No Compromise on Commitment
The origins of this Japanese car company run deep and long. The ownership is
trace back to 1870 and Yataro Iwasaki from an island run by the powerful Tosa
Clan. Mr. Iwasaki worked on behalf of the clan and founded a successful shipping
company that was subsequently handed down through the generations, bearing the
three-diamond emblem that symbolized the Tosa Clan.
By 1917, the Mitsubishi Shipbuilding Company was entering the automotive market
importing models from other countries and adapting them. In 1934, the
shipbuilding entity partnered with the Mitsubishi Aircraft Company and created the
country's first home-built sedan that was designed for military use.
The origins of another Mitsubishi branch appeared in th
...more
No Compromise on Commitment
The origins of this Japanese car company run deep and long. The ownership is
trace back to 1870 and Yataro Iwasaki from an island run by the powerful Tosa
Clan. Mr. Iwasaki worked on behalf of the clan and founded a successful shipping
company that was subsequently handed down through the generations, bearing the
three-diamond emblem that symbolized the Tosa Clan.
By 1917, the Mitsubishi Shipbuilding Company was entering the automotive market
importing models from other countries and adapting them. In 1934, the
shipbuilding entity partnered with the Mitsubishi Aircraft Company and created the
country's first home-built sedan that was designed for military use.
The origins of another Mitsubishi branch appeared in the early 1960s when Japan's
economy was improving and the idea of a family car took hold. Mitsubishi Heavy
Industries headed up this automotive endeavor and introduced the Mitsubishi 500
Sedan. Other models followed, including the first in the line of Colts. Many of these
early home-grown models are coveted parts of die cast model collections.
With continuing success in the automotive arena, various Mitsubishi divisions that
had been contributing to the effort combined to form Mitsubishi Motors Corporation
in 1970. Tomiko Kubo from the Aircraft division led the new corporation and quickly
saw the potential to increase exports and collaborate with strong international
partners. Part of this strategy led to Chrysler purchasing 15% of the Japanese auto
firm, rebranding Mitsubishi's Galant and selling them to the American Market as
Dodge Colts.
It was not until 1982 that Mitsubishi appeared on the American scene as its own
brand. Its market share was limited because of agreements between the U.S. and
Japanese governments: a move to protect Chrysler's interests. But, Mitsubishi
grew more aggressive in its marketing tactics and became an international
automotive force. In 1991, Chrysler sold most of its interest in the Japanese firm.
There had been management disagreements and tension for many years. With
Mitsubishi's independence, came a new era of cooperation with Mitsubishi
marketing Chrysler in foreign markets and Chrysler building engines and
transmissions for Mitsubishi.
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