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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..
History
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 1970s. Some Chrysler cars use Mitsubishi componentry, but have been gravitating toward more use of Mercedes-Benz componentry, which is considered superior.
For many years, Mitsubishi did not sell in North America under its own brand. That began changing in the United States in 1982. Many of Mitsubishi's early exports bore Chrysler brands such as Chrysler Valiant (in Australia), Dodge and Plymouth. In some countries, Colt was used as the marque. In the late 1980s, the Eagle brand was used for some Mitsubishi products in the US.
Mitsubishi has also exported car platform designs and manufacturing know-how to Hyundai in South Korea and Proton in Malaysia.
Financial troubles
Mitsubishi has recently fallen on hard economic times. With the exception of the 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 their car loans, especially on expensive sports cars like the Eclipse and 3000GT. Mitsubishi Motor's parent company is dealing with multiple controversies over unfair business practices, the quality of its products, and the mistreatment 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, legitimately 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 per cent 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 immediately cancel the slow-selling Diamante, Lancer Sportback station wagon, Montero Sport, and (in 2005) the Montero in the US market, 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.
Shareholders
Source: 2002 Facts & figures (http://www.mitsubishi-motors.co.jp/docs4/ir/e/ff/2002.pdf)
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
- Mitsubishi Carisma
- Mitsubishi Colt
- Mitsubishi Diamante
- Mitsubishi Eclipse
- Mitsubishi eK (a Keicar)
- Mitsubishi Endeavor
- Mitsubishi FTO
- Mitsubishi Galant
- Mitsubishi Grandis
- Mitsubishi GTO (US name: 3000GT)
- Mitsubishi Lancer
- Mitsubishi Lancer Evolution
- Mitsubishi Magna
- Mitsubishi Minica (a Keicar) (also sold as the Mitsubishi Lettuce, Mitsubishi Town Bee, Mitsubishi Towny, and Mitsubishi Pistachio)
- Mitsubishi Mirage (also known as Colt)
- Mitsubishi Outlander
- Mitsubishi Pajero (renamed as the Montero in Spain and the Americas, and Shogun in the UK. See this page (http://chameleon-translations.com/Index-Companies-pajero.shtml) for reasons)
- Mitsubishi Pajero (Montero) Sport
- Mitsubishi Pajero Mini (a Keicar), and Mitsubishi Pajero Jr., slightly too large for a Keicar (also sold as Pajero Mini Iron Cross, Pajero Mini Desert Cruiser, Pajero Mini White Skipper, Pajero Mini Duke, Pajero Jr. Mc Twist and Pajero Jr. Lynx)
- Mitsubishi Raider pickup truck (2006)
- Mitsubishi Sapporo (sold in North America as Plymouth Sapporo and Dodge Challenger)
- Mitsubishi Space Wagon
- Mitsubishi Space Star
- Mitsubishi Starion
- Mitsubishi Tredia/Cordia
See also
External links
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