DaWorstPlaya

iTrader: (31)

nice ... thats right make mine even more rare Muahahahah!

osunick

iTrader: (8)

I explained this in another thread, but basically Mitsubishi Motors is wholly independent from the other Mitsubishi group companies. They have a zaibatsu relationship, which is kind of a commonwealth of friends, but they have no legal or financial obligations to each other. They were a giant conglomerate pre WWII but afterwards the allies broke it up to what it is today. And the other members of the group are actually starting to distance themselves from MMC with all the consumer scandals in the home country.

osunick

iTrader: (8)

I don't think that much sucking up was going on. In fact, most of the reviews of the evo lamented the fact that the rest of the product line was so subpar. The evo is the real deal, and the mags recognize that. However they also recognize the korean level quality and design that comprises the remainder of the US lineup. Mitsubishi did win a few awards in europe for the Colt, but it will be a cold day in Hell when they bring that over.

ThEHiTMaN

iTrader: (9)

That's for SURE! Amen!

GPTourer

Maybe so, but the relationship is there. Which is why MHI is the largest shareholder today or will be once the latest bailout package is complete. Now there is a financial obligation, namely the huge investment. Our government came in to save Chrysler back in the 80's, twice I think. The same thing is happening for Mitsubishi. Not only are the other companies helping, but they are getting a lot of debt relief from the Japanese government. It is a matter of pride. Toyota hired a lot of the people that were laid off when they cut down on production, I think Honda did too. Plus there's the matter that the Mitsubishi group of companies own a significant amount of land and resources in Japan, so they can keep coming up with all the cheese they need. A lot of Honda's resources are financed with Mitsubishi Bank of Tokyo, Nissan is buying minicars from Mitsu to resell as theirs - so what I'm getting at, a large chunk of Japan's economy including the government and rival companies are rallying behind their oldest auto brand and it will not die easily, if ever.

They'll probably end up getting one of those 0 interest loans that have 100 year terms like our government does for the train and airline industries and all will be good again.

Titleist71

werd

cannyboy

If anything goes up in value, it will be the STI!
You'd have to be nuts to spend your hard earned cash on an Evo now, despite it being a great car.

Pity. That guy who introduced the 0/0 deal should have been jailed!

Darwinian

iTrader: (2)

It's pure speculation as to what will happen. I just don't see Mitsubishi leaving the US market. The US branch was just mismanaged, and that can be fixed, but it will most likely take five years or more to really get back up to speed.

Richard EVO

5 YEARS??? MMNA has to stop the bleeding NOW. It lost $2 Billion (that's Billion with a "B") in the last 9 months, and Mitsu cars worldwide lost $4.5 Billion last year. They can't keep racking up those kind of losses for the next 5 years.

Something major will happen this year, I know not what.

soule77

I agree, the US car market is the biggest in the world and pulling out would be business suicide, especially when you already have an established distributions, sales, and production networks. By cutting thier losses Mitsu would not only forfeit their share of largest car market in the world but the would also get hosed in the liquidation of their US assets and potential lawsuits that may arise from mitsu distributors seeking damages. Bottom line it would be ugly and I hope it doesn't happen.

Jakeg97

iTrader: (56)

not gonna happen , at least not now ....

Jakeg97

iTrader: (56)

i am sure they will not know $hit.

Jakeg97

iTrader: (56)

http://www.msnbc.msn.com/id/6992165/

TOKYO - Embattled Japanese auto maker Mitsubishi Motors Corp. said on Friday it had no plan to exit the North American market, denying a Wall Street Journal report that it was seeking a buyer for its U.S. operations.

advertisement
The Journal reported in its Asian weekend edition that Mitsubishi Motors' new president, Osamu Masuko -- then head of overseas operations -- had met with several industry executives to seek a potential buyer during his trip to Detroit early last month for the annual North American International Auto Show.

The talks focused on the sale of Mitsubishi's assembly plant in Illinois and its North American sales unit in California, the report said, citing people familiar with the matter.

It said Masuko was accompanied by Yasushi Ando, head of Tokyo-based investment fund Phoenix Capital and a non-executive member of MMC's board. Phoenix, Mitsubishi's top shareholder, had been part of a team aiming to revitalise the auto maker since it sank into huge losses and debt caused by lending practices at its U.S. finance arm.

The two met privately with several executives including representatives from U.S. private equity fund Ripplewood Holdings LLC, which did not show much interest, the paper said.

"The article in the Wall Street Journal stating that MMC is seeking a buyer for its operations in the U.S. is groundless," the company said in a statement issued late on Friday.

It added that Masuko and Ando had not met with representatives from Ripplewood or Canadian parts maker Magna International Inc. during the auto show in Detroit.

"We have absolutely no plan or desire to withdraw from the North American market," a Mitsubishi spokesman in Tokyo said, repeating the company's stance after similar reports of an exit from North America had surfaced in Japan last year.

A few weeks after Masuko's trip to Detroit, Mitsubishi Motors outlined a new revival plan focused on leadership by three Mitsubishi group companies and which removed Phoenix Capital from the core rehabilitation team.

The auto maker has said repeatedly that fixing its business in North America -- for long its only profitable market -- was vital to its survival, predicting a return to profit by the end of 2006.

At a news conference in Detroit, Masuko announced plans to export the Galant sedan from the Illinois plant in a move aimed at filling unused capacity to cut losses.

Last year, Mitsubishi's U.S. sales plunged 37 percent to 161,600 units -- the lowest in 15 years and less than half what it sold two years prior.

Shares in Mitsubishi Motors ended up 0.73 percent at 138 yen on Friday, roughly in line with the broader Tokyo market.

Arithmetic

iTrader: (9)

^^^ thank you.

It' sad, you guys are soooo optimistic. Mitsu isnt going anywhere intill final word is from them. How are they gonna pull out and havent even released the evo9, 4g eclipse, raider and ralliart galant/endevour?

Jakeg97

iTrader: (56)

good article , but which story are we gonna believe