Mitsubishi Motors Corp Financial Problems
I'm glad my points came across as clearly as they did.. I didn't want to start another rant session! But that was my point about the Fighter plane comment.. Over time, things change and perceptions change. You can't forget the past, but you also can't use past experience against them.
Anyway, You are right about the STi, If there was no Evo, I would have ended up with a IS300 or an STi (I bought early last year and who knows if we'd have gotten the STi) but at the time I was dead set against the WRX (for no other reason than hearing kiddies repeat REX REX REX bling bling, etc..
I really would like to see Mitsubishi restructure themselves a bit, they have always regarded customer input very highly, but it seemed the american market was always ignored. If they can change that with new management, they have a good chance to recover. Just keep in mind that Chrysler also was on the verge of collapse years ago and look where they are now?
Anyway, You are right about the STi, If there was no Evo, I would have ended up with a IS300 or an STi (I bought early last year and who knows if we'd have gotten the STi) but at the time I was dead set against the WRX (for no other reason than hearing kiddies repeat REX REX REX bling bling, etc..
I really would like to see Mitsubishi restructure themselves a bit, they have always regarded customer input very highly, but it seemed the american market was always ignored. If they can change that with new management, they have a good chance to recover. Just keep in mind that Chrysler also was on the verge of collapse years ago and look where they are now?
2 factors led to me purchasing an STI.
1) Insurance rates of an EVO
2) Mitsubishi's lackluster customer service reputation.
If Mitsu had at the very least a decent rep I'd have gone with an EVO, but I'm not a glut for headaches. I know too many people who curse the existance of Mitsu in one form or another CS wise.
Their one achellies heel, the one thing that is leading them to ****.
1) Insurance rates of an EVO
2) Mitsubishi's lackluster customer service reputation.
If Mitsu had at the very least a decent rep I'd have gone with an EVO, but I'm not a glut for headaches. I know too many people who curse the existance of Mitsu in one form or another CS wise.
Their one achellies heel, the one thing that is leading them to ****.
I hope mitsubishi read this furoms. Why because they are stupid in making decision. There cars ares eriously over priced. Customer service sucks ***. Furtheremore they try to get money even after one is odne paying for the car. what this bs. that a simple oil change on jiffy is 19.99 while mitsu charges 49.99 and that is with the coupon. MITSU and your gay *** CEO and President and board of directors hope you read this and start to realize you suck. If you do read this i will seriously tell you in your face that you suck.
Apples to Oranges
Charles1 when was the last time you changed your oil at Jiffy Lube and used Mobil 1. Last time I did in my Probe GT it was pushing $60. I wish I could get my oil changed for $50 with Mobil 1. Try not to compare apples to oranges.
I dont belive that the evo line will dissipear, it's like there trademark, and there rally car vechicle, and I have faith that
will get thru this, i 4 one think mitsu is a g8 company that produces g8 cars at a g8 price, sure some dealers are shify but if you go around a few dealerships some are g8 as well.
North Toronto Mitsu Is prob. they best i've been to all thru canada, and i've been out of province N all.
Pls no more
bashing as rite, i think this will change ppls decisions on making a purchase, as it is doing to mine. Its making me feel ****ty/sad that these things are happening, tho Im hopin 4 mitsu 2 get back strong, N produce more EVO's, etc.
Keep goin
!!!!
will get thru this, i 4 one think mitsu is a g8 company that produces g8 cars at a g8 price, sure some dealers are shify but if you go around a few dealerships some are g8 as well.North Toronto Mitsu Is prob. they best i've been to all thru canada, and i've been out of province N all.
Pls no more
bashing as rite, i think this will change ppls decisions on making a purchase, as it is doing to mine. Its making me feel ****ty/sad that these things are happening, tho Im hopin 4 mitsu 2 get back strong, N produce more EVO's, etc.Keep goin
!!!!
I'm sorry but all negative comment about regular Lancers aside, any company these days has to know that customer service is where you make your money. How else can you create "repeat" customers.
