June 21, 2001 |
For only the third time, Consumer Reports magazine has rated a vehicle "not acceptable": Mitsubishi Motors' Montero Limited sport-utility vehicle, which the magazine says has a high likelihood of rolling over during sharp turns. The Montero Limited tips dangerously in emergency accident avoidance maneuvers in which drivers swerve to avoid something in their path, and it should be recalled, the magazine said Wednesday.
June 14, 2001 |
Financially ailing Mitsubishi Motors Corp. has promoted the head of its Illinois-based U.S. auto making unit to chairman and chief executive of all U.S. operations. Hirao Iijima, 57, will assume the new duties at Cypress-based Mitsubishi Motors America Inc. at the end of June. Reporting to Iijima will be Pierre Gagnon, 45, newly promoted president and chief operating officer of Mitsubishi Motor Sales of America, and Rich Gilligan, 57, new president of Mitsubishi Motor Manufacturing of America.
February 28, 2001 |
Mitsubishi Motors Corp. said it will begin selling cars and light trucks in Canada at 51 dealerships in 2003 to boost North American sales as demand slows in Japan. Mitsubishi, Japan's fourth-largest auto maker, said it plans to open 150 Canadian dealerships by 2005 and sell 38,000 new vehicles a year in the country by 2007. It expects to spend $350 million over five years on the expansion. Auto makers sell about 1.
February 7, 2001
Mitsubishi Motors Corp. is a bit late to the starting gate in the "crossover" race, with its first U.S. market model not due to go on sale until next year as a 2003 model. So to whet appetites for its forthcoming car-based sport-utility--or sport-utility-looking car--the company recently showed off a near-production model of the Japanese market version, left, which hits the streets there this year.
November 1, 2000 |
Mitsubishi Motors Corp., Japan's fourth-largest auto maker, said Tuesday that it completed part of a plan to consolidate its four U.S. business units by the end of the year to save money and better compete with larger rivals. Mitsubishi's main U.S. business, Mitsubishi Motors America Inc. in Cypress, is absorbing support functions for the sales, manufacturing and research units. The effort isn't aimed at cutting jobs, the auto maker said.
September 9, 2000 |
DaimlerChrysler on Friday cut the price it will pay for a one-third stake in Mitsubishi Motors Corp. and installed one of its executives to help run the company after a recall scandal hammered the stock of Japan's fourth-largest auto maker. The German-U.S. auto maker will pay $1.9 billion, or 10% less than it agreed to in March, for a 34% stake in Mitsubishi, and named Rolf Eckrodt as Mitsubishi's chief operating officer.
September 7, 2000 |
Mitsubishi Motors Corp. President Katsuhiko Kawasoe plans to resign to take responsibility for a 20-year cover-up of customer complaints that led to the recall of 1 million vehicles, a company official said. Kawasoe, who has led Japan's fourth-largest auto maker since 1997, will be replaced by Vice President Takashi Sonobe, said the official, who asked not to be further identified. Sonobe declined to comment. Attempts to reach Kawasoe were unsuccessful.
September 2, 2000 |
DaimlerChrysler's last-minute postponement of a meeting with analysts fueled speculation Friday that the German-American auto giant was preparing for major changes involving its troubled partner Mitsubishi Motors Corp.
August 29, 2000 |
Mitsubishi Motors' shares fell 12.4% on Monday after a weekend raid on its headquarters and reports that its president would resign to take responsibility for a growing scandal over decades of hiding vehicle defects. Mitsubishi shares finished down 48 cents at $3.39 a share on the Tokyo Stock Exchange. President Katsuhiko Kawasoe promised a thorough housecleaning. "Together with my management team, I will . . .