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Mitsubishi Motors Corp Financial Problems

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Old Nov 13, 2003 | 08:28 AM
  #61  
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I have had the privilege of having eight Mitsubishis to stand in my driveway. Right now, there are four. I cannot emphasize enough how much I want to see Mitsubishi succeed. They make excellent cars, really. My dad used to own a 79 Galant. Talk about old. He used to tow around a light truck with the galant. And the engine never crapped out on him. And this is out of a tiny 1.6 I-4 Carb. Our next Mitsubishi was a 94 Galant...this is where our trend of buying Mitsubishi’s started. After the galant, we have owned six more Mitsubishi’s. My sister drives a 97 GSX, I drive a 01 Montero Sport, my parents drive a diamante. And to top of off, there is a 94 3KGT VR-4 sitting in the garage (no one drives it, insurance too much). What I am trying to emphasize is, Mitsubishi has repeatedly disappointed me, yet perhaps I am foolish enough to go back to them. When I bought my 95 GST first, the clutch, alternator, water pump, tranny all took a dump within days of each other. Most people would learn from that and not buy Mitsubishi again, nope not me; I was out there fixing it and looking into buying another DSM for my sister.
My friend was recently in the market for a car. He wanted AWD and cheap. He was looking at Subaru. I told him go for a 90-94 Eclipse GSX. Well guess what, a few months ago, we looked at this nice green 94 GSX and besides the horsecock shifter, he loves the car. No problems yet.
Our Diamante, the only problem it has EVER given us was when serpentine belt somehow disappeared. Other than that, besides oil changes, the car has NEVER given us any sign of need for repair.
Cars are great; I do not understand why people say the cars suck. Take care of the cars, the cars will take care of you. My 94 Galant used to be a beast. The tiny engine had power and I never once doubted it. I could trust it enough to drive across the states a few dozen times before it would even give me a slight hint of exhaustion.

I want to see Mitsubishi survive. I do not want to be that loser dorky fella who owns cars from a manufacturer that no longer exists. Didn't BMW also make warplanes?
What about Rolls Royce or Jaguar?
My point is, this zero fighter bull**** is well...bull****.
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Old Nov 13, 2003 | 09:34 AM
  #62  
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Originally posted by Infinity
I want to see Mitsubishi survive. I do not want to be that loser dorky fella who owns cars from a manufacturer that no longer exists. Didn't BMW also make warplanes?
What about Rolls Royce or Jaguar?
My point is, this zero fighter bull**** is well...bull****.
I agree it is bull****, but Rolls and Jag are British, they were on our side during the big one. No animosity there. Why are BMW and Mercedes okay? I don't get it either, perhaps with the yuppies who crave prestige, they quickly forget. But I have Jewish friends who would be appalled at the idea of even riding in a BMW, Benz or VW.

Mitsubishi represents all that is extremely "Japanese" They are the oldest Japanese car company, the build damn near everything, and they pretty much represented everything that was the financial, corporate and industrial background that is Japan. Their empire being shattered into seperate pieces was a condition when the Axis powers surrendered. All the Xenophobia of the Japanese buying up everything in America probably started with a Mitsubishi company: Like evomk8 talked about.

But beyond all that there are still many people who still think Mitsu only makes expensive big screen t.v's. There are still many others who would probably be interested in one of our cars if they were exposed to the brand. If they can continue with their advertising, making it more constant despite the expense, using the money they had to subsidize the programs that didn't work, maybe things will improve.

Last edited by GPTourer; Nov 13, 2003 at 09:37 AM.
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Old Nov 13, 2003 | 09:59 AM
  #63  
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I think Mitsu suffers greatly on the marketing and quality issues from the past. It's a ghost that they can't excorse.

When I bought my Mitsu, it was a snazzy car. I didn't see another one like it until 8-10 months of ownership. I had tons of fun. People would come to me thinking it was a civic. Nope. It's a mirage. People would give me faces that it's a crappy car or something (quality issues from the days of the eagle summit and dodge colt days). I always tell them that they have greatly underestimated my car, and I would give them this reply: "Nothing is ever wrong with it if I didn't cause the problem from tinkering."

