Mitsubishi to Retire Montero Sport and Diamante

[igor@af]

SUMMARY: The trials of Mitsubishi Motors continue as the company confirmed that the Diamante luxury sedan and Montero Sport SUV will both see the axe at the end of the 2004 model year. <i>Automotive News</i> also reports that the larger Montero will also be discontinued after the 2006 model year unless Mitsubishi finds a way to come up with the cash to fund a retooling needed to allow the Montero to meet 2007 emissions and safety standards in the United States.

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[meetra]

I am so sad that the Montero Sport is retiring. It is way better looking that the montero and endeavor combined. I see so many more Montero sports on the road than the Montero and endeavor! Why mitsubishi, why?!!??!!??

[Jaguar D-Type]

Mitsubishi isn't doing so well now. They can't match the quality of Korean or Japanese cars. Their only car that stands out is the Lancer EVO. DaimlerChrysler should pull the plug on Mitsubishi.

[Prime First]

Originally Posted by Jaguar D-Type

Mitsubishi isn't doing so well now. They can't match the quality of Korean or Japanese cars. Their only car that stands out is the Lancer EVO. DaimlerChrysler should pull the plug on Mitsubishi.

What do you mean by "pull the plug?"

[MarkHutch]

Mitsubishi is having a bunch of financial problems and it's hard not to see them getting worse since they are forced to continue making special offers just to sale cars.

I saw something the other day on a television commercial about getting free gas for the life of your car or something like that. A promotion like that could cause even more problems down the road.

[Prime First]

Originally Posted by MarkHutch

Mitsubishi is having a bunch of financial problems and it's hard not to see them getting worse since they are forced to continue making special offers just to sale cars.

I saw something the other day on a television commercial about getting free gas for the life of your car or something like that. A promotion like that could cause even more problems down the road.

I agree. Gas is a bunch nowadays. Especially a years worth. There's probably some sort of limit, or a rate, such as how many gallons a month or in a year total. They probably treat it as a rebate. But still, I hope Mitsu rebounds.

[MarkHutch]

Didn't they get merged or bought out by another company recently? Maybe I'm just imaging that, but I thought I read somewhere about a bankruptcy and another company coming in and taking them over to prevent it or something like that.

[Prime First]

Originally Posted by MarkHutch

Didn't they get merged or bought out by another company recently? Maybe I'm just imaging that, but I thought I read somewhere about a bankruptcy and another company coming in and taking them over to prevent it or something like that.

Japanese firms, especially parent Mitsubishi, are injecting money into Mitsubishi Motors to keep it alive. The Japanese look at Mitsubishi as part of Japan's history, so it would be a shame to let it die.

[Jaguar D-Type]

Originally Posted by Prime First

What do you mean by "pull the plug?"

Something like this...

DaimlerChrysler sells its Mitsubishi stake

AUTOMOTIVE NEWS

Posted Date: 11/15/05

On Friday, Nov. 11, DaimlerChrysler AG said it agreed to sell its remaining 12.4 percent stake in Mitsubishi Motors Corp. to finance giant Goldman Sachs Group Inc. DaimlerChrysler said it would record a gain of about 500 million euros, or $584.3 million at current exchange rates, for 2005 because of the transaction. The automaker said in a statement that it expects to complete the deal by month end.

DaimlerChrysler and Mitsubishi plan to renew and extend current projects "which are mutually beneficial," DaimlerChrysler said.

Goldman Sachs had no comment on Friday.

[Prime First]

Originally Posted by Jaguar D-Type

Something like this...

DaimlerChrysler sells its Mitsubishi stake

AUTOMOTIVE NEWS

Posted Date: 11/15/05

On Friday, Nov. 11, DaimlerChrysler AG said it agreed to sell its remaining 12.4 percent stake in Mitsubishi Motors Corp. to finance giant Goldman Sachs Group Inc. DaimlerChrysler said it would record a gain of about 500 million euros, or $584.3 million at current exchange rates, for 2005 because of the transaction. The automaker said in a statement that it expects to complete the deal by month end.

DaimlerChrysler and Mitsubishi plan to renew and extend current projects "which are mutually beneficial," DaimlerChrysler said.

Goldman Sachs had no comment on Friday.

oh okay. I misunderstood what you wrote the first time. I thought you were referring to DaimlerChrysler's authority over Mitsubishi, which doesn't really exist. My fault, we were on the same page.