What is Mitsubishi Motors' calculation?

Mitsubishi has been worried about the Japanese domestic market because recall events have seriously damaged its own brand image. In Europe and the United States, sales of Mitsubishi Motors have also gradually declined. It is not easy to change bad impressions in the short term. Mitsubishi has therefore set its sights on other Asian countries. Taking the Philippine market as an example, sales of Mitsubishi Motors are second only to Toyota. In October this year, the market share reached 14.5%, but the market capacity of the Philippines is limited. In October, the overall sales volume was only 7,660 units. China's market into Mitsubishi's "life-saving straw"? In contrast, the Chinese market with huge capacity, infinite potential, and extremely pioneering nature has become Mitsubishi's life-saving straw. At the end of last year, Mitsubishi Motors announced the expansion of its automobile sales network strategic plan in China, which mentioned that in the next four years, the number of sales stores in China will increase to 300, and by 2007, 300,000 vehicles will be sold annually (approximately 4 years in 2002). The objective of this is to increase Mitsubishi’s share of the Chinese automotive market to 5%. Mitsubishi Motors had only 20 independent stores in China at that time. At the time, there were more than 50 sales stores that jointly owned brands with the DaimlerChrysler Group. However, with Dai Ke's relentless withdrawal, Mitsubishi's own distribution network had only plans. One-tenth of this is obviously not enough. At present, there are Hafei Motors, Dongan Engines, Shenyang Mitsubishi Engines, Beijing Jeep, Hunan Changfeng, Southeast Automotive, and popular cars. Among them, the cooperation between most companies and Mitsubishi only stays at the technical level, only Pajero's Pao Luo of Beijing Jeep runs, and Changfeng Pajero, which was only recently listed, has put Mitsubishi's trademark on the market, while Mitsubishi's Mitsubishi car has been introduced into Mitsubishi. The target's craving has never been satisfied. However, there is no doubt that Mitsubishi Motors and Mitsubishi Corporation are holding a 13.97% (previously 25%) stake in China Motors, and China Motors is one of the joint ventures of Southeast Automotive, which holds a 50% stake in Southeast Motors, that is, Mitsubishi actually indirectly holds a stake of 6.99% (previously 12.5%) of Southeast Motor, and Mitsubishi Motors also has a certain “relative” relationship with Southeast Motor. China's Non-Sustained Direct Participation of Shareholders in the South Japan’s “Yomiuri Shimbun” reported on the 20th that the talks between Japan's Mitsubishi Motors to acquire part of the shares held by China Taiwan’s Chunghwa Auto Industrial Co., Ltd. (hereinafter referred to as “Taiwan Zhonghua”) have entered the final stage. The outcome of the negotiations is expected to be announced this month. However, when December is about to elapse, we only see the southeastern car igniting the fuse of the 2005 price war. There is no sign of Mitsubishi cheering behind it. Starting from the end of last year, Mitsubishi Motors Corp.’s news that it will directly participate in the shareholders' car business is widely reported in the industry, and the party’s Southeast Autos even used this as a selling point in its press materials for reporters. And, at the sensitive end of last year's industry rumors, South East Motor Company received two heavyweight visitors: Taiwan Yulon Group CEO and Vice Chairman of China Automotive Yan Kaitai and Japan’s Mitsubishi Motors Corporation President Ike Roth, the latter not only visited Fujian for the first time, but also visited Southeast Automotive as president of Mitsubishi. Ekroyt was able to visit Southeast Motor in a sensitive period. This made the industry think that Mitsubishi's direct participation in the shareholders' car should not be suspenseful. Sources revealed at the time that Taiwan’s China Motors may transfer 15% of Southeast Motor’s shares to Mitsubishi, which indirectly and directly holds approximately 25% of Southeast Motor’s shares. It is confirmed that Mitsubishi really hopes to directly hold its shareholders, South Auto, and the shares will be divided from the shareholder Taiwan Motors, but the 25% of the rumors are not very accurate. It is reported that the industry’s relatively clear statement is that Mitsubishi will eventually form a three-shareholder shareholding ratio of 1:1:1 through the direct purchase of