Another time, I was tuning a mitsu at a friends house. In front of 5 mitsu drivers, there was one teenager who came up to us, saying "Mitsu sucks because his mom's galant (previous gen) had tons of quality issues." We didn't bother arguing and let it slide. All of us loved our mitsu and its quality. Of course, one must consider age and wear and tear. I could also recount other similar statements how "H&A, Toyo, and Nissan are way better than Mitsu" from others. Damn, I hate that mantra.

Last edited by bahamut; Nov 13, 2003 at 10:03 AM.
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Old Nov 13, 2003 | 10:17 AM
  #64  
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It was inevitable that the mirage would be phased out of existance, perceived crappy cars (yes, I admit we crash terrible). Since Mercedes bought enough controlling shares of Chrysler, it would be finacially sound to move one trademarked name to another company that already has it. Also, Mitsu started to market their cars differently, look at the 3g eclipse.

Yes, the 3g eclipse saved Mitsu from 00-02, but the 03 model hasn't been selling like hot cakes.

Then, the Lancer. It became somewhat of a bread and butter car for Mitsu.

If Mitsu wants to be sucessful, start with the Galant and make it better and change its PR image. Since 1986, Ford Tauras, Honda Accord, and Toyo Camry have been battling fiercely for the #1 car sales in the US.


http://story.news.yahoo.com/news?tmp...today/11945812

Here's an article which should serve as a wake up call for Mitsu. Toyo surpassed Ford (not H&A like most want to believe) in the global market in sales. This is the first time that it has ever happened. Look at the Taco and Tundra sales. They are carving a niches in a normally domestic dominated sale. Look at the Tundra commercial. Damn, they sure know how to make those trucks hardworking and tough w/ and edge in performance.

You don't think Toyo wants to open the market for fleet sales and bust open the door wide in the NASTRUCK series. Honda already felt the money power of Toyo in Indy when Chevy and Mercedes fell away from Ilmor. It's only a matter of time.

If Mitsu wants a model to look at, look none other than Toyo. They know how to work their marketing team for the American maerket.
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Old Nov 13, 2003 | 10:38 AM
  #65  
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The only reason I bought the EVO was because, at the time, it was the only one of its kind, most bang-for-the-buck, etc. It was my first Mitz, and I'm sorry to say my last. After having 4 major problems, and having the dealer service treat me like poop on a stick, I'm going elsewhere next time.
I've given them a decent shot, but they've failed miserably, and repeatedly. I'm used to Honda/Acura service and reliability - heck, my girlfriend gets red carpet treatment with her '98 Integra LS compared to my Evo, and it's supposed to the "Flagship"! They had good intentions, but the follow-through stinks.
I love my Evo -- always will, but I'm headed for another make next time. Mitz better shape up, or the trend will follow with others...

Evo2003.5
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Old Nov 13, 2003 | 10:50 AM
  #66  
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Toyo Camry have been battling fiercely for the #1 car sales in the US.
I wouldn't call it "battling" in the last five years..
Toyota has been the number one sedan for like 5 years..
Its only close between Honda and Toyota, really..


If Mitsu wants a model to look at, look none other than Toyo.
I disagree and I will tell you why.

has been looking at them "to beat" for years and they have NEVER been even close..

I think they should set their sights on HONDA or less, to have an attainable goal as far as sales numbers..TOYOTA is too high.(total volume of sales ALL models)

I do agree that they should adopt the dealer support principles that TMS has though. Toyota dealerships have been noted as being tough stores to buy at from a customer standpoint similar to Mits stores BTW, but the manufacturer backs the dealer network with UNPARALLELED support..They are the best in supporting their dealers with traing, incentive programs, etc.

Lexus and Toyota support the delaer body the best, and it has benn voted on and documented..These are things that should pay attention to..
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Old Nov 13, 2003 | 10:58 AM
  #67  
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The dealership may be awefull. The EVO car is amazing! Besides the clutch AHAHa
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Old Nov 13, 2003 | 11:26 AM
  #68  
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If you are going to set a goal, why not set it high? So what if they are after Toyota. I doubt any of us wakes up in the morning ,looks in the mirror and says, I want tob e number three today. Even if it takes years, and even if they suffer a major setback, you play to win, setting your sights too low as only asking for defeat.
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Old Nov 13, 2003 | 11:51 AM
  #69  
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If you are going to set a goal, why not set it high? So what if they are after Toyota. I doubt any of us wakes up in the morning ,looks in the mirror and says, I want tob e number three today. Even if it takes years, and even if they suffer a major setback, you play to win, setting your sights too low as only asking for defeat.
Setting ATTAINABLE goals works...Toyota isn't attainable for mits right now..

