Trade your old Evo in for a new Honda
05-31-2006, 05:07 AM
#11
Registered User
Join Date: Mar 2003
Location: Philly
Posts: 2,129
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jasonjm,May 30 2006, 02:59 PM
There is talk that Mitsu will pull out of the U.S. market if they're new re-designs don't sell. Smart move financialy perhaps. They need to slim down, get back to basics.
http://www.theautochannel.com/news/2...03/002914.html
[QUOTE]
Mitsubishi Motors Reports March 2006 U.S. Sales
CYPRESS, Calif., April 3 -- Mitsubishi Motors North America, Inc., today reported March sales of 10,250 units, an increase of 28.5% compared to February sales of 7,976.
"March was a very strong month, particularly in the retail sector (up 41% from February), which is critical for the success of our dealers and our company," said President & CEO Hiroshi Harunari. "This consistent, month-over-month growth sets us up for dramatic sales increases in our new business year, which begins in April."
05-31-2006, 05:29 AM
#12
Registered User
Join Date: Dec 2001
Location: Morris Plains
Posts: 203
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by Chris Stack,May 30 2006, 11:42 PM
and since Honda has zero experience so far marketing a turbo
05-31-2006, 05:35 AM
#13
Join Date: Sep 2005
Location: Arlington Heights, IL
Posts: 3,668
Likes: 0
Received 19 Likes
on
11 Posts
Originally Posted by fanoftheliving,May 31 2006, 05:29 AM
And thank god for that... Any idiot can put a turbo in their car - it is NOT rocket science.
And in the proper application, they make a lot of sense. So don't think I am writing off turbos altogether.
05-31-2006, 05:47 AM
#14
Registered User
Thread Starter
Who knows, maybe the shareholders want the company to make more profit per car? If i get any real corporate info i'll gladly post. Would also like to see Honda'a reaction from their PR dept. if this ever happens.
05-31-2006, 06:21 AM
#15
Originally Posted by jasonjm,May 30 2006, 02:59 PM
There is talk that Mitsu will pull out of the U.S. market if they're new re-designs don't sell. Smart move financialy perhaps.
My best friends sisters boyfriends brothers girlfriend heard from this guy that knows this girl whos going with a guy that saw Ferris passed out at 31 flavors last night. I guess its pretty serious.
05-31-2006, 06:51 AM
#16
Registered User
Join Date: Nov 2003
Location: Bay Area
Posts: 682
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by aklucsarits,May 31 2006, 05:07 AM
I doubt Mitsubishi makes much if any money of the only 6000-8000 Lancer Evolutions it sells in the US annually. It's just a halo car, not a big profit center for them. Their moneymakers are the mainstream, volume cars. And Mitsubishi seems to be doing pretty darn good in the US recently with their product redesigns... Sales up 28.5% in the US year over year. Why would they leave the world's largest auto market - a market where their sales are experiencing a tremendous rebound??
http://www.theautochannel.com/news/2...03/002914.html
Andrew
http://www.theautochannel.com/news/2...03/002914.html
Andrew
05-31-2006, 07:04 AM
#17
Registered User
Join Date: Mar 2003
Location: Philly
Posts: 2,129
Likes: 0
Received 0 Likes
on
0 Posts
Actually, Mitsubishi Motors expects to return to profits this year. They are projecting 8 Billion Yen for fiscal year 2006 in this earnings report release from about 1 month ago.
http://media.mitsubishi-motors.com/pressre...detail1453.html
In the same report, they also outline their growth plans by market, including North America:
[QUOTE]# Fiscal 2006 operational plans
Operational measures by region
(1)
http://media.mitsubishi-motors.com/pressre...detail1453.html
# Forecasts for fiscal 2006
On the strength of the introduction of a number of new models in fiscal 2006 scheduled in the revitalization plan, Mitsubishi Motors will aim to achieve the revitalization plan target of increasing global sales volume by 5% over fiscal 2005 to 1,408,000 units. Regional forecasts are the following. Japan: 302,000 vehicles, an 18% increase over the previous year; North America: 181,000 vehicles, a 16% increase; Europe: 271,000 vehicles, a slight increase; Asia and other regions: 654,000, a slight decrease. In terms of key financial figures, for fiscal 2006 Mitsubishi Motors forecasts total sales of 2,230.0 billion yen, a 5% increase, consummate with the volume increase, of 109.9 billion over last year. The company forecasts operating income of 43.0 billion yen, up 36.2 billion yen from fiscal 2005. Factors driving the increase include: upturns in unit volume/model profitability mix stemming from the introduction of new models in the lineup; reduced sales promotion spending; reductions in material costs; and cut backs in general administrative expenses. Also contributing to the improvement will be the beneficial effects of booking asset impairment charges and restructuring implemented in fiscal 2005. Mitsubishi Motors forecasts an ordinary profit of 21.0 billion yen, a year-on-year improvement of 38.8 billion yen, and a full-year net profit of 8 billion yen, an improvement of 100.2 billion yen.
