But what company hasn't undergone downsizing in recent years. In the automotive sector alone, pretty well every major
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| Simply put, anyone who thinks that Mitsubishi is somehow going to disappear as a brand is completely out of line. (Photo: Trevor Hofmann, Canadian Auto Press) |
maker has cut, chopped and sliced jobs, expense accounts and even products in order to get the bottom line in order. Nissan, Mazda, and more recently Chrysler Group have all been given their last rights by, dare I say, ignorant automotive journalists in recent years, well meaning folks that don't understand the basic rule in business that everything experiences its ups and downs. Anyone who thinks that Mitsubishi is somehow going to disappear as a brand is completely out of line. There's no way a brand with such incredibly strong positive equity would go the way of the dodo, it's just too valuable. Even if the current management group couldn't make it work, some major player would walk in at pennies on the dollar and scoop it up only to revive it to a greater glory. Ford bought 25 and then 33.4 percent of Mazda and, after 26 years looks to have turned it completely around, as did Renault with Nissan/Infiniti and Daimler-Benz with Chrysler Group. While the economic climate is different today than it was a few years ago, value
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| Mitsubishi's restructuring plan should get the brand back on financial track in the near future. (Photo: Trevor Hofmann, Canadian Auto Press) |
is value, and unlike Daewoo, which is now defunct in North America and becoming so in most other markets around the world, Mitsubishi is a household word.
So don't worry shoppers, Mitsubishi isn't going anywhere. Its sales are down dramatically for sure, but on the whole its restructuring plan looks to be on track and its decision to pull out of low-profit fleet sales will boost its cars' resale values, which will add dollars into the pockets of its customers when it comes time to configure the lease or trade up.
When car shoppers are making a decision between new cars, it's paramount that the car you sell is on the shopping list. If not, well, that consumer will never know how good it is and will remain quite satisfied with something second rate.
