Mitsubishis = Gone out of business. Are they true?

**plumers** · 04-05-2005, 01:57 AM

I went to a Honda dealer to traded my 9G (2 months old) and the salesdudes said "Mitsubishis is going out of business and nobody wants to buy Mitsubishis, if you want to buy cars look for Honda or Toytas first then Mitsubishi as your last choice" and he didn't want to take my car, he also added "I will sell that Galant (2000 DE) for a thousand coz we're tired of selling mitsubishis". I was expecting at least I can sell this $18K but his final words before I left is "okay, we would take it for 10". Those words were really shocking and hurt me.
Did he mean it literally that Mitsus are going out of business???

**peanotation** · 04-05-2005, 02:11 AM

it's been said for years they will. for some reason no one likes them and their KBB value is horrible (for no reason).

**Ikudni** · 04-05-2005, 08:08 AM

it aint for no reason.. the had that scandal where they hid evidence of defects in the cars and trucks for like 20 years.. a whole bunch of old exec's are gettin sued as we speak.. then there were all the loans they gave out to cats that defaulted.. mitsu's bleedin money.. the cars aren't sellin cause.. let's admit it.. the stylin direction is leavin a little to be desired.. we're a loooong way from when the galant was considered the car of the year (6g)

**gtx** · 04-05-2005, 08:16 AM

1997. "The new Galant, in fact, is already making history by being chosen to receive the "1996-97 Car of the Year Japan" award, the most prestigious automotive award in Japan. " (Remember, this is the 8G)

1999. "The Galant named the Best Buy in the U.S. by Car and Driver magazine. U.S.-based Internet site "Auto Channel" announces the Galant as the 1999 Car of the Year. The Mitsubishi Galant named as the best vehicle in its price category in a guide published by AAA (American Automobile Association), the largest organization for motorists in the U.S. "

But yeah, still. don't listen to the dealers tho, what they have to pay for always will be crap, and what they want to sell you is always the top of the automotive engineering.

**cardude03** · 04-05-2005, 12:29 PM

if you dont want to get raped on the resale, dont take it to the dealer, u have to sell it privately. check out the kbb site, i wonder how much they say u can get for it.

**Jet Black** · 04-05-2005, 01:35 PM

^I can get at most is 3k for mine w/80k miles.

**Lootrock** · 04-05-2005, 01:48 PM

Originally Posted by Jet Black

^I can get at most is 3k for mine w/80k miles.

Damn, thats freaking horrble, and you got a V6. I can't imagine what they'd try to give me if I even wanted to sell it.

**jusmills** · 04-05-2005, 02:31 PM

Mitsubishi more than likely won't go out of business, there's way too much capital investment by Daimler-Chrysler for that to happen. What more than likely will happen is that Daimler-Chrysler or another company (Chinese investors for example) will let the bleeding of Mitsu continue until shareholders begin to jump ship and the stock price drops, then Chrysler will buy a bigger portion of the company (currently 19%), drop some of the execs or otherwise cut costs to lower the fixed costs of the company (which is the main reason the company is in trouble now-mitsus execs long term strategy was flawed). More than likely mitsu will go the way of Datsun/Nissan did in the late 80s before Renault picked them up, same as what happened with Mazda before Ford (yes Mazda pulls from Fords global parts bin) got to them.

On another note...I believe the honda dealer was just fishing for some business. I'd never trust a damned thing that a dealer (the actual car salespeople) has to say my experience is that 100% of them lie, some are ok people but the majority are just dumbasses. If you want proof, ask them about the engine code of your car, most will just fumble around and not give you what you want...how are you going to trust a guy that doesn't know details about the product that he's trying to sell you...

**str8304** · 04-05-2005, 05:48 PM

Originally Posted by jusmills

Mitsubishi more than likely won't go out of business, there's way too much capital investment by Daimler-Chrysler for that to happen. What more than likely will happen is that Daimler-Chrysler or another company (Chinese investors for example) will let the bleeding of Mitsu continue until shareholders begin to jump ship and the stock price drops, then Chrysler will buy a bigger portion of the company (currently 19%), drop some of the execs or otherwise cut costs to lower the fixed costs of the company (which is the main reason the company is in trouble now-mitsus execs long term strategy was flawed). More than likely mitsu will go the way of Datsun/Nissan did in the late 80s before Renault picked them up, same as what happened with Mazda before Ford (yes Mazda pulls from Fords global parts bin) got to them.

On another note...I believe the honda dealer was just fishing for some business. I'd never trust a damned thing that a dealer (the actual car salespeople) has to say my experience is that 100% of them lie, some are ok people but the majority are just dumbasses. If you want proof, ask them about the engine code of your car, most will just fumble around and not give you what you want...how are you going to trust a guy that doesn't know details about the product that he's trying to sell you...

From what I heard and read last year, Daimler-Chrysler parted ways with Mitsubishi. Now they partnered up with them to keep them from going under, but now like i said, DC bounced on them. Now Mitsubishi is standing on its own and struggling.

