Chris L

I knew they were in trouble, but I didn't think it was that bad

Apparantly they are facing bankruptcy or enforced sale because DaimlerChrysler have refused to bail them out. Mitsubishi will have losses of approx 70 billion yen this year and DaimlerChrysler have in effect written off their investment of £1.4 billion.

Would be sad to see them go

Chris

wacky.banana

If this is true then it would indeed be sad to see them go, for no other reason than they have been singularly responsible for getting Subaru to get off their collective ar$ses and push the performance envelope out to what we should expect from the brand.

Sadly all that will happen if the competition disappears is that they will rest up on their laurels again.

Can you point to a thread that has a definitive view on your post please?

ta

WB

Chip

http://www.freep.com/money/autonews/...4_20040424.htm

Chip

yoza

Something else for ford to buy......

Or should I say the 'Premier Automotive Group' or PAG.

You will hear alot more about PAG soon.

sti-04!!

Picked up my new warrior yesterday(sits nice nxt to the scoob) & would be very sad to see mitsi go but i dont think it'll come to that

Stephen

Chris L

WB - my post was based on information in the Saturday Telegraph business section.

Chris

clarence

They are in a very bad situation. They never recovered in their domestic market after the recall scandal (they covered up nearl all necessary recalls from 1977) a few yrs ago, & they lost a lot of money in the US market last year (due to losses stemming from excessive credit granted on new car sales). U'll notice that some of their products are rather long-in-the-tooth, for example, the Galant should have been replaced years ago. Daimler Chrysler did say they wanted majority shareholding in Mitsubishi, but it seems the other shareholders did not agree on that.
So what now for Mitsubishi?? I guess either the Japanese government will bail them out, or some other company make buy it. The Chinese may take a shot at buying up DCX's share.

mart360

Yoza

whats wrong with PAG (hehehe)

keeps me in a job......

Mart

Flat 4x4

Just to add to the comments above, if Daimler Chrysler have decided NOT to up their stakeholding / buy them out, they really have got to be in the serious doo-doo.
I say this as D.C have some big links with Mitsubishi - platform sharing on the new Smart ForFour, Canter vans & trucks etc.

This sounds like doom if DC are prepared to (as mentioned above) give up their investment and medium term strategy. GULP

Chris L

DCs shares went up big time, when it was announced that they wouldn't bail them out - effectively withdrawing from the Japanese market. I think the analyst view has been that this investment was a bit of a lame duck from the start. It could even cost a few very senior board members of DC their jobs too.

Chris

Brit_in_Japan

Been speaking with J-mate here today and clarence has summed it up just about perfectly. Apparently Mitsubishi's reputation in Japan is so bad that if someone offered you a Mitsubishi for free, most would refuse

There is a big question mark hanging over MMC right now and it seems the government may not step in to help. Other parts of the Mitsubishi group are unaffected, the truck & bus division, the aerospace division etc. The WRC campaign could well be an early casualty, it's looks like an unnecessary expenditure considering the company itself is at risk (and the fiasco in NZ did not help their cause). They may decide to continue with the Paris-Dakar rally-raid type support where they continue to be successful.

Not looking too good.

StickyMicky

even the evo??

if sumbody offerd me one for free i would take one

use the scooby one day and the evo the next, would be the best of both worlds

clarence

The problem is, MMC is heavily in debt, & they were losing big money for quite a while. DCX cannot throw good money after bad money as Chrysler is already underperforming.

Simon Lau

LOL @ StickyMicky...Oi get in line sunshine!

OK lads, we can't let this happen to people who have helped pushed Subaru to where it is today. Without Mitsubishi, Subaru would not be the name sake or the Japanese racing powerhouse it is today . So I propose a quick whip-round for old times?

Please sign your name and amount pledged and then perhaps the Japanese Government can foot any shortfall:

1. Simon Lau: 2p