The crisis is eager to help Mitsubishi save the Chinese market

On December 21, Mitsubishi Motors announced in Shanghai that its high-end MPV Granadi was officially listed in China. Two days ago, on December 19th, the Changfeng Mitsubishi Pajero V73 off-road vehicle that had achieved local production was also listed in Beijing. Intriguingly, Mitsubishi Motors' Mitsubishi Motors Co., Ltd., which is known as Mitsubishi Corp., will be jointly owned by Mitsubishi Motors Corporation and Mitsubishi Corporation in Tokyo on the occasion of Mitsubishi Motors’ push for new car movements in China. Mitsubishi Corporation headquarters building in Minato-ku is sold to the Morgan Stanley Group for more than 100 billion yen. According to reports from Japanese media, Mitsubishi Motors Corp. will therefore receive approximately 30 billion yen in funds, which is part of its efforts to accelerate the sale of assets to ensure sufficient funds are available for self-rescue. The crises are eager to save themselves. So, is it going to be thriving? What is Mitsubishi Motors currently in? Judging from the global market, the current status of Mitsubishi Motors can be described in four words - "crisis". In recent years, Japan’s Mitsubishi Motors Corporation has repeatedly concealed the quality of auto parts, resulting in many major traffic accidents in the Mitsubishi Motors. According to the Japanese police announcement, since August 1992, Mitsubishi Motors Corporation and Mitsubishi Fuso Motor Co., Ltd. have hidden a total of 155 auto parts quality problems, of which 42 are for "major accident hidden dangers." In February of this year, Mitsubishi Motors president Rolf Ekroth resigned due to mismanagement. In April, DaimlerChrysler, Mitsubishi’s largest shareholder, announced that it would no longer inject funds into Mitsubishi, and Mitsubishi’s layoffs were immediately Closed factories in Japan and Australia; on June 2nd, Mitsubishi Motors President and CEO Ichiro Okazaki acknowledged the design and production quality problems of 17 models and 163,700 cars produced in Pajero from 1992 to 1998; June 10 On the same day, Mitsubishi Motors former general manager Hiroshi Keihiko and former Mitsubishi Fuso Motors Co., Ltd. Yusumi Meru were arrested for "business negligence and death". Mitsubishi Motors was thus banned by Japanese local governments and abandoned by Japanese and American consumers. On May 21, Mitsubishi Motors, which was mired in shortage of funds and concealed a defect crisis, announced a huge self-help plan. The core content of the Mitsubishi Motors is a financial assistance plan of 450 billion yen (about 4.1 billion U.S. dollars). Of these, 270 billion yen will come from Mitsubishi Group companies: Mitsubishi Heavy Industries, Mitsubishi Corporation and Tokyo Mitsubishi Bank, etc. will purchase 140 billion yen Mitsubishi Motors preferred shares, Mitsubishi Bank Trust and Investment Corporation and Tokyo Mitsubishi Finance Group will become Mitsubishi Motors Solve 1,300 billion yen in debt; another 170 billion yen from the market: Including private funds, Mingyin Securities will buy 70 billion yen of Mitsubishi Motors’ ordinary shares, and JPMorgan Chase Bank will purchase 100 billion yen of Mitsubishi Motors’ preferred stock. ; Another 10 billion yen comes from Mitsubishi Motors’ strategic partner, Taiwan China Motor Corporation. Mitsubishi Motors said that 1,300 billion yen of this 450 billion yen fund was used to reduce debt and 320 billion yen was used for company operations. In June, Ichiro Okazaki, the new president of Mitsubishi Motors, announced that it has increased the size of the rescue plan from 450 billion yen to 544 billion yen. In addition to the pledged purchase of 100 billion yen of preferred stock, JP Morgan may invest another 50 billion yuan. JPY. In addition, Ying Ming Securities plans to purchase up to 100 billion yen of common stock at a price of 100 yen per share. The Japanese oil company of the Mitsubishi Group will purchase the company’s 1 billion yen preferred shares to be issued in July. However, the reality is relentless. In Mitsubishi Motors' first fiscal year (April-September 2004), the net loss amounted to 146.2 billion yen, an increase of 82% over the same period of the previous year; at the same time sales were also from the same period last year. 1.2 trillion yen fell to 1.07 trillion yen - the landslide continues. Digging in the market, digging and digging for stop loss and stabilizing will undoubtedly become Mitsubishi's primary goal of getting out of