**mike969mb** · 04-05-2005, 06:31 PM

Originally Posted by str8304

Originally Posted by jusmills

Mitsubishi more than likely won't go out of business, there's way too much capital investment by Daimler-Chrysler for that to happen. What more than likely will happen is that Daimler-Chrysler or another company (Chinese investors for example) will let the bleeding of Mitsu continue until shareholders begin to jump ship and the stock price drops, then Chrysler will buy a bigger portion of the company (currently 19%), drop some of the execs or otherwise cut costs to lower the fixed costs of the company (which is the main reason the company is in trouble now-mitsus execs long term strategy was flawed). More than likely mitsu will go the way of Datsun/Nissan did in the late 80s before Renault picked them up, same as what happened with Mazda before Ford (yes Mazda pulls from Fords global parts bin) got to them.

On another note...I believe the honda dealer was just fishing for some business. I'd never trust a damned thing that a dealer (the actual car salespeople) has to say my experience is that 100% of them lie, some are ok people but the majority are just dumbasses. If you want proof, ask them about the engine code of your car, most will just fumble around and not give you what you want...how are you going to trust a guy that doesn't know details about the product that he's trying to sell you...

From what I heard and read last year, Daimler-Chrysler parted ways with Mitsubishi. Now they partnered up with them to keep them from going under, but now like i said, DC bounced on them. Now Mitsubishi is standing on its own and struggling.

exactly what i read on an article recently - only reason mitsu is probably still going is that one of the big banks over there is helping finance them cause they own it.

**plumers** · 04-05-2005, 06:56 PM

Yeh, my friend whose Japanese dudes said that the most luxury cars in 1998 (he left Japan in 98) was Mitsubishi and it was Galant. Mitsubishis are probably struggling just like KIAs and Hyundays, People just have known Toyotas since 1980s. My parents told me that Toyota were like those grown-ups as well, back in 1972. I don't know what the hell KBB people think, they put worst resale values on Mitsubishis, imagine that I had 2 months old 9G (GTS, top offa line) 3500 miles and the depriciation is around $12,000 plus the amounts that dealers have taken from my skinny wallets.

Dealers = Rip Off

**Mante** · 04-05-2005, 07:03 PM

Originally Posted by plumers

I went to a Honda dealer to traded my 9G (2 months old) and the salesdudes said "Mitsubishis is going out of business and nobody wants to buy Mitsubishis, if you want to buy cars look for Honda or Toytas first then Mitsubishi as your last choice" and he didn't want to take my car, he also added "I will sell that Galant (2000 DE) for a thousand coz we're tired of selling mitsubishis". I was expecting at least I can sell this $18K but his final words before I left is "okay, we would take it for 10". Those words were really shocking and hurt me.
Did he mean it literally that Mitsus are going out of business???

A: never believe a car salesman, they never tell the truth..
B: Mitsu and Nissan are merging..

**plumers** · 04-05-2005, 07:17 PM

Originally Posted by Mante

A: never believe a car salesman, they never tell the truth..
B: Mitsu and Nissan are merging..

Are you sure about Mitsu and Nissan merging together??? did nissan bought mitsus or mitsu bought nissan?

**Lazarus** · 04-05-2005, 07:53 PM

i thought it was Mitsu and Chrysler

8ggalant · 04-05-2005, 07:57 PM

oh shyt thats awesome...now i dont feel like a total traitor lol

**ChikagoGTZ** · 04-05-2005, 09:48 PM

I should get 7500 for my 00 GTZ, not a total loss, too bad it's not for sale....mofuggers!

**jusmills** · 04-06-2005, 12:11 AM

<div class='quotetop'>QUOTE</div><div class='quotemain'>From what I heard and read last year, Daimler-Chrysler parted ways with Mitsubishi. Now they partnered up with them to keep them from going under, but now like i said, DC bounced on them. Now Mitsubishi is standing on its own and struggling.</div>

I'm not sure...DC wanted to part ways with them last I heard because they didn't really want to give Mitsu about 1.6 billion that it needed to bail it them out...from the flaw (design and market) strategy. Mitsu maybe on its own now...not doubting that, but unless they come up with a helluva way to get back into not only the US market but the Japanese market (Toyota's market share is up like 10% from what I read) the bleeding will continue. I read that DC's long term plan will be to let the share price drop so they can get a bigger foothold in the Japanese market (otherwise its just importing US, Korean and German made cars).

<div class='quotetop'>QUOTE</div><div class='quotemain'>exactly what i read on an article recently - only reason mitsu is probably still going is that one of the big banks over there is helping finance them cause they own it.</div>

Yeah, most of the Japanese car companies own their own banks. They also can lower their cost structure by investing heavily in the people that make parts for their cars. In addition to that, I know for sure that a good deal of the larger asian car makers are parts of a bigger congolmerate companies (Toyota of Toyota-Luen Corp which started out as a huge player in the textiles business, Mitsubishi as part of Mitsubishi-Rayon Corp big in chemicals, even Hyundai part of Hyundai Heavy Industries that make oil tankers)