Per the NY Times today, Mitsu has burned though a $5B loan from its parent Co in the last year and need another $1.6B to continue. Efforts to find another car co to partner with have failed, sales in Japan & US are off 25-35% & the head of Mitsu USA, hired 1 year ago to turn things around just quit.

 

Crapola

 

well even the stock cars warrentys just went bye bye.

 

If they weren't trying to rape everyone buying a car from them, they wouldn't be in this predicament in the first place. That's my take on Mitsu.

 

Just hope they hold on a little longer till I get an Evo IX...hopefully with S-AYC...

 

Damn, there must be some seriously deep-rooted issues there.

But honestly, besides the Evo, I can't think of any (regardless of what kind of car you want) reason to buy a Mitsubishi right now. I can think of many reasons to buy a Nissan (who is doing spectacularly now) or Mazda, etc.

Mitsubishi itself (parent co) is a massive entity. I think it would take a LOT for MMNA to disappear. Frankly, there's no reason why they can't be successful, they just need to figure out how to do it. They can start by making the 06 Eclipse RWD...

 

Any idea how many people are employed by Mitsubishi Motors? If the US government bailed Chrysler out in the 80's the super-protectionist Japanese government will probably kick in a bil or two. Sure sounds like MMNA got the pipe big time for those 0% loans to people who sure as hell couldn't afford the vehicles.

 

the CEO acutally step down because he is working for Reynolds and Reynolds and still works with Mitsu.

Second...MITSU USA jus got some more money about 2 billion from other parent companies...and Mitsu japan will be making 36,000 mini cars for nissan as an agreement. remember Mitsu has yet to file bankruptcy like Nissan who filed twice in the past 2 years when Ford and Renault helped out.

 

If and I'm just saying IF mitsu went under I'm sure some other company will bail them out or purchase MM. If not the company I'm sure some company will pick up the EVO fo sho. Maybe we'll be driving the new "Ford Evo" or "Bentley Evo IX"

 

As long as they have a closeout sale I don't care what happens to them

 

Mitsubishi hires turnaround specialist for U.S.


By James B. Treece and Kathy Jackson
Automotive News / January 19, 2005



Mitsubishi Motors Corp. has hired turnaround specialist AlixPartners LLC to advise its U.S. operations.

Hiring Alix indicates that Mitsubishi needs drastic action to stop a financial freefall in the United States. Sales plummeted 37.1 percent last year and many key employees departed, including U.S. CEO Finbarr O'Neill and marketing chief Ian Beavis.

The talent remaining at the U.S. operations is too thin to turn it around, says one former U.S. employee who declined to be named.

The company said that AlixPartners will work "in an advisory capacity only."

"Mitsubishi Motors North America has hired AlixPartners LLC to serve as advisors to the company's management team over the next several months," it said. "They will assist MMNA in reviewing and revising the company's turnaround strategies and action plan for the North American market."

Alix has a reputation for tough and swift action, such as selling assets and laying off employees. The firm has more than 300 professionals in offices located in Chicago, Dallas, Detroit, Duesseldorf, London, Los Angeles, Milan, Munich and New York.

Alix's arrival coincides with the growing influence of outside investors at Mitsubishi Motors Corp.

Phoenix Capital Co., a Japanese turnaround fund that bailed out Mitsubishi last May, now owns 28 percent of the troubled carmaker, according to information released by Mitsubishi this month. That stake is nearly double the stake of the Mitsubishi Group.

Yasushi Ando, president of Phoenix, is one of 11 members of Mitsubishi's board. He also chairs the carmaker's Corporate Revitalization Committee. That is the body responsible for coming up with a viable new restructuring plan.

Mitsubishi is supposed to announce that plan by the end of January, a month later than originally scheduled.

 

here's an idea: ADVERTISE!!!!

and figure out what the identity of Mitsu is in THIS market. Or heck, just make one.

 

Like someone else mentioned the three dimond motors problems seem self inflicted. Other than the EVO what car would you purchase from them I mean really. So many other car companies have such good offerings Nissan, Honda, Mazda, even Caddy. I just don't get car companies. Look what Suby has done. They build the WRX a cheap fun car. Then they exapand with a 2.5liter STI. Then they take that great motor detune it and put it in the rest of the lineup. Have you guys seen the Legacy. Thats a pretty hot sedan with a detuned STI engine. Hell even a Forester XT (suv/wagon x-over) will smoke a 330i seden 0-60.

 

Are you listening ? I have some ideas to help you out:

• Don't let $tealerships hire punk a$$ kids to sell their cars
• Don't let $stealerships hire punk a$$ mechanics that don't know how to fix the cars
• If you want to make a 2-door sports car (Eclipse) do it the right way (F/R) or AWD. From 1999-2002 there was no for me to consider buying.
• Enough with the new gimmicky styling already, people want smooth lines and character, not freakish angles, random bulges, and big beaks with gigantic symbols on them. You don't have enough brand loyalty to sport such large symbols!
• How about running a credit check on the kiddies before you let the cars go for 0/0/0 (I'm sure you learned this by now)
• How about backing up your warranty on your flagship car
• How about you advertise your flagship car. Most people don't know what the hell I'm driving.

The dealership is what moves your product and builds customer loyalty. You need to focus more on customer relationships.

 

haha...dealers are franchise...there are no dealers out there at all that are corp. owned just to let u kno