Mtcs

Can i put a deposit on an MR now and have the dealership hold it for me until march, when i plan to pay for the vehicle in full. Is that possible? or will the dealership just sell the car to a customer wiht all the cash available at hand...

Thanks

Keyser Soze

iTrader: (2)

If you put ALOT down a dealership MIGHT do it . . other than that they are not going to hold a car for a 1000-5000 deposit mostlikley. If they can make the sale get their money and have the vehicle off their lot they will deffinitly go for that i would think

Tr_EVO_r

highly unlikely

cmf

Of course, if I owned a Mitsu dealership, I'd take every penny I could today because I may be skipping out on all my creditors next month. Mitsubishi has cancelled three of its current vehicles (Diamante, Montero Sport, and one other), not replacing them with any, and laying off buttloads of employees. Mitsu dealerships are closing in many places (one of the three here in my city just did) and I don't see things turning around any time soon. Buying a Mitsu today is for people who like doing all their own maintenance and don't mind not having a warranty.

jason@NTEC

iTrader: (1)

they only get 90 days free flooring on their floorplan, they're not going to pay interest on a car they could just sell instantly instead of waiting for someone to finish paying for it in march. their are only going to be 800 MR's they wont last very long.

viperevofreak

Hey does anyone know anything about the 2005 Evos not the MR? What will be the big difference between the two? and their is only going to be 800 total in the U.S? Do they plan on bringing more?

BHENKEL

I think you may be over doing it a bit. Mitsu just had one of their best retail months in the last two years. As for the Montero Sport and the Diamonte they were scheduled to go away and the dealers knew about this for the last 2 years. They are also adding a pickup truck at the end of 05 and the new Eclipse is also due out in mid 05. Not to mention that they are going to be building almost all of Chryslers small carsover the next few years. The reason a lot of stores have been closed is because they made their money off of Mitsu's old program of giving out loans to people who should never have been able to finance a car. When they couldn't do that anymore they couldn't make the amount of money they used to. If you look at what Mitsu is doing right now they will be fine over time. It will probably take 2-3 years before they are back at the level they were before the credit arm got so crazy with their losses.

cmf

Maybe, but I don't think Mitsu will regain its market share that quickly, if at all. It wouldn't surprise me one bit if they pulled an Isuzu and just abandoned the US car market entirely, at least for a while. I haven't bothered to check Mitsu Motors' financials, but I'd be surprised to find them able to invest in much of anything -- car designs, new plants, whatever -- for the next few years. My local dealership said they don't expect the new Eclipse until 2006 given the inventory on the current Eclipse that Mitsu is currently trying to get rid of (and Eclipses don't make great rental fleet cars). As someone who analyzes companies and markets for a living, I certainly wouldn't buy Mitsu stock right now, and I'd definitely think twice before buying their products.

Crazy29187

As someone who analyzes companies for a living, you should check those financials first before saying whether you'd buy Mitsu. Didn't the stock drop like a rock after the news that Daimler pulled out on the financial support? Didn't they eventually secure that financing? Don't stocks usually have some sort of correction when getting beat down, hence value investing?

BHENKEL

Exactly my point, oh and the chairman of the company just issued a press release saying that based on current sales that they should return to profitability in the 4th quarter of this year. The new Eclipse and truck are also on schedule as of this time.