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Car Forum / Mitsubishi Cars / November 2005Mercedes sold their Mitsubishi shares.
"German carmaker DaimlerChrysler has sold its 12.4 per cent stake in troubled Japanese automaker Mitsubishi Motors. The share was bought by investment bank Goldman Sachs Group Inc. DaimlerChrysler once had a 37 per cent stake in Mitsubishi." " The fate of DaimlerChrysler's reduced ownership of Japan's only unprofitable car maker had been a subject of speculation after the German-U.S. auto giant cut off its financial lifeline to its former affiliate in April 2004. Stuttgart-based Daimler, which still has some close operational tie-ups with MMC such as the joint development of engines and vehicle platform sharing, had repeatedly said it would hold on to its former partner's stake. The partners said existing projects with MMC would not be affected by Daimler's disposal of the shares, adding the companies planned to extend mutually beneficial projects. [...] MMC on Thursday posted a smaller interim loss than it had forecast but offered a cautious outlook for the second half. It still expects to report a loss for the full year to March 2006 in what would be its third straight year in the red. Goldman Sachs declined comment on its purchase of DaimlerChrysler's nearly 548.4 million MMC shares. Since DaimlerChrysler refused MMC further help, the Japanese auto maker has been bailed out by sister companies in the Mitsubishi group and investment funds through their purchase of new shares, reducing Daimler's controlling 37 percent stake. If shares held by group companies are included, Mitsubishi Heavy Industries Ltd. will still be MMC's top shareholder with a combined 13.9 percent as of end-September, the auto maker said." Mitsubishi has also projects with other manufacturers. Peugeot/Citroen future 4x4 models are based on a Mitsubishi (or just the Mitsubishi rebadged).  Signaturehttp://www.mat.uc.pt/~rps/ .pt is Portugal| `Whom the gods love die young'-Menander (342-292 BC) Europe | Villeneuve 50-82, Toivonen 56-86, Senna 60-94 Old but expected news....Mitsu is a money pit. Maybe the Chinese will save them but who knows? The EVO VIII seems to be a loss-leader and the rest of the product line is decent motivation to look at other brands ( If you're not looking for an EVO why deal with those sh.ts at Mitsu, their lame warranty and spotty service?) They're going down. > "German carmaker DaimlerChrysler has sold its 12.4 per cent stake in > troubled Japanese automaker Mitsubishi Motors. The share was bought by [quoted text clipped - 37 lines] > future 4x4 models are based on a Mitsubishi (or just the Mitsubishi > rebadged). Nice to see someone posting about a subject they know absolutely nothing about ! Simpleton , you're a prat !!! Jeff > Old but expected news....Mitsu is a money pit. Maybe the Chinese will save > them but who knows? The EVO VIII seems to be a loss-leader and the rest [quoted text clipped - 42 lines] >> future 4x4 models are based on a Mitsubishi (or just the Mitsubishi >> rebadged). Really? Do say... I must have hit a nerve and am guessing your a Canuck Mitsu tech. Get any EVO's yet? "278 problems reported per 100 cars" J.D.Power and assoc., 2005 Vehicle dependability study. "Mitsubishi, 841" J.D. Power and assoc., 2005 Customer service index ranking. (based on 1000 point scale- this puts Mitsubishi near dead last in customer satisfaction regarding service. only Kia, VW, Suzuki and Isuzu are worse) "Mitsubishi 129 problems reported per 100 cars" J.D.Power and assoc., 2005 Initial quality Study The numbers don't lie, Mitsu isn't even average, not the vehicle, not the service. http://www.azstarnet.com/dailystar/relatedarticles/26428.php http://www.mitsubishisucks.com/ http://www.theautochannel.com/news/2005/03/30/024025.html http://www.detnews.com/2004/autosinsider/0406/21/e03-186452.htm http://www.detnews.com/2005/autosinsider/0501/21/autos-66507.htm http://www.detnews.com/2004/autosinsider/0410/03/autos-288409.htm > Nice to see someone posting about a subject they know absolutely nothing > about ! [quoted text clipped - 48 lines] >>> future 4x4 models are based on a Mitsubishi (or just the Mitsubishi >>> rebadged). No , you didnt hit a nerve Yes im a Mitsu tech , Canuck ? I aint got a clue what your talking about ! Evos , yes i have thanks . I owned a VI for a while . Im now in a Lancer ( my 3rd ) and my 8th Mitsi in all. JD power survey , hmmmmm im guessing you forgot to look at the JD power surveys for the UK , Europe and the rest of the world ? I have worked on Saab , Suzuki , Subaru , GM , Ford , Isuzu , Volvo , Rover , Reliant , and many many more , none even come close to the reliabilty of Mitsubishi . Im not here for a slanging match , its a FACT that ALL manufacturers have problems. Admittedly , the 'H' room was a scandal but now we are getting recalls just like every other manufacturer , the majority of which are from vehicles built in Europe , Thailand and the US. Jeff > Really? Do say... I must have hit a nerve and am guessing your a Canuck > Mitsu tech. [quoted text clipped - 78 lines] >>>> future 4x4 models are based on a Mitsubishi (or just the Mitsubishi >>>> rebadged). I forgot to mention about the "7 Bolt scandal" where a huge number of 4G63 motors fell to bits when the thrust bearings failed and ran the crank sensors into their trigger plates. There were enough of them to birth groups like the DSM1Gina2G group on yahoo, which is dedicated to helping Mitsubishi owners swap older and extremely reliable "6 bolt" 4G63 motors in place of the nasty, failure prone 1995 and on "7 bolt" motors. There are some