Mitsubishi Motors

Mitsubishi Motors Corporation ( MMC ) is a company which belongs to the conglomerate or " keiretsu" Mitsubishi group. It is chaired by Takashi Nishioka. MMC in its best years, was regarded as the 4th Japanese car manufacturer, it is today 6th.

History

Mitsubishi , means: Mitsu = three and hishi = " water caltrop commune" , employed in Japan to qualify a diamond or a rhombus. Mitsubishi was founded in 1873 by Yataro Iwasaki. it is a " keiretsu" or literally conglomerate of several companies. The first car Mitsubishi, built by Mitsubishi Heavy Industries appears in 1917. Based on the FIAT Tipo 3 its name is Type A. The latter being entirely built according to an artisanal mode, it cannot compete with of the same vehicles category, manufactured according to the methods of modern production of the time like the Taylorisme, of which profits from many marks such as Ford with its Ford T (1907-1927), but also in France, the cars Mors which will become into 1919 the cars Citroen. The " A" type; thus disappears in 1921, after having was produced with only 22 specimens.

It is only into 1937 that Mitsubishi Heavy Industries (MHI) again develops a truck 4x4 of military use called PX33. After the second world war, it will have to be waited until 1970 so that Mitsubishi rebuilds a motor vehicle under its name. And it will be within the framework of a Baptisée new business: Mitsubishi Motors corporation . During its recent history, MMC have many times collaborated with other automobile marks. There was initially Chrysler in 1971, then Hyundai in South Korea, Proton in Malaysia, Volvo with which Mitsubishi Motors will share the exploitation of the largest factory of the Netherlands located at Born, before having the whole property in 2001 of it.

Thanks to these alliances and during the Seventies, Mitsubishi Motors increases its production of vehicles of five hundred percent . But its strong establishment in the South-East Asia will be to him fatal. In 1997, the company undergoes " full fouet" the Asian financial crisis which will make it kneel in front of a " Prédateur" (term employed at the time to designate the automobile transferees of companies dying women).

It will be Daimler-Chrysler; in the search of a manufacturer general practitioner of small-engined cars to manufacture its Smart forfour , which will collaborate with Mitsubishi Motors in Born in the Netherlands. In fact, between the years 2000 and 2005, Mitsubishi Motors falls under the cut from the German giant Daimler-Chrysler.

That will be one dark period for Mitsubishi Motors, which will make dramatic errors of appreciations, on the potential of harmful effect of some very good lawyers of its new majority shareholder with 34%.

In 5 years, Mitsubishi motors will see its sales of vehicles crumbling of 50% (VL & PL) and will be amputee, in 2005, of 85% of its mark of truck Mitsubishi Fuso drunk trucks and corp (Japanese N°2) that the world number one Daimler - trucks will swallow without sourciller.

Last economic situation

MMC knows serious difficulties to run out its productions of vehicles and the bad publicity made by the posted dissensions of the couple " germano-nipon" do not arrange anything with the business. In 2002, under the aegis of its president of then: Mister Kawasoe implied with 23 other people in a scandal of dissimulated defects which causes the recall of 800.000 vehicles in the world, Mitsubishi Motors loses up to 60% of share on his domestic market, like 54% in North America. Three years later, MMC are " lâché" by its majority shareholder Daimler-Chrysler following a capital growth which sees its participation diluted in MMC of 34% in less than 25%, after being gone up to 37,3% within the framework of a compensation for " vices" hidden in the company Mitsubishi Fuso drunk trucks and corp in which Daimler-Trucks had just taken an important participation.

The value of the company not ceasing depreciating itself during the months which follow; in November 2005, Daimler Chrysler balance with a rebate of 18% 12,42% (548,4 million actions) of participation that it remains to him, at the American bank of businesses Goldman Sachs for only 500 million euros.

Current economic situation

Mitsubishi Motors Corporation was saved bankruptcy by the power of its group, and the participation very interested of the bottom of Capital Phoenix investment and the bank of JP Morgan Chase businesses.

In 2006, only the " keiretsu" : Mitsubishi group, remained shareholder of MMC with 38,21% of the capital. The principal companies shareholders are:

the company which gave birth to it, Mitsubishi Heavy: 15,3%
Mitsubishi Corp: 14,11%
the bank of Tokyo-Mitsubishi: 4,89%
various other companies of the " Keiretsu" : 3,91%

Mitsubishi Motors corporation knows a significant decrease of its sales of cars on many worldwide markets. They were, in 2006, of 860.000 vehicles, including only 3.112 for France.

