Will Mitsubishi Survive?

[Jag_Warrior]

Last Chance (http://www.freep.com/money/autonews/mitsu22e_20040522.htm)

[Robstar]

Yeah I think Mitsu will be fine...

I just feel sorry for the 3 & a half thousand Adelaide workers who found out they could be potentially out of a job - WHEN THE MEDIA OVER HERE FOUND OUT !

:shakehead :shakehead

Always had a lotta respect for Mitsu... Dad & his Dad worked for BHP Steel - when they made the Magna (& others) that were released in Oz... they were designed & built here & marketed as using Aussie Steel...

Needless to say, we all drove 'em - cause they make good cars...

I realise that our (& NZ) market is a p__s in the ocean, but I just can't believe they would screw such a loyal (albeit tiny) market...

OK - over it now... :)

(had a few bevvies this eve)

Still hanging out for an Evo 8 though !! :D

[Ankf00]

I read an article like that in the Times last week, it also said most of their losses came from their financing arm offering ultra-low interest loans to virtually anyone and then having so many people with bad credit default on them.

Would be sad to see the evo go after it just finally sailed to these shores

[JLMannin]

I read an article like that in the Times last week, it also said most of their losses came from their financing arm offering ultra-low interest loans to virtually anyone and then having so many people with bad credit default on them.

Would be sad to see the evo go after it just finally sailed to these shores

Well, thay were marketing almost exclusively to the 2-fast-2 Furious punks with zero down, zero percent 12 month no payments financing. That type of deal would appeal to people who know they cannot afford a new car in the first place and can't think about what they will be doing next week, let alone a year from now.

[oddlycalm]

Their biggest problem is going to be regaining any level of trust in their own domestic market. The dishonored themselves to a degree that's hard to grasp for those of us in North America. Being a niche player in offshore performance markets and concentrating on China, which is in the middle of a one-time boom market of finite duration, is a short term fix bandaid fix for a long term problem. Also, keeping in mind how very difficult it is for companies that don't have high profile racing programs to be taken seriously in the performance car market worldwide, relying on that segment seems like a false hope. Outside of WRC, Mitsubishi hasn't been a player in racing.

I see two core issues. One is that the Mitsubishi name doesn't stand for anything in overseas markets, and it is now a liability in their home market. Second, their product line is made up of also-rans in every segment. Fixing this will require making over the corporate imagine from the ground up, and I would use a different name were I doing that, such as Fuji does with their Subaru brand. I would want a succcessful high profile racing program to help with global awareness and technical image, and I would want to overhaul the product planning department and get some people with some real creative juice in there. They have secured enough money to assure their medium term future, now their only hope is to roll out top tier products in every market segment and make sure that the public sees them as top tier.

oc

[racer2c]

I have a 2001 Eclipse GT. Bought it from my local Mitsi dealer right off the show room floor. It had 3 miles on the odometer. I just ticked off 95K this week commuting 140 miles a day in horrendous traffic and me doing my best Paul Tracy impersonation. I run Mobil 1 synthetic and Mobil 1 filters and haven't had one problem with this car. Not a squeak. Not a rattle. Not a single mechanical problem. Quite a car.
I stopped by the dealer last month before I bought our new V8 4 door Dakota pick up to look at their SUV's. The fully loaded Montaro was very impressive, but the V6 power was below my needs.
They had a fully loaded '03 Diamante for $21K which I was blown away by. I almost bought it on the spot. I even took my wife back to look at it later that evening. Both times I was there that day, I was the only customer. Three salesmen and me. I even asked them if it was slow and they pointed out the window to the Honda and Toyota dealer next door. They said they are the best kept secret in the States. No one knows them.
I think their new line-up is very boring though. The Eclipse is still a hot seller but due for a redesign. The SUV's are decent but over-priced and under powered. Their cars, for the most part are fleet rentals.
I won't be buying another one as much as I have enjoyed my Eclipse.

[devilmaster]

I read an article like that in the Times last week, it also said most of their losses came from their financing arm offering ultra-low interest loans to virtually anyone and then having so many people with bad credit default on them.

One of the old comments about AMC in its final years........


Why does AMC offer 0% interest? Because they have 0% interest.

Steve

[Tall1]

I certainly hope the plan works. Last year, the local Mitsu dealer (my employer) did $1M expansion to acquire the franchise. We can't keep Mitsu's in stock. We also do quite a bit in Mitsu parts sales, primarily because of a shortage of other dealerships. FWIW, the dealership also handled Daewoo.

[Ankf00]

a shame they never found a way to cut emissions on their Direct-Injection Spark Ignition engines, ingenious design, low emission DISI would've raked in $$$$$

[Classic Apex]

All I know is, not too soon after college I bought a '97 Galant GS. Other than the fact that it was an automatic (I will NEVER own another automatic), it was by far a GREAT car. I unloaded it once I discovered I would have to replace the front suspension (turns out the previous owner nailed something and bent the frame).

After that body-style, man...Mitsu has produced some of the freakin' ugliest cars ever produced in my opinion.

Its a shame what's happened to Mitsu. :shakehead

[sundaydriver2]

I have a 2002 Montero and thing is awesome. I do some off roading when I go deer hunting and thing handles very well off road. I have never had a problem with power either. I wouldn't want a V8 especially with gas prices the way ther are.

All in all have had no problems with the car and hope they don't go out of business because they make a great car.

Sure beats the **** of the POS Honda I had a few years back. What a bucket a bolts.