On the strength of the introduction of a number of new models in fiscal 2006 scheduled in the revitalization plan, Mitsubishi Motors will aim to achieve the revitalization plan target of increasing global sales volume by 5% over fiscal 2005 to 1,408,000 units. Regional forecasts are the following. Japan: 302,000 vehicles, an 18% increase over the previous year; North America: 181,000 vehicles, a 16% increase; Europe: 271,000 vehicles, a slight increase; Asia and other regions: 654,000, a slight decrease. In terms of key financial figures, for fiscal 2006 Mitsubishi Motors forecasts total sales of 2,230.0 billion yen, a 5% increase, consummate with the volume increase, of 109.9 billion over last year. The company forecasts operating income of 43.0 billion yen, up 36.2 billion yen from fiscal 2005. Factors driving the increase include: upturns in unit volume/model profitability mix stemming from the introduction of new models in the lineup; reduced sales promotion spending; reductions in material costs; and cut backs in general administrative expenses. Also contributing to the improvement will be the beneficial effects of booking asset impairment charges and restructuring implemented in fiscal 2005. Mitsubishi Motors forecasts an ordinary profit of 21.0 billion yen, a year-on-year improvement of 38.8 billion yen, and a full-year net profit of 8 billion yen, an improvement of 100.2 billion yen.
[QUOTE]# Fiscal 2006 operational plans
Operational measures by region
(1)
05-31-2006, 08:06 AM
#18
Registered User
Thread Starter
Just because JP morgan or Lynch says something good about a company (remember all ther ++ for Enron) doesn't mean I'm going to go invest.
The very same report says:
"The decrease in sales mainly reflects lower OEM supply volumes in North America and Europe that were not completely offset by increased revenues in Japan driven by the introduction of new models."
"In North America, the company sold 156,000 vehicles, a 10.3% decline or 18,000 fewer than last year. Sales grew steadily in Mexico and Puerto Rico but failed to counter the slow performance in the United States. In response to the weak recovery in the U.S. market, MMC reinforced a management structure for the market in January."
There you have it, volume down 10%....
Sales was down 23 percent in 2005 from the previous year. It keeps going down. If it goes down another 10%+ for 2006 that means they sold half as many cars as they did in 04...
So you see, Mitsu isn't doing well here in the NA market. Straight from the horses mouth.
They're also not doing well in their home market.
3 or 4 more years of inline decline will force the hand...
It's not entirely far fetched to get out of the U.S. market temporarily at least for certain models.
The very same report says:
"The decrease in sales mainly reflects lower OEM supply volumes in North America and Europe that were not completely offset by increased revenues in Japan driven by the introduction of new models."
"In North America, the company sold 156,000 vehicles, a 10.3% decline or 18,000 fewer than last year. Sales grew steadily in Mexico and Puerto Rico but failed to counter the slow performance in the United States. In response to the weak recovery in the U.S. market, MMC reinforced a management structure for the market in January."
There you have it, volume down 10%....
Sales was down 23 percent in 2005 from the previous year. It keeps going down. If it goes down another 10%+ for 2006 that means they sold half as many cars as they did in 04...
So you see, Mitsu isn't doing well here in the NA market. Straight from the horses mouth.
They're also not doing well in their home market.
3 or 4 more years of inline decline will force the hand...
It's not entirely far fetched to get out of the U.S. market temporarily at least for certain models.