trouble. Mitsubishi plans to make a profit in the financial year from April 2005 to March 2006, and to achieve 120 billion yen in operating profit based on sales of 2.49 trillion yen in fiscal year 2006. To achieve this goal, Mitsubishi Motors has begun to fully shrink in its new global strategy, shifting its focus to Japan and China. Mitsubishi Motors will launch 44 new models in the next four years after it has completely overturned the new-car development plan for the Dai-Ke era. Among them, 7 new models were launched in the North American market, 10 in Europe, 11 in China, and 16 in Japan. It is clear that the Chinese market has become the lifeblood of Mitsubishi Motors. In 2003 Mitsubishi Motors' excellent performance in the Chinese market gave Mitsubishi a shot in the arm. Mitsubishi's data shows that in 2003 the company's car sales in the Chinese market (excluding Hong Kong, Macao and Taiwan) (including Chinese local brands) increased by 206.1% over the previous year to 145,235 units, becoming the only bright spot for Mitsubishi Motors global market. Mitsubishi Motors is therefore very proud of the future of the Chinese market and wants to make China the world’s second largest market after Japan, and this year’s target is to have the Mitsubishi brand alone sell 220,000 units, including a total of 310,000 units produced in China. , In 2008, 500 Mitsubishi brand sales networks were built in China. At present, although there is no joint-venture vehicle company with Mitsubishi brand name in China, Mitsubishi brand products still have a certain market recognition in China. The case of privately replacing the domestic car logo with the Mitsubishi car logo is an example. Mitsubishi can now be regarded as the most international automobile manufacturer with the most cooperation projects with local companies: it owns 16% of shares in Hunan Changfeng, Beijing Jeep, Southeast Automotive, Harbin Dongan Automotive Engine Company, Shenyang Aerospace Mitsubishi Motors Engine Company, Dalian Hualing Automotive Co., Ltd. Sales companies have a close relationship with Mitsubishi Motors, and many domestic models are equipped with engines using Mitsubishi technology. Although most companies and Mitsubishi Motors are limited to technical cooperation, models such as Cheetah, Horse Racing, Optimus, and Fulica have been relatively popular. In September of this year, Hunan Changfeng signed a licensing contract with Mitsubishi on Pajero. Seven models of the Pajero CK series of Mitsubishi SUV's global core competition products will be located in Changfeng. The Changfeng Mitsubishi Pajero V73, which was listed a few days ago, became the third Mitsubishi-branded car produced in China after Pajero's speed run and Outlander. With the sporting characteristics instigating the market to seize the hearts of Chinese consumers, Mitsubishi Motors has still used its long-standing position in the international sports arena to make unremitting efforts to support China's auto sports and spur its own sports DNA. In the Dakar Rally to begin on January 1, 2005, the "China Mitsubishi Rally Art Team" will impact a better ranking. The Mitsubishi-branded off-road vehicle has won the Paris-Dakar rally for 9 times in 20 years. The two new Mitsubishi cars listed in China have Mitsubishi Motors' unique sports DNA. The Pajero V73 need not be said, but Granady is also an MPV player. Granady is equipped with a new 2.4-liter MIVEC engine and an INVECS-II intelligent automatic transmission system. The maximum speed is 190 kilometers per hour, and the streamlined body is ready to go. It is the essence of Mitsubishi Motors China's strategy to attack the market with sporty vehicles. At the same time, Mitsubishi Motors holds a stake in the Southeast Auto Group. According to analysis by industry insiders, Mitsubishi’s adoption of the “detour” tactics involves the acquisition of a share of Southeast China Auto held by Taiwan’s China Motors (currently Mitsubishi Motors already holds 15% of China Motor’s shares, while China Motors holds 50% of Southeast Automotive. If the shares are progressing smoothly, Mitsubishi Motors will eventually hold Southeast Auto's shares. Although Mitsubishi Motors North Asia’s Minister Mitsumi Mitsubishi and Mitsubishi’s next step in China’s layout are evasive, they only emphasized that “China's relevant auto industry policy allows only one foreign company to have two joint ventures”, but Southeast is clearly the most likely to become Mitsubishi. The car is the second joint venture partner in China after Changfeng.