Mitsubishi Motors
Mitsubishi Motors Corporation (in Japanese: 三菱自動車工業, in romaji Mitsubishi Jidosha Kogyo Kabushiki Kaisha) is a Japanese automobile company, manufacturing an extensive range of cars and trucks (see Fuso). Mitsubishis are manufactured globally and exported into most major markets, including the Far East, Europe, and the U.S..
Mitsubishi has been engaged in a long-term venture with Chrysler (now DaimlerChrysler), assembling a series of cars and trucks for Chrysler brands since the early 1980s. Some Chrysler cars use Mitsubishi componentry, but have been gravitating toward more use of Mercedes-Benz componentry, which is considered superior.
Mitsubishi has also exported car platform designs and manufacturing know-how to Hyundai in South Korea and Proton in Malaysia.
Stakeholders:
- 40% Phoenix Capital
- 25% DaimlerChrysler
- 14.95% Mitsubishi Heavy Industries
- 5.26% Mitsubishi Corporation
- 4.62% Lancer Evolution rally homologation car and Endeavor SUV, sales have dropped drastically, especially in the critical US 18-35 youth market the company once had a hold of. Ironically, the US youth market aided in the company's economic misfortunes because young buyers would default on thier car loans, especially on expensive sports cars like the Eclipse and 3000GT. Mitsubishi Motor's parent company is dealing with multiple controversies over unfair buisness preactices, the quality of its products, and the mistreatemt of employees (for more details, see Mitsubishi article). Mitsubishi is also facing accusations of actively searching for the names of drivers who race their Lancer Evolutions in order to void their warranties (car companies usually void warranties if they find out the customer has raced the vehicle, legitimatly or not). DaimlerChrysler has refused to buy more Mitsubishi stock than it already has, and the company is scrambling to develop more cars to both retake the youth market and compete in the mainstream market against companies such as Toyota and Honda. DaimlerChrysler have recently (July 2004) announced they are to sell their stake in Mitsubishi.
Mitsubishi's sales in the important US market dropped more than 45% between 2003 and 2004, and the company has fallen behind Mazda in terms of total US sales.
In July, 2004, Mitsubishi announced that it would immediatly cancel the slow-selling Diamante, Lancer Sportback station wagon, Montero Sport, and (in 2005)Montero, and would scale back purchase projections for the Mitsubishi/Hyundai/Chrysler Global Engine Manufacturing Alliance engines. In August, 2004, Mitsubishi announced that it would not continue with a plan to have DaimlerChrysler produce a minivan for it. It will, however, get a version of the Dodge Dakota pickup truck, and will continue work with DC on future small cars.
Currently, Phoenix Capital has announced intentions to purchase a larger percent of Mitsubishi stock and turn the company into an exclusive manufacturer of sports cars and trucks/SUVs. At this point however, this plan has not been put into action.
Locations
- in Japan
- Shinagawa 品川 and Tamachi 田町 (Tokyo) Headquarters
- Tama 多摩 (Tokyo) Design
Plants
- in Japan
- in the USA
- in Australia
Car models
