Finally - is Mitsubishi Leaving North America?

[cincygoblue]

Full Article: http://www.japantimes.co.jp/cgi-bin/...20050219a4.htm

MMC asking around for buyer of U.S. operations

Struggling Japanese automaker Mitsubishi Motors Corp. is quietly seeking a buyer for its U.S. operations, implying the company intends to leave the world's biggest car market, the Asian Wall Street Journal reported Friday.
Mitsubishi Motors' new president, Osamu Masuko, traveled to Detroit in January to begin talks with potential buyers during the North American International Auto Show, the business daily said, citing people familiar with the matter.

Masuko was accompanied by Yasushi Ando, head of Tokyo-based investment fund Phoenix Capital Co., which holds a 21.2 percent stake in Mitsubishi Motors, the sources were quoted as saying.

Masuko and Ando met privately with several industry executives, including representatives from U.S. private equity fund Ripplewood Holdings LLC, the paper said.

Ripplewood did not show much interest in Mitsubishi Motors' U.S. operations, the sources were quoted as saying.

The talks mainly focused on Mitsubishi Motors' assembly plant in Normal, Ill., and its North American sales unit in southern California, the paper said.

[cincygoblue]

If I've said it once, I've said it 11 times, MMC will go bankrupt. Here's the first (or second or third) tangible sign. Poor Quality, Safety Cover-ups, Executives Resigning, Huge Losses, and on and on. They aren't doing any better in their Heavy Trucks or in their home market.

[griswold44]

I know there going. No one is going to buy their vehicles because of what happend 5 yrs ago when they recalled millions of vehicles that they were supposed to recall over the years but didn't want bad publicity.

[Hudson]

Wait..."Poor Quality, Safety Cover-ups, Executives Resigning, Huge Losses, and on and on"...that could be GM or Ford or Chrysler from the 1970s, and they're all still around.

[parakleets]

Hey GM management! I know that sinking ships, in the guise of unprofitable foreign car makers are very attractive to you, but please don't buy Mitsubishi or any part of it!

[Ming]

Bad reputation + ugly stick = bad news for Mitsu.

[Kar Krazie]

Good. They hardly have any good products anyway. I don't think they will be missed much. R.I.P. Mitsubishi Too long ago-2005.

[04bonnie]

Originally Posted by Kar Krazie

Good. They hardly have any good products anyway. I don't think they will be missed much. R.I.P. Mitsubishi Too long ago-2005.

I agree with you, I don't like them either. But, how about all those tuner dudes with their Mitsubishi Evos? They seem to like the cars. Guess they will be lacking a product to do "Fast and Furious" with.

[gotz_otto]

Ha Haa!

[member12]

before someone mentions it:

GM should not buy Mitsubishi

There is not a thingk they have that would be useful to the GM lineup. they are losing cash faster than GM and should be shut down.

Please dont' buy this like you almost did to fiat.

[mk1700]

Originally Posted by parakleets

Hey GM management! I know that sinking ships, in the guise of unprofitable foreign car makers are very attractive to you, but please don't buy Mitsubishi or any part of it!

I agree, even if you want more diesel engines like you do with Fiat! Lol
Listen to me!; DONT BUY IT!!! Lol

[cad1cts]

they recently denied the article's authenticity.

[86fleet]

Originally Posted by Hudson

Wait..."Poor Quality, Safety Cover-ups, Executives Resigning, Huge Losses, and on and on"...that could be GM or Ford or Chrysler from the 1970s, and they're all still around.

The biggest difference between Mitsu, and the Big 3 is that the American companies are much larger. Also, cars today are far more reliable in general, so poor quality is tolerated far less. Finally, the majority Mitsu's dihard fans only seem to like the evos and eclipses, where as GM's, Ford's and Chysler's diehard fans continued to buy their companies bread and butter cars. Of couse, I wasn't alive back then, so I could be wrong about this.

[FusionSVT]

Originally Posted by Hudson

Wait..."Poor Quality, Safety Cover-ups, Executives Resigning, Huge Losses, and on and on"...that could be GM or Ford or Chrysler from the 1970s, and they're all still around.

they also had millions (if not billions) in reserves and controlled 90% of the automotive market so its suffice to say that the situations were different.

[FusionSVT]

Originally Posted by Ming

Bad reputation + ugly stick = bad news for Mitsu.

whoever approved that design for production must of been on something