Mitsubishi Motors Headquarters Building Efforts to Save China's Partners

Whether the Chinese market will become the last straw of Mitsubishi Motors is still unknown. However, Mitsubishi, a brand that has been troubled by operating conditions in the world and is known to Chinese consumers, has decided to make a last-minute move in the Chinese market. According to the exact news received by this reporter, the Chinese partners who will welcome it will be Southeast China Automobile and Changfeng Cheetah. However, it is still unknown whether most Chinese consumers can accept it or to what extent it will accept it. Mitsubishi Motors Headquarters Building Self-help Since January 1, the number of employees of the Morgan Stanley Group in the United States has significantly increased in and out of Shinagawa Mitsubishi Building. By the end of the month, the American Morgan Stanley Group will become the new owner of the building. Before the owner, the owner of the 32-story building that was put into use last May was Mitsubishi Motors. Although Mitsubishi employees are not willing to move away from the bustling Tokyo metropolitan area, many people still understand that Mitsubishi Motors is in trouble. The Morgan Stanley Group of the United States purchased the Mitsubishi Motors headquarters building named "Shinkawa Mitsubishi Building" for more than 100 billion yen. Since Mitsubishi Motors and Mitsubishi Corporation were the owners of this building, Mitsubishi Motors will use about 30 billion yen of its funds for self-help. At the same time, Mitsubishi said in its 2004 annual financial report that the company's fiscal year's losses will be far greater than expected. Mitsubishi Motors’ net loss for the first half of the fiscal year ended September 30 last year was US$1.38 billion. During a visit to Japan in September last year, our reporter learned that Mitsubishi Motors’ performance in Japan is also not satisfactory. In the choice of Japanese consumers, Mitsubishi’s sales and market share lag far behind Toyota, Nissan, Honda, and Mazda. Other domestic counterparts, except that Japan is not the largest market for Mitsubishi, Mitsubishi has disliked domestic consumers in Japan. Mitsubishi has repeatedly concealed the quality of cars and caused several recalls. Consumers who use Mitsubishi brand cars believe that Mitsubishi’s frequent recalls make people feel that this is a quality defect. Mitsubishi Motors officials acknowledged that the loss of Mitsubishi Motors was mainly due to the impact of domestic recalls. In addition, Mitsubishi Motors’ failure to promote low-interest loans in the US market was also an important reason for the increase in losses. Imported cars are included in Mitsubishi Corporation's China market and Mitsubishi Motors still exists, but Mitsubishi's imported car business in China will be transferred to Mitsubishi Corporation (Shanghai) Co., Ltd. this year. Mitsubishi Motors’s North Asia Division head, Sanmu Kenichi, interviewed this reporter and called the adjustment a major adjustment of Mitsubishi Motors’ business in China. At present, Mitsubishi Motors has closed all four companies in the country that are engaged in the import vehicle business, and the entire business of imported vehicles has been transferred to Mitsubishi Corporation (Shanghai) Co., Ltd. for operation. This move can be seen as the beginning of Mitsubishi's efforts to reduce intermediate links and engage in terminal sales. Industry analysts, although Mitsubishi Motors itself is one of Mitsubishi Group's many industries, it seems to be a normal thing in Mitsubishi's internal view, but for Chinese consumers who are familiar with Mitsubishi Motors, Mitsubishi Corporation is unfamiliar after all. This adjustment is easy to give the public the illusion that Mitsubishi will weaken its auto business in China. Indeed, among the materials related to Chinese business that Mitsubishi Corporation (Shanghai) Co., Ltd. issued to reporters, the reporter noticed that there are not many businesses involving automobiles, but rather some businesses such as clothing, chemicals, and agriculture occupy a significant proportion of the business. . Sanko Kenichi said that Mitsubishi Motors’ inclusion in Mitsubishi Corporation is a concrete manifestation of Mitsubishi's emphasis on the automotive business. Mitsubishi Motors is an important piece of the Mitsubishi Group. Mitsubishi China's Mitsubishi Motors' Mitsubishi Motors' brand name is well-known in China, but Mitsubishi Motors has no direct joint venture partner in China. All of the current automotive-related issues in China have emerged as technical cooperation, such as the Mitsubishi engine used by many models in China. Mitsubishi Motors began to actively adjust its strategic layout in China in the wake of Mitsubishi's global operations in crisis. This made Mitsubishi the last Japanese auto company to enter the Chinese market. Fujian Automobile Group and Chairman of Southeast Automotive Industry Corporation Ling Yuzhang hoped that the reporters would send a message to consumers saying: “In the future, Southeast Motors will be expected to hang Mitsubishi logos directly.” Ling Yuzhang said that the background of this remark is that many consumers are after purchasing Optimus. Purchase Mitsubishi car stickers from your pocket. Ling Yuzhang said in an interview with reporters that the Southeast Asia-Mitsubishi joint venture is only a matter of time. At present, South East Automotive and Mitsubishi are studying the possibility of joint ventures between the two sides. According to sources close to the Southeast Automotive Industry Group, Southeast Motors has already signed a joint venture contract with Mitsubishi. If LSAC hangs the Mitsubishi logo when it was listed two years ago, sales of LS will be better than today. Industry insiders have made adjustments to Mitsubishi's layout in China much more difficult. Although there is no vehicle joint venture in China, Mitsubishi has technical cooperation with Beijing Jeep, Hunan Changfeng and Southeast Automotive. In accordance with the national industrial policy, multinational cars in China may not exceed the relevant standards of two joint venture partners. Mitsubishi must select the second from the third. After finalizing Southeast Automotive and Hunan Changfeng as joint venture partners, the relationship between Mitsubishi and Beijing Jeep is even more confusing. Although Mitsubishi and Beijing Jeep currently have no direct joint venture, Beijing Jeep's Pajero Dash and Outlander are the first companies on the Chinese market to hang Mitsubishi trademarks. When talking about the relationship with Beijing Jeep, Mitsubishi Motors Beijing Office stated that Mitsubishi Motors will continue to maintain and develop cooperation with Beijing Jeep Automobile Co. in existing projects and other aspects. The cooperation relationship between Mitsubishi Motors and Beijing Jeep currently There will be no change. Xinhua reporter Zhou Guangjun/Wen Gaoxuan/photo

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