05-31-2006, 08:38 AM
#19
Registered User
Join Date: Mar 2003
Location: Philly
Posts: 2,129
Likes: 0
Received 0 Likes
on
0 Posts
Originally Posted by jasonjm,May 31 2006, 11:06 AM
Just because JP morgan or Lynch says something good about a company (remember all ther ++ for Enron) doesn't mean I'm going to go invest.
The very same report says:
"The decrease in sales mainly reflects lower OEM supply volumes in North America and Europe that were not completely offset by increased revenues in Japan driven by the introduction of new models."
"In North America, the company sold 156,000 vehicles, a 10.3% decline or 18,000 fewer than last year. Sales grew steadily in Mexico and Puerto Rico but failed to counter the slow performance in the United States. In response to the weak recovery in the U.S. market, MMC reinforced a management structure for the market in January."
There you have it, volume down 10%....
Sales was down 23 percent in 2005 from the previous year. It keeps going down. If it goes down another 10%+ for 2006 that means they sold half as many cars as they did in 04...
So you see, Mitsu isn't doing well here in the NA market. Straight from the horses mouth.
They're also not doing well in their home market.
3 or 4 more years of inline decline will force the hand...
It's not entirely far fetched to get out of the U.S. market temporarily at least for certain models.
The very same report says:
"The decrease in sales mainly reflects lower OEM supply volumes in North America and Europe that were not completely offset by increased revenues in Japan driven by the introduction of new models."
"In North America, the company sold 156,000 vehicles, a 10.3% decline or 18,000 fewer than last year. Sales grew steadily in Mexico and Puerto Rico but failed to counter the slow performance in the United States. In response to the weak recovery in the U.S. market, MMC reinforced a management structure for the market in January."
There you have it, volume down 10%....
Sales was down 23 percent in 2005 from the previous year. It keeps going down. If it goes down another 10%+ for 2006 that means they sold half as many cars as they did in 04...
So you see, Mitsu isn't doing well here in the NA market. Straight from the horses mouth.
They're also not doing well in their home market.
3 or 4 more years of inline decline will force the hand...
It's not entirely far fetched to get out of the U.S. market temporarily at least for certain models.
[quote]"In North America, the company sold 156,000 vehicles, a 10.3% decline or 18,000 fewer than last year. Sales grew steadily in Mexico and Puerto Rico but failed to counter the slow performance in the United States. In response to the weak recovery in the U.S. market, MMC reinforced a management structure for the market in January. Together with this management change, a new system encompassing sales, product development, and production is bringing local operations closer in contact with headquarters in Japan, making quicker responses to changes in market conditions possible. Recent new dealer support policies are bringing sales higher, and the true recovery is beginning."[quote]
They seem convinced that the sales trend is clearly up, as evidenced by last quarter's US sales surge. What makes you believe that North American sales would continue to fall another 10%.
Also, why not post some articles or information to support your theory that Mitsubishi is considering pulling out of the US auto market?
Andrew
05-31-2006, 09:45 AM
#20
Registered User
Thread Starter
I am not convinced that NA sales would continue to fall another 10% or rise accordingly, or for any figure at that.
All that remains to be seen. What is known is what has already happened. They're recovery in this market was much slower than expected.
What I'm convinced of is if they continue to lose U.S sales; business will not continue on as usual.
Point of this thread was entertaining the thought of a market hole and who or what (pertaining to Honda) could/would do; and if those drivers would want by their own will feed into the brand we all love (do you?)
It's not to question the practices of Mitsu's NA operations, they're financial reports, or my (nor yours) ability to read such matter.
I for one don't dismiss the fact that the Evo & STI rushed the need to develope Sh-AWD and the turbo on the RDX... Do we need the Evo to spur this healthy competition? Etc...
All that remains to be seen. What is known is what has already happened. They're recovery in this market was much slower than expected.
What I'm convinced of is if they continue to lose U.S sales; business will not continue on as usual.
Point of this thread was entertaining the thought of a market hole and who or what (pertaining to Honda) could/would do; and if those drivers would want by their own will feed into the brand we all love (do you?)
It's not to question the practices of Mitsu's NA operations, they're financial reports, or my (nor yours) ability to read such matter.
I for one don't dismiss the fact that the Evo & STI rushed the need to develope Sh-AWD and the turbo on the RDX... Do we need the Evo to spur this healthy competition? Etc...