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Company - New Zealand - Mitsubishi's Big revolution in the Evolution
New Zealand -New Zealand Herald - Sept 10, 2005: -- The release in Japan of the Lancer Evolution IX station wagon comes as Mitsubishi Motors New Zealand gears up for the launch next month of the 380 sedan... The timing is not coincidental. Mitsubishi Motors Corporation is calling 2005 its "fightback year" as it sets out to recover with a new business strategy and new chief executive officer the billions of dollars lost in the past few years... The new guard in Japan admits the failures: the car defects the old guard hid for decades; the corporate shenanigans; the huge losses from buyers in the US with bad credit. Then there were the vehicle recalls and the subsequent lost sales, millions of them... In the end the corporation lost the support and financial backing of its main shareholder DaimlerChrysler... The corporation gave DC a going-away present: a 20 per cent holding in a bus and truck subsidiary company. DC still has 12 per cent of MMC, down from upwards of 35 per cent... But Mitsubishi is upbeat as it talks of how the revitalisation plan it launched in January is starting to pay off...
posted by Unknown @ 12:43 PM
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