The end of Mitsubishi?
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The end of Mitsubishi?
i heard some rumer that they wont be making anymore cars. is this true?
http://story.news.yahoo.com/news?tmp...subishi_motors
http://story.news.yahoo.com/news?tmp...subishi_motors
Going Under
Yeah in the news there was something about Mistubishi being one of the last independent auto makers. Because of this fact, they are struggling to compete and might go under. Warranties should still be honored but sales will end.
Keep an eye on the EVO prices...they might plummet just prior.
Keep an eye on the EVO prices...they might plummet just prior.
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I very much doubt a company with brand recognition as strong as Mitsubishi would be allowed to go under. Someone would acquire the company before this could happen; building a huge brand with 30+ years of name recognition is something almost no companies get a chance to do, and there are a number of potential partners (even Hyundai or Daewoo) who could keep Mitsubishi alive.
What really killed the company was their 0/0/0 financing deals, when they were giving cars to anyone who walked through the door with ridiculous financing packages. Investors and banks get very nervous when a company is "selling" products on promisary notes, essentially having to hope that people will pay up. If a customer defaults on an auto loan and has yet to pay any interest, then the dealership must eat the cost of repo and the devaluation of the car itself (which would knock a $26,000 car down to about $18,000 in value, after just a few months). Dealers then try to recoup this loss with the main company, which explains how Mitsubishi wound up in debt.
I would think prices on Lancer EVOs would go up, not down -- they would become collector's items. I know that here in Phoenix, which is car city USA (the average is 2.5 cars per household) I almost NEVER see EVOs on the road, while I see WRXs, Mustangs, SRT-4s and other midsize performance cars constantly; they are already pretty rare.
What really killed the company was their 0/0/0 financing deals, when they were giving cars to anyone who walked through the door with ridiculous financing packages. Investors and banks get very nervous when a company is "selling" products on promisary notes, essentially having to hope that people will pay up. If a customer defaults on an auto loan and has yet to pay any interest, then the dealership must eat the cost of repo and the devaluation of the car itself (which would knock a $26,000 car down to about $18,000 in value, after just a few months). Dealers then try to recoup this loss with the main company, which explains how Mitsubishi wound up in debt.
I would think prices on Lancer EVOs would go up, not down -- they would become collector's items. I know that here in Phoenix, which is car city USA (the average is 2.5 cars per household) I almost NEVER see EVOs on the road, while I see WRXs, Mustangs, SRT-4s and other midsize performance cars constantly; they are already pretty rare.
Last edited by meilers; Apr 25, 2004 at 02:07 PM.
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Rumor has it the EVO is already on its way out, making room for the new Eclipse which is supposed to be going back to AWD and maybe turbo. I have heard that the 05 models of the EVO will be the last.
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Originally posted by meilers
I very much doubt a company with brand recognition as strong as Mitsubishi would be allowed to go under.
a huge brand with 30+ years of name recognition is something almost no companies get a chance to do, and there are a number of potential partners (even Hyundai or Daewoo) who could keep Mitsubishi alive.
I very much doubt a company with brand recognition as strong as Mitsubishi would be allowed to go under.
a huge brand with 30+ years of name recognition is something almost no companies get a chance to do, and there are a number of potential partners (even Hyundai or Daewoo) who could keep Mitsubishi alive.
with the exception of maybe 2 cars. . . their cars are crap. and mitsubishi admitted that 4 years ago-
Mitsubishi Motors' image never recovered after it acknowledged four years ago that it had systematically hidden auto defects for decades and announced a massive recall.
That CEO needed to be fired, he came to mitsu to revive the company but instead he made it worse.
Nissan revived from near death and Mazda seems to be on the way out, this guy from daimler chrysler did nothing.
I hope Mitsubishi put itself together again and comes back strong.
Mitsubishi needs to fire old management. They got technology and name up there, they only needs good management.
Nissan revived from near death and Mazda seems to be on the way out, this guy from daimler chrysler did nothing.
I hope Mitsubishi put itself together again and comes back strong.
Mitsubishi needs to fire old management. They got technology and name up there, they only needs good management.
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i also read an article on msn that mitsubishi is in a 1 trillion yen debt. which is pretty damn huge.
posted something about it in the hawaii forum
posted something about it in the hawaii forum
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Live mid-market rates as of 2004.04.28 15:40:10 GMT.
1,000,000,000.00 JPY
Japan Yen
_
=
_
9,113,901.991 USD
United States Dollars
Not too bad. I'm sure you are misquoting that article a little bit.
1,000,000,000.00 JPY
Japan Yen
_
=
_
9,113,901.991 USD
United States Dollars
Not too bad. I'm sure you are misquoting that article a little bit.
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If Mitsubishi is going under, why would they be making the new Lancer Evolution RS and the MR? I agree that they really don't make good vehicles but they'll probably get bought out by some company like Ford. 
Anyways, I guess we'll just have to see what happens.:banana:
Anyways, I guess we'll just have to see what happens.:banana:
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i wouldn't like to see them go i like the whole comp thing between mitz and subies its fun oh well.. i grew up around the real mitz in panama not the ones from the states and those ones are much more fun!!!