I have had my bad experiences too but some of it has been my fault for not being firmer when purchasing vehicles from a particular Dealer. I tell you that I won't ever buy from them no matter how many times they talk about "new mgmt"
Sorry back on topic. Anyone who has ever studied business knows that word of mouth is one of the most powerful sales makers or breakers for a company. If you keep hearing these complaints about CS time and time again then something has got to be wrong.
All it takes is one mouth and maybe 100 people for that one person will make a choice not to buy someones product. We all know people, who know people who know....
Anyway My 2c
WADAD
I have had my bad experiences too but some of it has been my fault for not being firmer when purchasing vehicles from a particular Dealer. I tell you that I won't ever buy from them no matter how many times they talk about "new mgmt"
Sorry back on topic. Anyone who has ever studied business knows that word of mouth is one of the most powerful sales makers or breakers for a company. If you keep hearing these complaints about CS time and time again then something has got to be wrong.
All it takes is one mouth and maybe 100 people for that one person will make a choice not to buy someones product. We all know people, who know people who know....
Anyway My 2c
WADAD
BTW..Just because has had a great ad campaign which has driven showroom traffic, and decent product overall, doesn't mean that business is booming.
I posted this in February a long time ago..before the EVO even arrived..
I had GPTourer telling me that
had a "7% increase in sales over the last year.."No offense GP but..
has troubled waters becuase they consistently GIVE their cars away, and offer STUPID LOW cash incentives to move product...Rather than STRENGTHEN the brand image with properly trained salespeople and more state of the art and "upscale" facilities..(they are JUST now building these state of the art buildings BTW) They focus on cheapening the product by "hoaring it" out..BIG MISTAKE and it hasn't stopped since 1995 whaen I was with them.
I for one LOVE the
brand..( I am biased becuase I ran a Mitsubishi building at 24 years old) But I love the brand because they build a good car as well...I wish they could focus on improving their dealer network and start supporting the sale of their vehicles with the proper selling recources and dealer support rather than the half assed and mass merchandising efforts that have been the norm for them..
Do you realize that
doesn't even have a Pre-Owned Certified Program???? Some of the most successful Japanese brands have had this used car program in place for YEARS and are making BIG money selling from STRENGTH and not from WEAKNESS!! This is a program that needs to be in place NOW.
. You have a fan in me that is behind you all the way!! Lets get it going!!
Last edited by M3lachsilber; Nov 11, 2003 at 10:30 AM.
I agree with you M3lach
I think the cars are great. I hope no one took it that I hated Mitsu. I just hated the experience at the dealer. It's my second Mitsu and hopefully not my last but only time will tell.
WADAD
I think the cars are great. I hope no one took it that I hated Mitsu. I just hated the experience at the dealer. It's my second Mitsu and hopefully not my last but only time will tell.
WADAD
Am I the only person who hasn't really had a hard time with their dealers? I had a great buying experience all in all. All the guys were really nice there. Didn't force anything on me.
I didn't like the Nissan sales guy. He was nice but I didn't like him as much.
Maybe I'm just too much in love with the Lancer/LanEvo to see all the hate towards the company.
The fact that you have one of their cars doesn't grant them any love from you? I love Mitsu for making such a nice car that I can say I'm proud to own/etc. I certainly hope they don't crash and burn because i want to get an Evo after college....
I didn't like the Nissan sales guy. He was nice but I didn't like him as much.
Maybe I'm just too much in love with the Lancer/LanEvo to see all the hate towards the company.
The fact that you have one of their cars doesn't grant them any love from you? I love Mitsu for making such a nice car that I can say I'm proud to own/etc. I certainly hope they don't crash and burn because i want to get an Evo after college....
Warning: Long Post
Disclaimer: This is not in defense of Mitsu, but an analysis of Amercian perception of
(by the way, I do agree that
needs to improve dealer oversight and customer service).
The Zero fighter comment is, belive it or not, a relevant comment and part of the reason
is so newsworthy, especially when it's bad news.
