Looks like Mitsubishi Motors is struggling....
Feb 9, 2005, 03:53 PM
#1
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Looks like Mitsubishi Motors is struggling....
Check it out. My mom knows im gettin an EVO pretty soon and she showed me this paper and freaked out...lol she thinks the EVO isn't worth anything. Just wanted u guys to see it.
Last edited by Ev0 loo shun; Feb 9, 2005 at 03:57 PM.
Feb 9, 2005, 03:59 PM
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mitsu has been struggling forever, dont think they'll go out anytime soon. The evo is well worth the money and you will not regret it. Besides, if the company went out of business which its not, wouldnt that make the car worth more?
Feb 9, 2005, 04:17 PM
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Guys im still getting the EVO, no matter what. im not listening to what my mom thinks about a car, she thinks honda accords are better then any car made 
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Feb 9, 2005, 05:32 PM
#8
From today's Detroit News.....
http://www.detnews.com/2005/autosins.../C03-84191.htm
TOKYO -- Losses at Japanese automaker Mitsubishi Motors Corp. more than doubled to about $2 billion in the first nine months of its current fiscal year, as sales slid amid a recurring recall cover-up scandal.
Mitsubishi Motors also said Tuesday it had reached a preliminary agreement over compensation being sought by key shareholder DaimlerChrysler AG for financial damages arising from the repeated scandals.
Mitsubishi Motors said the preliminary pact calls for it to transfer the remaining 20 percent stake it owns in Mitsubishi Fuso Truck and Bus Corp., raising DaimlerChrysler's stake in the Tokyo-based truck maker to 85 percent from the current 65 percent.
Dow Jones Newswires reported that DaimlerChrysler will get additional cash compensation of about 200 million euros to 250 million euros ($255 million to $319 million).
Neither Mitsubishi Motors nor the German automaker would say how much cash Mitsubishi would pay under the settlement agreement.
Tokyo-based Mitsubishi Motors reported on Tuesday it lost 228 billion yen ($2 billion) for the April-December period, worse than the 103 billion yen loss it racked up in the same period the previous year.
Sales dropped 12 percent to 1.6 trillion yen ($15 billion) for the three quarters, down from 1.8 trillion yen the previous year.
Mitsubishi Motors has been struggling for a decade to boost sales and fight recurring scandals. It appeared to be on a turnaround under an alliance with DaimlerChrysler for a few years, but has been back in deep financial trouble after the German automaker withdrew additional financing last year.
Mitsubishi Motors, which did not break down quarterly earnings figures, kept unchanged its forecast for the full fiscal year ending March 31 for a loss of 472 billion yen ($4.5 billion) on sales of 2.04 trillion yen ($19.5 billion).
http://www.detnews.com/2005/autosins.../C03-84191.htm
TOKYO -- Losses at Japanese automaker Mitsubishi Motors Corp. more than doubled to about $2 billion in the first nine months of its current fiscal year, as sales slid amid a recurring recall cover-up scandal.
Mitsubishi Motors also said Tuesday it had reached a preliminary agreement over compensation being sought by key shareholder DaimlerChrysler AG for financial damages arising from the repeated scandals.
Mitsubishi Motors said the preliminary pact calls for it to transfer the remaining 20 percent stake it owns in Mitsubishi Fuso Truck and Bus Corp., raising DaimlerChrysler's stake in the Tokyo-based truck maker to 85 percent from the current 65 percent.
Dow Jones Newswires reported that DaimlerChrysler will get additional cash compensation of about 200 million euros to 250 million euros ($255 million to $319 million).
Neither Mitsubishi Motors nor the German automaker would say how much cash Mitsubishi would pay under the settlement agreement.
Tokyo-based Mitsubishi Motors reported on Tuesday it lost 228 billion yen ($2 billion) for the April-December period, worse than the 103 billion yen loss it racked up in the same period the previous year.
Sales dropped 12 percent to 1.6 trillion yen ($15 billion) for the three quarters, down from 1.8 trillion yen the previous year.
Mitsubishi Motors has been struggling for a decade to boost sales and fight recurring scandals. It appeared to be on a turnaround under an alliance with DaimlerChrysler for a few years, but has been back in deep financial trouble after the German automaker withdrew additional financing last year.
Mitsubishi Motors, which did not break down quarterly earnings figures, kept unchanged its forecast for the full fiscal year ending March 31 for a loss of 472 billion yen ($4.5 billion) on sales of 2.04 trillion yen ($19.5 billion).
Feb 9, 2005, 06:26 PM
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Don't take this too seriously, it was posted in the Detroit news, those idiots will do anything to make a foreign car manufacturer look bad in the motor city.
Mitsubishi has a great product, the best warranty in the business, and some of the best resale values. You can't go wrong with this.
Mitsubishi has a great product, the best warranty in the business, and some of the best resale values. You can't go wrong with this.
Feb 9, 2005, 07:25 PM
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yeah looks like their sales is really down on the ground, I was @ mitsu dealer today to buy
diaqueen lsd oil and i walk by the showroom, not even a single customer inside thats why
when i walked in every sinlge sales persons eyes were on me thinkin im lookin to buy a car
oh by the way they got lots of evos in the lot including mr's..
diaqueen lsd oil and i walk by the showroom, not even a single customer inside thats why
when i walked in every sinlge sales persons eyes were on me thinkin im lookin to buy a car
oh by the way they got lots of evos in the lot including mr's..
Feb 9, 2005, 07:52 PM
#13
Yeah Mitsu will be around. The new pickup truck shown at the autoshow is much better looking than the Dodge Dakota it is based on. I think it will do well. The biggest problem that they have now is that they are attracting the wrong dealers. Either they are jumping into the Mitsu business to gouge people on Evo's. Or they are in it because Mitsu is bending over backwards to deal with people that aren't able to get with Toyota, Honda, Dodge, Chevy, or other major marks.
I always try to remember that Mistubushi's various divisions make airplane parts, toasters, TV's, LCD monitors, electronic components, and who knows what else. They just finished getting an agreement to sell the rest of their commercial truck stuff that DaimlerChrysler owned a majority share in. So they will lose liability and maybe gain a little efficiency from it.
All the problems they have are the same as Kmart's; bad misleading press. Yes their commercial truck management did criminal things but that is far removed from the passenger car side. The press should have clarified the problems but they get ratings when mitsu goes out of business not when they make it.
I always try to remember that Mistubushi's various divisions make airplane parts, toasters, TV's, LCD monitors, electronic components, and who knows what else. They just finished getting an agreement to sell the rest of their commercial truck stuff that DaimlerChrysler owned a majority share in. So they will lose liability and maybe gain a little efficiency from it.
All the problems they have are the same as Kmart's; bad misleading press. Yes their commercial truck management did criminal things but that is far removed from the passenger car side. The press should have clarified the problems but they get ratings when mitsu goes out of business not when they make it.
Feb 9, 2005, 07:58 PM
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Every one wants the same old sh*t. Also they buy Hondas and Toyotas cause its what everyone drives all day. Most people dont think about cars as more than basic transportation/ lowest monthly payment.
