Mitsubishi Is In Trouble !
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Mitsubishi Is In Trouble !
This should add some fuel to the debate that was going on about Mitsu.. Looks like they are not doing to well.
http://www.freep.com/money/autonews/...e_20040617.htm
TOKYO - Shaken by a cover-up scandal and several recalls, Mitsubishi Motors Corp. said Wednesday it would slash paychecks and reduce other costs to make up for an expected plunge in car sales.
CEO Yoichiro Okazaki said the series of recalls since a corporate turnaround plan was announced last month will likely reduce domestic sales for the fiscal year ending March 31, 2005, to 220,000 vehicles. That's a 40-percent drop from the previous year and down from the initial target of 300,000.
The Tokyo-based automaker expects a similar sales decline in the next fiscal year, trimming 60 billion yen ($548 million) from the company's operating profit this year and next.
The reputation of Mitsubishi Motors was already tarnished by a recall cover-up scandal spanning decades that emerged in 2000. But in recent weeks, it has admitted it continued to hide defects in recent years and announced recall after recall, affecting 370,000 vehicles and most of its models.
"There may be further recalls, and car sales are very sensitive about such scandals because of possible accidents that could mean life or death," said Shinji Kitayama, auto analyst at Shinko Securities in Tokyo.
In April, partner DaimlerChrysler AG, which owns a 37-percent stake in Mitsubishi Motors, said it was no longer willing to pump cash into the Tokyo-based automaker.
http://www.freep.com/money/autonews/...e_20040617.htm
TOKYO - Shaken by a cover-up scandal and several recalls, Mitsubishi Motors Corp. said Wednesday it would slash paychecks and reduce other costs to make up for an expected plunge in car sales.
CEO Yoichiro Okazaki said the series of recalls since a corporate turnaround plan was announced last month will likely reduce domestic sales for the fiscal year ending March 31, 2005, to 220,000 vehicles. That's a 40-percent drop from the previous year and down from the initial target of 300,000.
The Tokyo-based automaker expects a similar sales decline in the next fiscal year, trimming 60 billion yen ($548 million) from the company's operating profit this year and next.
The reputation of Mitsubishi Motors was already tarnished by a recall cover-up scandal spanning decades that emerged in 2000. But in recent weeks, it has admitted it continued to hide defects in recent years and announced recall after recall, affecting 370,000 vehicles and most of its models.
"There may be further recalls, and car sales are very sensitive about such scandals because of possible accidents that could mean life or death," said Shinji Kitayama, auto analyst at Shinko Securities in Tokyo.
In April, partner DaimlerChrysler AG, which owns a 37-percent stake in Mitsubishi Motors, said it was no longer willing to pump cash into the Tokyo-based automaker.
7M 2JZ bird in pear tree
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There new cars are okay, but the way the're treating EVO8 owners...
My friend says pretty much every car company has done this. This is why Mitsu has other corps like electronics to back it up. This sort of thing was around even when DeLorean was making cars. It didnt work for him, but thats only because GM is a bunch of greedy satanic assholes
My friend says pretty much every car company has done this. This is why Mitsu has other corps like electronics to back it up. This sort of thing was around even when DeLorean was making cars. It didnt work for him, but thats only because GM is a bunch of greedy satanic assholes
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Yea..that very well could have been the most retarded idea I've ever heard, but .. do it anyway. -TheShow50h
ASE: Brakes
Yea..that very well could have been the most retarded idea I've ever heard, but .. do it anyway. -TheShow50h
