When you talk about Japanese cars, there is only a handful of brands that would surely pop out of your mind. These car brands, however, are very much popular, highly reliable and are considered efficient as well. Thus, the striking and high sales figures can attest to that. Mitsubishi cars are among the Japanese cars that have taken the world by storm in the past several decades.
Mitsubishi cars are manufactured by Mitsubishi Motors Corp. To date, the company is the No. 5 biggest auto manufacturer in the whole of Japan. The firm is also the 13th highest global motor company, in terms of sales per unit. There are just so many reasons why Mitsubishi cars are popular and are highly patronised the world over.
As Japanese cars, Mitsubishi vehicles are very reliable and efficient. Sales of the cars would not rise rapidly, steadily and constantly if the car brand was disappointing customers and car fanatics. The quality of each Mitsubishi car is extremely superior that many global and international competitors would instantly turn pale in comparison to this car brand.
Originally, Mitsubishi was not exclusively a brand for cars or automotives. It was only in 1917 that Mitsubishi got involved into the transport or automotive manufacturing business. It was Mitsubishi Shipbuilding Co Ltd that ushered the name Mitsubishi into the game. You see, Mitsubishi was part of the much venerated and admired Mitsubishi keiretsu, a Japanese term equivalent to conglomerate in the English language.
In 1934, Mitsubishi Aircraft Co and Mitsubishi Shipbuilding combined to form Mitsubishi Heavy Industries, which was the proponent of modern-day Mitsubishi car models. The resulting merger also emerged as the biggest privately held firm in Japan during the time and through several decades that followed.
In 1988, Mitsubishi Motors, the heir to Mitsubishi Heavy Industries, was the only closely held of all the modern and progressive 11 local car manufacturers in the country. That year, the company moved to change its ownership structure by agreeing to enlist itself up in the stock market. Mitsubishi Heavy Industries approved a proposal to reduce its ownership in the company from a controlling stake to only a 25% interest.
The US-based Chrysler moved to accumulate shares in Mitsubishi. Thus, in that year's listing, Chrysler started owning more than 20% of Mitsubishi's sales. The fund Mitsubishi generated from that listing was usefully utilized by Mitsubishi to clean its outstanding debt, and take an expansion project, which led to opening of facilities and distribution networks throughout Thailand, Malaysia and the Philippines.
In its entire length of existence, Mitsubishi has forged a number alliance agreements with several international car making names, including South Korea's Hyundai, Malaysia's Proton, the Netherlands' Volvo and United Kingdom-based Colt & Lonsdale. As a result of that strategy, Mitsubishi cars further reached the height of popularity. The car brand has been one of the worlds finest and undoubtedly among the most patronized. Buy your Mitsubishi car now and experience how it is to drive a practical, efficient and popular car, all at the same time.
Original Authors: Manny
Edit Update Authors: RPN
Updated On: 21/06/2007