An example, Nissan recently announced a recall of 2.5 million cars.
http://www.asahi.com/english/nation/...310310136.html
Few people paid attention to it. About 10 months ago VW 750,000 cars with little fanfare.
http://waw.wardsauto.com/ar/auto_recalls_bmw_vw/
I understand that the primary focus was that Mitsu "hid" complaints. Yet, lets not kid ourselves, other manufacturers did the same. Subaru for example in 1997 (read towards the bottom of the article).
http://www.financialexpress.com/fe/d.../fco24065.html
There are still many vets out there and they hate Mitsu simply because it is so easily reconized as being Japanese. The fact that Mitsu corp owned so much real estate (Rockefeller Center) in the U.S. in the 80's did not help.
Hence, there is a lot of diarrhea of the printing machine (so to speak) resulting in biased reporting, it sells the news.
Next: A lot of so-called informed people like to compare the Nissan turnaround to Mitsu. The main difference here was that Nissan had a lot of non-core or essential assets, which the old management simply refused to sell. Gohsn had not qualms about liquidating and using the money for R&D. Smart it was, but it doesn't take a genius. It's much easier to lead a turn-around if you have money lying around. To Gohsn's credit, it was a stroke of genius to use what was initially intended as the new Maxima for what is now the Altima.
Additionally, though Mitsu did lose money and is expected to make a loss for the fiscal year, there are a number of positives. Sales in Europe, China and Japan are up, procurement costs are down, capacity is in check, global sales are up, etc.
http://www.just-auto.com/news_detail.asp?art=42686
Mitsu did show poor management over the years. Oversight from Tokyo was too lose. Top management should have questioned where the sales were from and how intelligent such a tactic was. I do think thath Torok is more adept and fster moving than his predecessors (just look how fast Gagnon was fired...)
As mentioned above, Mitsu also has to provide better customer service via control over the service experience at its Dealerships.
The warranty denials are a conundrum in the industry. Some dealerships lose money on warranty claims, even though they get reimbursed by the manufacturer. Thus, some dealerships will claim the warranty has been denied and will give the consumer the run around. This explains the vast variety of experience among Mitsu owners and owners of other makes. As such, control is needed. Nontheless, Mitsu call center customer service also has to improve.
Finbarr O'Neill, the new CEO, is a more product driven person. Just as with Hyundai, his focus will be on building the quality perception, the customer service experience, and sales for profit not just for the sake of sales. I think he will do well.
Finally. If you visit other countries, you will find poeple have different perceptions regarding
. In Germany, the U.K, Switzerland, Taiwan, the Philippines,
is regarded quite highly (along Toyota and Honda lines here in the U.S.)
Part of the reason for that is product mix. Mitsu long sold vehicles with good quality, performance and well working technology. Though the performance focus ended in Europe, Mitsu retained the tech and quality mix for Europe. In the U.S., the performance focus lost steam after 1992 when the Galant VR-4 was discontinued. The U.S. built Galants had questionable reliability and low technology and no V6. The Diamante was a good performer with good technology, but poorly marketed. By 1995 , Mitsu sold most of its cars to fleets. Good marketing and a serious consumer focus were needed. Gagnon brought the marketing, not O'Neill has to win the customer back.
Disclaimer: This is not in defense of Mitsu, but an analysis of Amercian perception of
(by the way, I do agree that
needs to improve dealer oversight and customer service). The Zero fighter comment is, belive it or not, a relevant comment and part of the reason
is so newsworthy, especially when it's bad news.An example, Nissan recently announced a recall of 2.5 million cars.
http://www.asahi.com/english/nation/...310310136.html
Few people paid attention to it. About 10 months ago VW 750,000 cars with little fanfare.
http://waw.wardsauto.com/ar/auto_recalls_bmw_vw/
I understand that the primary focus was that Mitsu "hid" complaints. Yet, lets not kid ourselves, other manufacturers did the same. Subaru for example in 1997 (read towards the bottom of the article).
http://www.financialexpress.com/fe/d.../fco24065.html
There are still many vets out there and they hate Mitsu simply because it is so easily reconized as being Japanese. The fact that Mitsu corp owned so much real estate (Rockefeller Center) in the U.S. in the 80's did not help.
Hence, there is a lot of diarrhea of the printing machine (so to speak) resulting in biased reporting, it sells the news.
