receive the balance of the New Vehicle Limited Warranty of 5 years/60,000 miles, whichever occurs first. See retailer for limited warranty and roadside assistance terms and conditions. All coverage terms are from the original in-service dates and are applicable only to the original owner of new, retailed models purchased from an authorized Mitsubishi dealer. Subsequent owners receive the balance of the New Vehicle Limited Warranty of 5 years/60,000 miles. See retailer for limited warranty and roadside assistance terms and conditions. Covers perforation (metal rust-through) in outer body sheet metal panels due to corrosion during normal use for 7 years or 100,000 miles for every new Mitsubishi, including Lancer Evolution, Ralliart and i-MiEV models. Coverage excludes corrosion due to accidents, damage, abuse, abnormal use, vehicle alterations or contact with corrosive material such as sand, salt, hail, stones, chemicals, acids or fertilizers. Timed from the date first sold or put into use, whichever is earlier. Coverage excludes winching of vehicles off road, vehicles disabled in rally racing or other competitive events and vehicles used for commercial purposes, such as police, taxi, route delivery, livery or daily rental services. Please see your warranty manual for details. MMNA reserves the right to limit and/or change available services. ContactJeremy BarnesSenior Director, Communications and Mobile: 615-970-8395 View original content to download multimedia: SOURCE Mitsubishi Motors North America, Inc. Sign in to access your portfolio
