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Automotive News & Views Mitsubishi News
1058 messages, Last post on Nov 25, 2009 at 12:59 PM
You are in the Automotive News & Views Forum. Your Hosts are steve_ & claires
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Replying to: dm1212 (Aug 05, 2009 2:45 pm) Two of the posters here drive them. Less than 5K units is pretty bad. A few years ago they were at least selling about 12K per month. I guess the minor players suffer the most in bad times. I live in Honda land yet I see a lot of mistu products on the roads. I remember that Mitsubishi never had more than 1% of the market but around here it seems to be much higher. 
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Replying to: oldfarmer50 (Aug 06, 2009 6:48 am) On the other hand, according to a car salesperson poster over in one of the Clunker discussions, the average gross margin at the manufacturer's level is 15%. What's the average price they are charging the dealer? If it's, say, $14,000, then 5,000 units x 12 is 60,000 vehicles a year, at 15% margin ... I'm not too swift with math but that looks like a gross before taxes of $126 million. Is it worth walking away from that market? The other numbers posted were pretty interesting too: kdhspyder, "Cash for Clunkers - Does it Work for You?" #1594, 6 Aug 2009 10:26 am Maybe we should worry more about the dealers being to make it on that volume more than Mitsu? |
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| exactly. BTW-Mitsubishi's CEO recently stated that they have no intention of leaving the U.S. market. They fully intend to unleash their all-electric platforms here in the U.S. soon. I remain a large Mitsu fan and would not discount the idea of buying a Mitsubishi product next time. | |
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AUGUST WAS MITSUBISHI MOTORS’ BEST SALES MONTH THIS YEAR Mitsu Media Website CYPRESS, Calif. (September 1, 2009) - Mitsubishi Motors North America (MMNA) today announced August 2009 sales of 6,813. It was the highest monthly sales total for Mitsubishi since October 2008 and an increase of 41 percent from July. “The CARS program lifted the spirits of the automobile industry by attracting to the showroom buyers who purchased cleaner-running, fuel efficient vehicles like the Lancer, Galant and Outlander,” said Shinichi Kurihara, president and CEO of Mitsubishi Motors North America. “August was our fifth consecutive month of increased sales and we are working diligently to maintain this sales growth in the months ahead.” Kurihara noted that additional momentum is being provided by the all-new Lancer Sportback, which is currently arriving in dealerships. “The Lancer Sportback provides active lifestyle consumers with a versatile new option for sportiness, performance and spaciousness,” he said. August highlights included: Lancer sales were up 37.5 percent compared to the prior month (July, 2009). August 2009 was Lancer’s best sales month since August 2008. Outlander sales were up 91.8 percent compared to last month. August 2009 was Outlander’s best sales month in two years (August 2007). August was Galant’s best sales month since January, up 34.1 percent compared to last month. Endeavor sales were up 37.5 percent compared to the prior month. August 2009 was Endeavor’s best sales month since July 2008. August 2009 was Mitsubishi’s best retail sales month since August 2008.
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Replying to: mikevegas06 (Sep 03, 2009 2:10 am) You beat me to the post. I'm glad Mitsu had a good month but I'm wondering what they are doing to keep sales up. I was looking at the "incentives and rebates" list here on Edmunds and it says there is NO rebates or marketing support for 2009 models and only mild low APR financing (4.9%) on the 2010s. On top of that it looks like they have raised their prices on the 2010s. MY 2008 Eclipse had a MSRP of about $24K. The 2010 is $29K. Is Mitsubishi broke or have they just given up? 
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Replying to: oldfarmer50 (Sep 03, 2009 3:58 am) Their Auto business is just a small piece of the pie for their portfolio. And on top of that, they have a good portion of market share in their home turf of Japan. Their recent products like the Lancer and Outlander have been well recieved and the Eclipse and Eclipse Spyder have been successes as well. This is with little to no advertising. They've also got an EV in the works to compete with the Volt butis supposed to come in with a much more resonable asking price. They really need to nail the next Galant and rework the Endeavor into a legitimate Pilot/Highlander competitor. But I still think they have a better chance of a future here than companies like Suzuki for instance.
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anythingbutgm. You summed up the Mitsu company history thing very well. That is why I have remained bullish on Mitsubishi's future in automotive...because they're so diversified as an entire Company. Their engines are pretty much bulletproof, very, very impressive in the enginemaking department. I have read that the parent Mitsubishi Company just writes off the automotive losses if that's what they have. OTOH-I like what Mitsu's doing overall with the Lancer, Lancer Sportback, Outlander and the new i-MiEV. I heard the I-MiEV may cost $40,000, however, but be eligible for the BO $7,500 "green car" Guv-Mint rebate. We shall see. I think they need to lower that price by about $7,500...at least. 
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Replying to: iluvmysephia1 (Sep 03, 2009 8:46 am)  Thanks I also forgot to mention that Mitsubishi also supplies small engines to Hyundai. Also, I'm not sure if it's true anymore, but they also used to supply a lot of engine compnents to other makers. Their Turbo's, which are some of the best in the business can be found in Saab cars. I believe all the alternators found in Toyotas are or may still be Mitsubishi supplied. I can't remember off the top of my head, but I think there were many other components supplied to many automakers back in the 80's and 90's. 
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Replying to: iluvmysephia1 (Sep 03, 2009 8:46 am) Amen to that. Just sold my Chrysler with a 2.5L Mitsu engine that doesn't burn a drop of oil between changes (117,000 miles). My big 3.8L in the Eclipse gets the same gas milage as the old-time 2.4L Chrysler built motor in my wife's PT Cruiser. Hey, if they can get by on 7000 units a month, more power to them.
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Replying to: anythngbutgm (Sep 03, 2009 9:55 am) Lord, I hope so. The Toyota built ones were junk. I replaced seven of them in my 80s Toyota. "...other components..." "Silent Shaft" technology sold to BMW. Makes Mitsu motors very smooth running. |
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