Mitsubishi Motors

Mitsubishi Motors (in Japanese: 三菱自動車工業株式会社,, Mitsubishi Jidōsha Kōgyō Kabushiki Gaisha^?) is one of the divisions of the Japanese corporation Mitsubishi that, since 2016, has been controlled by the Nissan group, forming the Renault-Nissan-Mitsubishi alliance, creating one of the largest automotive groups in the world.

At the end of the First World War, this division was created, which originally manufactured airplane engines that were used in the Second World War. Mitsubishi means "three diamonds" and refers to the three diamond logo, which was adopted in March 1873 by the first company of the Mitsubishi group. In its current form, it has been registered since 1914. In 1917 it became the first Japanese automobile company to produce a series car in Japan, the “A” model.

History

In the mid-1960s the Mitsubishi 500 arrived and with it the first successes in competition, debuting with victory in the Macau Grand Prix in 1962. This was followed by the Minica microcar, the Colt and the Galant. At the same time, the range of commercial vehicles is expanding to cover the needs of transporting passengers and goods. In 1970 and under the name of Mitsubishi Motors Corporation (MMC), the motor vehicle division of Mitsubishi Heavy Industries began its solo journey. In 1982, the Montero, called that in Spanish-speaking countries, was launched and marketed in the United Kingdom under the name “Shogun.”

Since its appearance, it has won twelve editions of the Dakar Rally and five off-road Rally World Cups. Also and with the now legendary Lancer EVO, Mitsubishi has won four FIA World Rally Championships.

In 2004, Mitsubishi manufactured 1,428,563 units, including passenger and commercial vehicles. This figure represented a 10% decrease compared to the previous year and placed the Three Diamond brand in thirteenth place in the world ranking of manufacturers. Since the DaimlerChrysler group, which controlled the brand since 2000, went out of administration, Mitsubishi has entered into a deep reorganization. At the end of 2005, the German corporation DC sold its 12.4% share package to the investment bank Goldman Sachs, which in turn resold them on the Tokyo Stock Exchange.

After difficult years, the company's Recovery Plan, financed by powerful Japanese corporations close to Mitsubishi, is giving results and the company is recovering the market thanks to higher quality of its products and better after-sales service. It has also reinforced its participation in the European market through agreements with Volkswagen and Groupe PSA, especially to acquire diesel engines. Mitsubishi has announced new models to strengthen its product range. The renewal of important models is announced, such as the Lancer Evo sports sedan and the L200 pickup. It has also presented a new generation of the Eclipse sports car and the Raider mid-size pickup truck, derived from the Dodge Dakota, in the North American market.

Also in 2007 the Outlander, a hitchable four-wheel drive SUV, 5 doors and 5 seats, debuted its second generation with a new platform and new features in style, technology and comfort. Mitsubishi manufactures versions of the Outlander for the PSA group, which markets it under its Peugeot 4007 and Citroën (C-Crosser) brands.

Mitsubishi manufactures more than 20 models, many of which are only sold in Japan. The best known on the American and European continents are the compact Lancer, the sporty Eclipse, the Galant sedan, the Grandis minivan and the Granada, Nativa, Outlander and Pajero/Montero off-road SUVs.

In November 2022, it reported total production of 925,599 units during the calendar year.

Mitsubishi Motors North America

Mitsubishi Motors North America was founded in 1981, after tensions between Mitsubishi and its US importer, Chrysler Corporation. In this way, Mitsubishi would establish its own sales network and production line. MMNA then became a subsidiary of the company with a presence in the United States and Canada.

In 1982 imports from the North American market began (or exports to the North American market, depending on what you want to say, because "exported to" or "imported from"), with well-known models such as Mitsubishi Tredia, Cordia, Starion and the Mighty Max pickup.

During 1988, MMNA opens a new production facility in Normal, Illinois. In 2000, said plant reached a production of 220,000 vehicles per year.

In 2002, the expansion of the subsidiary reached Puerto Rico.

The problems began in early 2003 due in large part to the financing "0-0-0" (0% reduction, 0% interest, $0 payments the first year). This sales formula would have been a good strategy for selling the units had it not been for the fact that, once the initial period of use of the vehicle had ended, many customers did not keep the unit and did not pay for it, leaving the company with vehicles used that did not generate profits and had suffered a strong depreciation. For this reason, MMNA stopped its progress for the next few months due to financial losses.

The entry of new models continued in 2006, with the introduction of the Mitsubishi Outlander and Mitsubishi Eclipse, the following year a new generation of the Mitsubishi Lancer would be included.

Finally, in July 2015, MMNA announced the possible closure of its plant in the United States, but confirmed that car sales in North America would continue. By then, the plant had produced 69,000 units, barely a quarter of its production capacity. The plant ceased production in November 2015, liquidating most of the employees; It continued operating to manufacture spare parts for the brand with a much smaller workforce until May 2016 when it permanently ceased operations.

Spain

It was in 1986 when the importation of Mitsubishi vehicles to the Spanish market began, as a result of the agreement signed in November 1985 between Mercedes-Benz Spain and Mitsubishi Motors Corporation, through which the company Importación y Comercialización de Automóviles S. A. (ICA). Although the first years were marked by limitations on the importation of Japanese vehicles, it was during this stage that the foundations on which the current organization was founded were laid.

In 1992, MMC Automóviles España S.A. was established, with majority capital of Mitsubishi Motors.

Mexico

In 2003, this automotive brand entered Mexico given the reputation of its cars, arriving hand in hand, some in rallies and others, imported from the United States and Guatemala, the agreement that was had with DaimlerChrysler AG, Currently known as Fiat Chrysler Automobiles, they allowed this brand to enter the Mexican market for the first time and gain considerable acceptance.

In 2014, a commercial agreement was signed with Chrysler of Mexico, now under the corporate name FCA of Mexico, where Mitsubishi undertakes to market a compact sedan car that in the American territory bears the name of Attrage and on other continents bears the name of Mirage G4, this for 5 years and for marketing in Mexico in Dodge dealerships under the name Dodge Attitude.

In April 2018, due to the purchase of the Renault-Nissan Alliance, it was announced that they would add Mitsubishi Motors products within their automotive financing portfolio to leave dependence on FCA Financial Mexico, which culminates the contract with said corporation.

Venezuela

In 1986, at the same time as in Spain, the opportunity arose to enter Venezuelan territory with the help of MMC Automotriz, beginning to market its products through an intermediary of a Japanese firm named Nissho Iwai Corp, currently known as Sojitz Corp.

Mitsubishi began in Venezuela in 1990 with the introduction of the L300 in two versions, one intended for cargo and industrial work and another, more dedicated to transporting passengers and personnel. Following this, the Mitsubishi Galant entered the market, which, due to naming rights issues with Renault, was sold as MF or MX, depending on its standard or automatic transmission. Later, the Mitsubishi Lancer and Mitsubishi Fuso Canter would join the Japanese range in western territory.

At the end of 2015, the sale of its license in that country was confirmed, with the Yammine Group being the purchaser.

In the following years, its production and marketing has been hampered due to the current economic crisis in Venezuela, which is why the dealers are working to order and the brand's page in Venezuela is currently under maintenance.

Produced models

• RVR and ASX
• Charisma
• Eclipse
• Indeavor
• Fuso Canter
• Grandis
• GTO
• i MiEV (electric vehicle, also marketed as Peugeot iOn and Citroën C-Zero).
• Lancer
• Lancer Evolution
• L200 Pickup
• Native
• Mirage
• Montero
• Galant
• Chariot and Space Wagon
• Outlander
• Colt
• Sapporo
• Xpander
• 500