SoCalMike said:
neither car is sold in america.
mitsu is going up in flames, though. theyre the weakest of the japanese
automakers and have the fugliest cars. since the takeover,
daimler/chrysler broke most ties to them.
That's loosely stated, but more or less accurate. D/C got a $180
million refund on its investment in Mitsubishi Fuso, has refused to
make any additional investments, and is contemplating further
lawsuits. Their approach has not helped the $4.3-billion bailout from
other sources that is in the works. Assuming the bailout still goes
through, D/C's stake will be diluted from 37 percent to some 23
percent, buyout specialist Phoenix Capital will own some 40 percent,
and Mitsubishi will still be some $6 billion in debt and losing $2
billion a year, more or less.
D/C will also be divesting its 10% stake in Hyundai. Those whose taste
runs to boardroom gossip see the collapse of D/C's Asian investments
as the handwriting on the wall for Schrempp.
theyre even stooping to hyundai-style warranties, too.
A Southern California Mitsubishi dealer was quoted to the effect that
their marketing is in total collapse: they can't give cars away. The
US situation may still be an improvement on Mitsubishi's troubles in
the Japanese domestic market, where sales are down 56%, 56,000
customer complaints have been reopened, some 540,000 Mitsubishi Fuso
buses and trucks are being recalled (and all 1.3 million in service
are being inspected), and police are investigating the possibility
that 13 accidents were caused by defects.