things that Mitsu does very well but they do cover their a.ses on warranty problems. They have yet to admit to a problem with the U.S. 4G63 engines. They fight you on Federally mandated safety recalls like the lower ball joints. The leaks on the transfer case yokes were ignored for years...there was a guy in prison in Puerto Rico for manslaughter when his leaking T-case caused his car to lock up. The resulting crash killed his passenger and Mitsu played dumb. I knew about that crap in '92. Mitsu is a great niche market supplier, the 1997 Eclipse GSX that I have was unique in the market and an interesting and fun car but not the kind of thing that I would recomend to the average person looking for a reliable car. More of a race car waiting to be built. On the topic of service, it was dealer techs who forced me to develop my own skills. Three different dealerships in the early '90's proved to be so completely incompetent, that I refused to allow them to service my car. Botched timing belts and clutch jobs that cost me hundreds of dollars to repair. Today, thanks to them, I do everything but the machine work to the block and head.( Only due to lack of machine tools: I'm a machinist by trade and the boring and decking of a block is pretty simple work.) The engine in the '97 is a '91 4G63 with the crank from a G4CS Hyundai, forged rods and pistons, oversized valves and HKS cams that built by myself. The ECU is from a 1995 eprom unit that's been rechipped, the suspension is redone with KONI coilovers and there are gearbox even has a GVR4's first gear. The fuel system is all AN hoses and fittings from the tank to the 1000cc.min. injectors which are managed by a laptop. Datalogs show that airflow is 50lbs/min. at full throttle and 0 to 60mph times of 3.5 seconds.... You must admit, inspite of the screen name, I'm far from a prat. Lastly on the issue of Mitsu going under, sales in North America are down by 39% and dealers are closing.... > No , you didnt hit a nerve > Yes im a Mitsu tech , Canuck ? I aint got a clue what your talking about ! [quoted text clipped - 97 lines] >>>>> future 4x4 models are based on a Mitsubishi (or just the Mitsubishi >>>>> rebadged). Sounds to me like you arent bitching about Mitsubishi Japan then , but Mitsubishi USA. You cant blame the Japanese if the US cant build vehicles and their Dealerships arent up to scratch. Ok , your no prat ........ so i apologise , but look beyond USA vehicles when your slagging off a damn good worldwide product. For the record , im a Mitsubishi master tech from the UK , recently emigrated to Canada with 21 years on the product. Jeff >I forgot to mention about the "7 Bolt scandal" where a huge number of 4G63 >motors fell to bits when the thrust bearings failed and ran the crank [quoted text clipped - 140 lines] >>>>>> future 4x4 models are based on a Mitsubishi (or just the Mitsubishi >>>>>> rebadged). "Sounds to me like you arent bitching about Mitsubishi Japan then , but Mitsubishi USA." I'm pissed at whoever changed the crank, rods and oiling system in the 4G63. Correct me if I am in error but those motors were Japanese weren't they? "You cant blame the Japanese if the US cant build vehicles and their Dealerships arent up to scratch." Mitsubishi is ultimately resonsible for their plants Jeff, where they're located doesn't matter. The service problems have most certainly cost sales....On U.S. user forums, Mitsu dealers are alternately known as Satan :) "Ok , your no prat ........ so i apologise , but look beyond USA vehicles when your slagging off a damn good worldwide product." I'll take that into consideration. "For the record , im a Mitsubishi master tech from the UK , recently emigrated to Canada with 21 years on the product." Yes, that's where the "Canuck" reference came from. Canuck is kind of a fond term for a Canadian much as you might call me a Yankee. Follow these links to some cool Canadians who're into Mitsubishi. http://www.magnusmotorsports.com/ http://www.magnusmotorsports.com/crankwalktheory.htm http://www.pixcl.com/lancerproject.htm (Stewart is a poster here) > Follow these links to some cool Canadians who're into Mitsubishi. > [quoted text clipped - 3 lines] > > http://www.pixcl.com/lancerproject.htm (Stewart is a poster here) Well, yes, it IS a Canadian site, however, I myself am Australian, my wife is Canadian. Been here almost 18 years (gad, has it been that long?) so I suppose I should apply for Canadian citizenship... Stewart DIBBS www.pixcl.com/lancerproject.htm Yes, they certainly don't stand behind what they make. The rumors about them going to tracks and photographing EVOs doesn't really help that image of "standing behind every car" they make. Mitsu's best days were the early DSMs when they sold and actually had a market. After that, the 2g GSX was probably the best looking model they ever made. Too bad for them we already knew how to fix their de-engineering and make the 2G a wonderful car. Instead of embracing us they came up with the 3G...yuck. Pure turd and pure slug. They should have recognized their customer base and pandered to us. The 4G is just a pretty 3G with high HP ratings due to the new SAE rating system. True DSMers are quite aware of the HP rating system change and know that's just a 3G with 10 more HP. Signature------------------------ > Old but expected news....Mitsu is a money pit. Maybe the Chinese will save > them but who knows? The EVO VIII seems to be a loss-leader and the rest of [quoted text clipped - 42 lines] > > future 4x4 models are based on a Mitsubishi (or just the Mitsubishi > > rebadged). |
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