In July 2007, MMC recorded for the 1st time since 2002, an annual benefit of 73 million dollars thanks to the sales of its S.U.V " Outlander" ; Japanese cousin of the S.U.V Peugeot " 4007" and Citroen " C-Crosser".

The company in the world

Mitsubishi Motors Corporation has factories in several countries:

2 in Japan with Nagoya and Mizushima,

1 in Thailand with Phathunphamée,

1 in Philippines with Cainta,

1 in the Netherlands with Born, (NedCar)

1 in the United States with Normal in the state of Illinois HTTP: /www.clean-auto.com/spip.php?article3405 1 in Australia; " park of Clovelly" Australia of the south,

1 in China in Beijing and product of the models " Colt" and " Pajero" minis; in Italy in the factory " Pininfarina" of Turin.

New collaborations

MMC and PSA Peugeot Citroen signed a letter of intent on February 4th 2005, transformed into final agreement on July 11th, for joint manufacture in Japan of a model derived from the Mitsubishi Outlander. The Japanese model was sold on the archipelago at the end of 2005, whereas the French derivatives, sold under the marks Peugeot and Citroen were to it in July 2007, with a diesel engine 2,2L of 160 Ch which will equip Japanese 2007 at the end of the year.

Other collaborations between PSA and MMC could be born in the months which come, and in particular in the design of a new platform common to Mitsubishi Galant and the news Peugeot 408 planned for the year 2008, which will be assembled in the United States in the factory Mitsubishi Motors de Normal in Illinois.

One lends to Peugeot the intention to make his return to the the United States by taking less possible risk, thanks to the networks of the 600 dealers Mitsubishi Motors and the presence of a S.A.V which proved its effectiveness. Moreover, One manufacturing plant from 20 to 30.000 vehicles per annum would be in forecast in Russia. This investment carried out close to Saint-petersbourg, would be done with the financial participation of group PSA. [http://www.latribune.fr/info/Peugeot-pourrait-s-associer-a-Mitsubishi-en-Russie-~-IDC3967D13E471B129C125739A003D0E17]

Mitsubishi motors has been associated for several years, with the Indian company of automotive engineering: Hindustan Motors of the group BIRLA CORP Ltd which manufactures of Mitsubishi " Lancer" and " pajero" as well as engines and gear boxes for Isuzu Motors.

Future of the company

After having yielded in 2004 the majority of its shares (85%) in its mark of trucks Mitsubishi Fuso drunk trucks and corp to Daimler-Chrysler, Mitsubishi Corp, became the principal shareholder of the Japanese specialist in the diesel Isuzu Motors Ltd by increasing its participation in 15,65% of the capital.

Mitsubishi Motors and Isuzu Motors Ltd produced together a new diesel engine with turbo with variable geometry of 1,8l, which will equip the future " petit" SUV (Concept cX) [http://news.caradisiac.com/Mitsubishi-concept-cX-pour-Francfort-151] of the mark in 2008. Moreover, Mitsubishi Motors " sortira" at the beginning of 2009, a new diesel engine 2L which will equip the " Lancer".

Isuzu is also the first manufacturer in the world for the commercial vehicles until 6T with 183.000 unit and for the vehicles of the average range of 6T until 16T with a production of more than 75.000 vehicles.

In 2007, Mitsubishi Motors gained for the 12th consecutive time the rally raid " Paris Dakar" , famous most difficult of the world.

Beyond its activity of car manufacturer, the Keiretsu Mitsubishi Group, composed of more than 260 various companies, takes part for 10% in GNP of Japan which was into 2003 of 4256,58 billion Dollars.

See too

Current models

Mitsubishi eK, town, best-seller of Mitsubishi in Japan.
Mitsubishi I, town ovoid with back engine.
Mitsubishi Colt, small truck, produced in Japan and in Europe in the Netherlands (bases divided with the ex-Smart Forfour).
Mitsubishi Grown, large monospace.
Mitsubishi Eclipses, half-compartment or convertible intended for the US market, renewed in 2005.
Mitsubishi Lancer, average truck, renewed in 2007 (called Galant Fortis in Japan).
Mitsubishi Lancer Evolution, sporting truck, renewed at the end of 2007 in Japan (Evo X).
Gallant Mitsubishi, large truck.
Mitsubishi L200, record player.
Mitsubishi Outlander, SUV renewed in 2005 in Japan and started again in 2007 in Europe. Is used as a basis for Peugeot 4007 and Citroen C-Crosser.
Mitsubishi Pajero, 4x4.
Mitsubishi 3000 WP, crossed sporting (stopped production).
Mitsubishi Montero, 4x4.

External references

the site
Mitsubishi Eclipses

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