shares in Southeast Auto and the increase in holdings in Taiwan’s shares in China. It is understood that because Mitsubishi Motors is one of the joint ventures of South East Automotive Co., Ltd., one of the major shareholders of China Motors, the models introduced by Southeast Motors, Lingshao and Lingbao, all have Mitsubishi ancestry. Among them, Lingshuai used Mitsubishi's famous LANCER (Lancer) as a prototype, transplanted the Mitsubishi LANCER vehicle technology, and introduced Mitsubishi system components. The prototype of Mitsubishi is Mitsubishi's famous space vehicle. Although there are pure pedigrees, Ling Hao and lions do not stand out in China. This is why Southeast Motors still consider Mitsubishi in crisis as the main reason to pursue cooperation. It is reported that in order to match Mitsubishi’s direct participation in the shareholders' car, Mitsubishi’s self-rescue plan, Taiwan’s Chunghwa Motors also invested approximately NT$3 billion (10 billion yen), and participated in Mitsubishi’s 450 billion yen recapitalization project. Dai Ke Gets Out of Changfeng New Car and Hangs Mitsubishi Logo Mitsubishi has two SUV partner partners in China. One is Beijing Jeep and the other is Changfeng Motor. Previously, with the Daimler-Chrysler relationship, Beijing Jeep not only acquired Mitsubishi's Pajero Sport, Outlander, etc., but also was authorized to use the Mitsubishi logo. Mitsubishi Motors also had a long time lag between Beijing Jeep and Changfeng on the ownership of Pajero’s CK series, so that Changfeng’s chairman Li Jianxin had implicitly warned Mitsubishi: “Don’t choose to go. The election was made.” The force that propels the tilt is from Dai Ke. In April 2004, Dai Ke, who had a 37% stake in Mitsubishi Motors, announced that he would no longer invest in Mitsubishi Motors’ financial support and financial support. For this reason, Mitsubishi Motors was forced to launch a full-scale self-rescue and began to increase its focus on the Chinese market. It also changed the way it used to earn cash by exporting technology, and began paying attention to joint ventures. In this context, Changfeng began to receive attention from Mitsubishi Motors. After all, Mitsubishi Motors owns approximately 20% of Changfeng, and is currently the only vehicle joint venture in China. It is understood that since 1995, Mitsubishi Motors has provided Changfeng Group with Pajero V31 and V33 technologies. Changfeng has begun to produce Cheetah series models; in October 1996, the two parties established Hunan Changfeng Automobile Manufacturing Co., Ltd., with a total registered capital of 2.22. Billion yuan. In November of this year, Changfeng Automobile announced that the board of directors of Changfeng has passed the proposal of introducing the license contract (CK) of Mitsubishi Pajero series models. According to the license contract, Changfeng has obtained seven types of Mitsubishi Pajero CK series seven types of vehicles that were awarded by Mitsubishi Motors, and the agreement is exclusive. At the same time, Changfeng also obtained permission to hang the Mitsubishi logo on this series of models. According to reports, according to the agreement between Changfeng and Mitsubishi Motors, Mitsubishi Motors will receive a 450 million yen entry fee and a 100 million yen development fee through this model transfer. In addition, there will be a vehicle and spare parts commission. The Changfeng new car's wish to hang on to the Mitsubishi logo has made it even more true that last summer's news that Mitsubishi would increase its stake in Changfeng to 50%. Last summer, Akroth, who was then president of Mitsubishi, sighed after visiting Changfeng’s newly-built base in Changsha: “The Changfeng project is by far Mitsubishi’s best and possibly the only successful automobile project in China.” Mitsubishi Both Changfeng and Changfeng also told the media that Mitsubishi plans to increase its stake in Changfeng to 50%. In a recent interview with reporters, relevant stakeholders of Changfeng Automobile also expressed with confidence that Mitsubishi’s capital increase has basically been discussed, and only waited for the final signing. Mitsubishi did not choose to avoid the election but, although the Southeast and Changfeng are not to avoid their own expectations of Mitsubishi, but Mitsubishi has always refused to make a positive response. A few days ago, Mitsubishi’s North Asian Minister, Yamaguchi Kenji, told reporters at the morning newspaper that Mitsubishi had a number of partners