Post-Chrysler Mitsubishi Shows First Profit in Three Years
Mitsubishi, once the poster child for how to kill an auto company, is on the rebound. Bloomberg reports that Mitsu posted a 14 percent gain in global sales during the last financial quarter. That's higher then even Toyota, who only posted a 3.4 percent gain. Proving there's life after [Chrysler's] bad management and marketing decisions, covering up quality issues and offering lackluster products, the company showed their first profit in three years for the 12 months ending March 31. Mitsu credits "re-establishing public trust and boosting quality" for the recovery. While sales are climbing on the world scene, it's a different matter on the home front. Sales in Japan are down 16 percent, reflecting an aging population and shrinking market. Come to think of it, this all sounds like a couple of American manufacturers whose overseas sales are keeping the home-market operation afloat.. Huh.
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Positive sign or the last shot of adrenaline left in a soon dead horse? Methinks it is the latter. The fact that they had a large sales increase after their only product with legs (lancer) got a redesign is not a shock. They have some work to do. The '99 eclipse was their last great product. What I would give for a reasonably priced sporty coupe with good driving dynamics.
The new Lancer is quite handsome, and the rumored Ralliart version they might come out with to rassle with the WRX and Mazdaspeed 3 (and the... uh... Cobalt SS haw haw) might do them right. I've had great respect for Mitsubishi ever since my mom drove a Plymouth minivan for 12 years with a Mitsubishi engine and failed to kill it after years of neglect and mistreatment. Now if they can get back on track with a proper Eclipse and revive the 3000 GT, the Fast and the Furious crowd might have to pony up for a new Mitsubishi.
Hoonda owns the Fast and the Furious crowd.
"Proving there's life after [Chrysler's] bad management and marketing decisions" I disagree. Chrysler (and really Daimler) never had that much control over Mitsubishi. Steven Lang got it right. Their troubles were their own and could have been avoided.