How many corporations have set the standard of wanting to be "Number Two" only to exceed the mark and reach number one!

Not only do they reach their goal, but they surpass it!!

Underpromise and overdeliver,baby.
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Old Nov 13, 2003 | 12:07 PM
  #70  
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If I may be so bold as to disagree just a little bit.
Totota isn't successful because of their marketing, neither is Honda.
Both Honda and Toyota, thanks to the strength of their financial position and the speed this monetary backing gives, have been able to enter market segments very quickly.
Toyota and Honda have a very fast "to-market" time for their cars. Combine that with the fact that Toyota and Honda can use higher quality components at lower prices due to the larger volume they use. Both manufacturers achieved this feat by sharing an absolute maximum of components between models AND platforms. These efficiencies have been the foundation of the financial stability these two makers enjoy. This money can then be re-invested in further R&D to improve quality and manufacturing speed, as well as bringing new products to market.

As you can see, 's financial stability has to become more solid before an attempt to "attack" Honda and Toyota can be made.

As I indicated earlier, IMHO has to improve on a customer perception basis through dedicated service. It has been proven by makes like Hyundai, VW and Nissan that you don't have to have perfect quality and reliability, just GREAT service and attractive products. I still feel has attractive products, maybe nor market leading, but attractive.
So what remains is the customer focus.

Last edited by evomk8; Nov 13, 2003 at 12:09 PM.
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Old Nov 13, 2003 | 12:16 PM
  #71  
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Well said!
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Old Nov 13, 2003 | 12:48 PM
  #72  
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Mitsubishi's GOAL is to sell 500,000 units (a year) by 2005. That is it. Toyota happens to have a market strategy that means a seat for every ***. Mitsubishi is using that strategy to meet their goal, it does not mean they want to be the number one automaker in two years, it just means they are taking the strategy of what is probably the world's leading manufacturer and applying to their own.

We have four SUV's to Toyota's five.
Two sports cars, three sedans and a wagon, all very similar to Toyos lineup, and most certainly not Hondas.
We have a pickup on the way, but the minivan is still not on the radar. Honda's picture does not include a pickup.

So you see, I am not saying Mitsu has an attainable goal of surpassing Toyota, but they are gunning for number one in that they are adopting their style.

Last edited by GPTourer; Nov 13, 2003 at 02:06 PM.
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Old Nov 13, 2003 | 01:24 PM
  #73  
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I just want to point out, that yes, Mitsubishi Heavy Industries did produce the Japanese "Zero" fighter plane during the WW. BUT, ask anyone old enough to have seen this plane or perhaps flew against it - it was one helluva plane.

Most WWII vets that I've come in contact have nothing but respect for the plane because it was a good aircraft at the time. It ruled the skies for several years before America came out with the Lightning and Mustang.

Just wanted to point that out. The war is over and Japan has been our allies for years now. Time to let that animosity go.
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Old Nov 13, 2003 | 01:33 PM
  #74  
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Mitsu's 2 FAST 2 Furious commericals show exactly where they are headed. They want kids whooping and hollering in their "this is the religion we started" car. They don't appear to know how to market themselves to more than a single demographic well. Most every other car manufacturer out there still attracts 1st car buyers as well as boomers, established, mid life and empty nesters. Mitsu has appeared to focus primarily on the cheapo crowd. Not necesarily a bad thing. Wal Mart does it well. Mitsu just doesn't have the customer service counter staffed well enough for the returns.
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Old Nov 13, 2003 | 02:14 PM
  #75  
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Originally posted by Mister2zx3
Mitsu's 2 FAST 2 Furious commericals show exactly where they are headed.
Aw come on, man. You picked one commercial out of the ten others or so that have been running. I see the Endeavor spot on many more times and that is geared towards family's. So has the Outlander spot, the Galant, Montero, etc...

Every manufacturer has their "fun" ad. Aren't we allowed one?
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