Mitsubishi closing in the US?
Mitsubishi closing in the US?
http://money.msn.com/investing/5-com...e-after-2014-1
According to MSN located on this link if you click to page 6 shows the decline in sales by mitsubishi and that the company will likely shut down US sales in 2014. This is pretty shocking and i hope it is not true.
According to MSN located on this link if you click to page 6 shows the decline in sales by mitsubishi and that the company will likely shut down US sales in 2014. This is pretty shocking and i hope it is not true.
This has been printed once every 3 months for the past 10 years at least.
I can't remember if it was 0-0-0 that started it or the sexual harassment lawsuit, but this has been every automotive writers kicking post for the past decade.
Hasn't happened yet, isn't likely to any time soon. Mitsubishi is sinking huge amounts of money into forwarding US operations making a lot of moves they would never make if they were pulling out in the next 10 years let alone 1. US operations is more of a pet project for Mitsubishi than a financial enterprise at this point, and has been that way for most of it's operations. They make their money overseas, not here.
Beyond that numbers are actually positive for the first time in a long time and going forward still. Just ignore the people with nothing better to do but stir up trouble. Remember everyone is getting paid for their opinion in this industry.
I can't remember if it was 0-0-0 that started it or the sexual harassment lawsuit, but this has been every automotive writers kicking post for the past decade.
Hasn't happened yet, isn't likely to any time soon. Mitsubishi is sinking huge amounts of money into forwarding US operations making a lot of moves they would never make if they were pulling out in the next 10 years let alone 1. US operations is more of a pet project for Mitsubishi than a financial enterprise at this point, and has been that way for most of it's operations. They make their money overseas, not here.
Beyond that numbers are actually positive for the first time in a long time and going forward still. Just ignore the people with nothing better to do but stir up trouble. Remember everyone is getting paid for their opinion in this industry.
This has been printed once every 3 months for the past 10 years at least.
I can't remember if it was 0-0-0 that started it or the sexual harassment lawsuit, but this has been every automotive writers kicking post for the past decade.
Hasn't happened yet, isn't likely to any time soon. Mitsubishi is sinking huge amounts of money into forwarding US operations making a lot of moves they would never make if they were pulling out in the next 10 years let alone 1. US operations is more of a pet project for Mitsubishi than a financial enterprise at this point, and has been that way for most of it's operations. They make their money overseas, not here.
Beyond that numbers are actually positive for the first time in a long time and going forward still. Just ignore the people with nothing better to do but stir up trouble. Remember everyone is getting paid for their opinion in this industry.
I can't remember if it was 0-0-0 that started it or the sexual harassment lawsuit, but this has been every automotive writers kicking post for the past decade.
Hasn't happened yet, isn't likely to any time soon. Mitsubishi is sinking huge amounts of money into forwarding US operations making a lot of moves they would never make if they were pulling out in the next 10 years let alone 1. US operations is more of a pet project for Mitsubishi than a financial enterprise at this point, and has been that way for most of it's operations. They make their money overseas, not here.
Beyond that numbers are actually positive for the first time in a long time and going forward still. Just ignore the people with nothing better to do but stir up trouble. Remember everyone is getting paid for their opinion in this industry.
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No shat! These analysts don't really analyze. There was a discontinuing of models and a lull of availability for a bit earlier this year. I bet their Sep - Dec numbers will look a lot better.
Suzuki is gone because they were awful.
Suzuki is gone because they were awful.
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I'm posting the exact same thing I posted in the other thread...
This is old news, and a old rumor.
In 2003 Mitsubishi divorced Chrysler and left Diamond Star Motors behind. Then end of DSM left Mitsubishi with substantial debt. This debts has left the company in the "not profitable" category for several years.
This lack of profitability was furthered by Denny Hecker. If you're not from Minnesota, you've never heard of him. But he's now in jail for a number of things. One of the shade ball things he once pulled involved Mitsubishi Motors North America. MMNA had several millions of dollars in lease returned cars. Hecker had several million dollars in adverting spots. They struck a deal and traded, cars for advertising. What someone at MMNA failed to realize or ask is that they advertising spots they had just traded were all in the middle of the night. So for year Mitsubishi's entire advertising budget was spend advertising to insomniacs.
However, is 2012 Mitsubishi deliberately discontinued the Endeavor, Gallant, and Eclipse. All vehicles that were made in their Normal, IL plant. They invested 100 million dollars in to the plant to make way for its new flag ship car, the Mitsubishi Outlander Sport, or RVR as it's called in other markets.
As of this year, Mitsubishi has paid off it's remaining debts from the DSM era, and predicts that it will be profitable for the first time in 7 years.