Next: A lot of so-called informed people like to compare the Nissan turnaround to Mitsu. The main difference here was that Nissan had a lot of non-core or essential assets, which the old management simply refused to sell. Gohsn had not qualms about liquidating and using the money for R&D. Smart it was, but it doesn't take a genius. It's much easier to lead a turn-around if you have money lying around. To Gohsn's credit, it was a stroke of genius to use what was initially intended as the new Maxima for what is now the Altima.
Additionally, though Mitsu did lose money and is expected to make a loss for the fiscal year, there are a number of positives. Sales in Europe, China and Japan are up, procurement costs are down, capacity is in check, global sales are up, etc.
http://www.just-auto.com/news_detail.asp?art=42686
Mitsu did show poor management over the years. Oversight from Tokyo was too lose. Top management should have questioned where the sales were from and how intelligent such a tactic was. I do think thath Torok is more adept and fster moving than his predecessors (just look how fast Gagnon was fired...)
As mentioned above, Mitsu also has to provide better customer service via control over the service experience at its Dealerships.
The warranty denials are a conundrum in the industry. Some dealerships lose money on warranty claims, even though they get reimbursed by the manufacturer. Thus, some dealerships will claim the warranty has been denied and will give the consumer the run around. This explains the vast variety of experience among Mitsu owners and owners of other makes. As such, control is needed. Nontheless, Mitsu call center customer service also has to improve.
Finbarr O'Neill, the new CEO, is a more product driven person. Just as with Hyundai, his focus will be on building the quality perception, the customer service experience, and sales for profit not just for the sake of sales. I think he will do well.
Finally. If you visit other countries, you will find poeple have different perceptions regarding
. In Germany, the U.K, Switzerland, Taiwan, the Philippines,
is regarded quite highly (along Toyota and Honda lines here in the U.S.)Part of the reason for that is product mix. Mitsu long sold vehicles with good quality, performance and well working technology. Though the performance focus ended in Europe, Mitsu retained the tech and quality mix for Europe. In the U.S., the performance focus lost steam after 1992 when the Galant VR-4 was discontinued. The U.S. built Galants had questionable reliability and low technology and no V6. The Diamante was a good performer with good technology, but poorly marketed. By 1995 , Mitsu sold most of its cars to fleets. Good marketing and a serious consumer focus were needed. Gagnon brought the marketing, not O'Neill has to win the customer back.
There were a few times I was contemplating buying a Mitsu and either a previous owners experience disuaded me or the dealership treated me pretty ****ty. Bad juju.
If they can change that A-Hole perception of the dealerships then they will be good to go here in the states.
If they can change that A-Hole perception of the dealerships then they will be good to go here in the states.
Last edited by LSNYC; Nov 11, 2003 at 10:08 AM.
Finbarr O'Neill, the new CEO, is a more product driven person. Just as with Hyundai, his focus will be on building the quality perception, the customer service experience, and sales for profit not just for the sake of sales. I think he will do well.
You are obviously knowledgable about the trends and car biz in general..THANK YOU!
Mitsu has the product, now they must build and in some cases re-build their dealer body..
Here is a link to our local "gem" of a dealership that is to represent the
brand as a whole..just opened and is quite impressive and staffed properly to boot!! Enjoy..Virtual tour baby!
New dealership in Milwaukee
or here:
Dealer page
(no affiliation with this dealership..FYI)
I hope the 2003 USDM EVO 8 is the only one Mitsi makes! That way I'll have 1 of what 5000? Go Blue Book Value go.......
Speedlimit ....
PS... Where in the heck are all of these (I'm not buying no stinking Mitsubishi) people coming from. Please go back to the Honda forums....... I wuv my EVO!!!!!
Speedlimit ....

PS... Where in the heck are all of these (I'm not buying no stinking Mitsubishi) people coming from. Please go back to the Honda forums....... I wuv my EVO!!!!!
The financing restructure of Mitsu should be pretty good. Hopefully if they stop giving away such cheap financing it will help their used car values. Mitsubishi's resale values really get murdered in the used car marketplace.