including Beijing Jeep, Southeast Automotive, and Changfeng Auto in China. As the automobile industry policy stipulates that a foreign company can only have two joint venture partners in China, Mitsubishi is fully considering how to bring the advantages of its partners together to maximize its effectiveness. He insisted that everything is still under study and there is no conclusive statement. He only stated that he will decide to announce it to the public in the future. One side is looking forward with enthusiasm, one is hesitant, and what is Mitsubishi's mind playing? For Mitsubishi Motors, which regards the Chinese market as its life-saving straw, South East Automotive and Changfeng Automobile, two companies that are competitive in the domestic automobile industry, should be a good choice. However, why Mitsubishi Motors failed to make a decision after one year of consideration, but people feel a bit embarrassed and self-righteous? Is Mitsubishi not afraid of the patience of the two companies? Kenichi Yamau said that the auto industry policy only allows two joint venture partners, but the fact is that after no relationship with Beijing Jeep, Mitsubishi and South East and Changfeng cooperation should not be subject to policy restrictions, so what he called to be the advantages of partners. How do you explain when you are concentrated? A few days ago, the reporter's puzzle finally got an answer. Informed sources told reporters that Mitsubishi can have two partners in the country. However, both companies in the Southeast and Changfeng Automobile are hoping to introduce Mitsubishi's full range of models, thus forcing Mitsubishi to select only one partner in the country. This obviously made Mitsubishi very difficult. From Mitsubishi's point of view, it hoped to give Changfeng a full range of SUV models and to give cars to Southeast Motor. However, Changfeng Motor also has a long history of cars, and has been actively fighting for Mitsubishi. This reporter has recently been confirmed by relevant persons from Changfeng Automobile. For Southeast Motor, the Fu Lika he had long produced can also be defined as an SUV, and Mitsubishi's car business is not the strongest, and SUV products are its most competitive products, so if you let Mitsubishi With the capital increase, only the Mitsubishi sedan will be introduced, and the southeast is obviously not willing. It is understood that, in fact, even if the South East Motor willing to give in as long as the car, Changfeng Motor refused to concede. According to informed sources, Mitsubishi Motors was originally scheduled to announce in Southeast Asia on December 17 that Southeast Motor is its most important partner in China. In other words, Mitsubishi Motors will show its attitude for the first time. However, Mitsubishi Motors did not announce it to the public because Changfeng Motor did not do anything. In addition to the inability to balance the interests of the two companies, Mitsubishi Motors has had no reason to announce further cooperation plans. According to analysis, when Mitsubishi made a recovery plan, the slowdown in the growth of the Chinese auto market has not yet fully manifested itself. In the face of the following changes in the market, Mitsubishi Motors’ CEO, Ichiro Okazaki, said that Mitsubishi Motors is considering delaying a new investment plan in China. Mitsubishi Motors originally planned to invest a total of 35 billion yen in the Chinese market during the fiscal year 2005 (until March 2006). However, Okazaki said that Mitsubishi Motors’ new capital increase plan will create difficulties due to the downturn in the Chinese auto market and the impact of Mitsubishi’s auto sales in China. This may also be one of the reasons why Mitsubishi Motors has been slow to move in China. However, the time left for Mitsubishi's decision may not be much, and the market rate to achieve 5% in China will not always be realized. In an interview with reporters, a person concerned with the Southeast Auto Group still told reporters with confidence that Mitsubishi’s direct participation in the shareholders’ car was believed to be announced soon. Industry insiders expect that the current requirements in the southeast may be as long as the Mitsubishi car logo can be attached. It may be difficult to obtain Mitsubishi SUV products and technology. Of course, Changfeng wants Mitsubishi's full range of products is not easy. It seems that Mitsubishi's in-depth cooperation in China is not easy. (The Morning Post reporter Qian Yujuan)