Furthermore, they have several cars in development. And, they recently shook hands with Renault and will be bringing two sedans to the US made by the French auto maker, and selling them under the Mitsu badge.
As for Suzuki, they left the North American market due in part to supply. American Suzuki Motor Company (ASMC) was merely a distributor of Suzuki cars, not the manufacturer. ASMC was receiving "left over" cars from European and Asian markets. This makes it really hard to get the colors and options that your customers want. I work for a dealers that used to be a Suzuki dealer. When someone wanted a Kizashi with X, Y and Z options in a certain color that we didn't already have, the response was "Well, might be able to find you one. If we can't, would _____ do?" With Mitsubishi the WORST case is we our regional rep and say "Hey Damian, we need X, Y, Z, car. Please order it for us in our next cycle." 3-4 months later it shows up.
Suzuki the parents company, and manufacturer was rumored looking in to buying a plant here in the US so that it could meet market demands. When Suzuki announced that it would not be purchasing a US plant, ASMC folded.
__________________
This is old news, and a old rumor.
In 2003 Mitsubishi divorced Chrysler and left Diamond Star Motors behind. Then end of DSM left Mitsubishi with substantial debt. This debts has left the company in the "not profitable" category for several years.
This lack of profitability was furthered by Denny Hecker. If you're not from Minnesota, you've never heard of him. But he's now in jail for a number of things. One of the shade ball things he once pulled involved Mitsubishi Motors North America. MMNA had several millions of dollars in lease returned cars. Hecker had several million dollars in adverting spots. They struck a deal and traded, cars for advertising. What someone at MMNA failed to realize or ask is that they advertising spots they had just traded were all in the middle of the night. So for year Mitsubishi's entire advertising budget was spend advertising to insomniacs.
However, is 2012 Mitsubishi deliberately discontinued the Endeavor, Gallant, and Eclipse. All vehicles that were made in their Normal, IL plant. They invested 100 million dollars in to the plant to make way for its new flag ship car, the Mitsubishi Outlander Sport, or RVR as it's called in other markets.
As of this year, Mitsubishi has paid off it's remaining debts from the DSM era, and predicts that it will be profitable for the first time in 7 years.
Furthermore, they have several cars in development. And, they recently shook hands with Renault and will be bringing two sedans to the US made by the French auto maker, and selling them under the Mitsu badge.
As for Suzuki, they left the North American market due in part to supply. American Suzuki Motor Company (ASMC) was merely a distributor of Suzuki cars, not the manufacturer. ASMC was receiving "left over" cars from European and Asian markets. This makes it really hard to get the colors and options that your customers want. I work for a dealers that used to be a Suzuki dealer. When someone wanted a Kizashi with X, Y and Z options in a certain color that we didn't already have, the response was "Well, might be able to find you one. If we can't, would _____ do?" With Mitsubishi the WORST case is we our regional rep and say "Hey Damian, we need X, Y, Z, car. Please order it for us in our next cycle." 3-4 months later it shows up.
Suzuki the parents company, and manufacturer was rumored looking in to buying a plant here in the US so that it could meet market demands. When Suzuki announced that it would not be purchasing a US plant, ASMC folded.
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Mitsubishi Motors Sales Climb Nearly 70 Percent in November
Turning a corner? Or a spin on the statistics?
http://media.mitsubishicars.com/releases/4a5cc8ad-17e1-405a-abd6-f31912681085
Mitsubishi Motors Sales Climb Nearly 70 Percent in November
– Best November Sales Total Since 2007 –
Mitsubishi Motors North America (MMNA) today reported November sales of 6,071, up 69.9 percent compared to November 2012.
http://media.mitsubishicars.com/releases/4a5cc8ad-17e1-405a-abd6-f31912681085
Mitsubishi Motors Sales Climb Nearly 70 Percent in November
– Best November Sales Total Since 2007 –
Mitsubishi Motors North America (MMNA) today reported November sales of 6,071, up 69.9 percent compared to November 2012.
Turning a corner? Or a spin on the statistics?
http://media.mitsubishicars.com/releases/4a5cc8ad-17e1-405a-abd6-f31912681085
Mitsubishi Motors Sales Climb Nearly 70 Percent in November
– Best November Sales Total Since 2007 –
Mitsubishi Motors North America (MMNA) today reported November sales of 6,071, up 69.9 percent compared to November 2012.
http://media.mitsubishicars.com/releases/4a5cc8ad-17e1-405a-abd6-f31912681085
Mitsubishi Motors Sales Climb Nearly 70 Percent in November
– Best November Sales Total Since 2007 –
Mitsubishi Motors North America (MMNA) today reported November sales of 6,071, up 69.9 percent compared to November 2012.
Could also be the redonk lease deals on the EVOs currently.