There are a multitude of car manufacturers in the world today, so many that they can’t be mentioned in one breath. When we think of the powerhouse industries, Mitsubishi vehicles aren’t typically on the list. With a modest lineup of models in comparison to other automakers, Mitsubishi isn’t often considered to be venerable competition for other Japanese automakers in the United States. However, maybe we’ve been a little hasty.
Mitsubishi relishes in success in other markets, but has yet to accomplish the desired stronghold in United States markets. It is not for lack of quality vehicles, as they produce a small array of very well-made and long-lasting vehicles. Perhaps, it is easier to say that Mitsubishi has been focused on quality over quantity when it comes to the models they offer. However, such quality has failed to make them an automotive giant in this country, but things are looking up.
For the past two years, sales of Mitsubishi models have been increasing at an impressive level. While they’ve experienced a near roller coaster of sales in the states over the past four years, they’ve been gaining momentum this year, especially. 2011 saw a massive sales increase of nearly 50%, while 2012 showed a loss. Then in 2013, things turned around again, with sales posting a slight seven per cent bump. 2014 was a turnaround year for Mitsubishi motors as their US sales increased by almost 25%. First quarter 2015 sales have shown an interesting trend of increase, close to 20%!
Mitsubishi also recently sold their financing interest to Ally Financial. Ally was heavy in the lending game until the General Motors cut them loose during the financial crisis. Since then, Ally has steadily become one of the biggest companies for lending in the United States, so financial analysts are considering this move, by Mitsubishi, a brilliant one. The sum of money for which their interests changed hands is as yet, undisclosed.
Ally Financial, Inc. certainly has a big job to accomplish as a result of their new position. They are being held responsible for providing U.S. stores with inventory and the money to remodel and rebuild existing dealerships that may have fallen into disrepair or simply lost the modern feel of what is expected from dealerships. Another advantage to appointing Ally for their financial services is that it allows Mitsubishi to further focus on what they’re good at, which is the production of their automobiles.
The recent massive upswing in sales is largely attributed to record sales of the car manufacturer’s sports utility vehicle offering, the Mitsubishi Outlander and the Outlander Sport. Redesigned for its release in 2016, the Outlander is working hard to become the new face of the brand. The newer streamlined body and upgraded technology is what Mitsubishi is striving for when it comes to what they want for their image. If the rave reviews about the 2016 Outlander are of any importance, then they are looking at great future success.
Both Mitsubishi and Ally are incredibly optimistic regarding the future of their partnership. With the burden of financial matters removed from Mitsubishi’s hands, they have the opportunity to concern themselves with matters other than the potentially mindboggling details of money. Meanwhile, Ally can take the reins and demonstrate the true nature of their area of expertise. These two companies have merged their efforts to form a successful partnership; one that will mutually beneficial to everyone involved.
Perhaps as Mitsubishi is able to focus their efforts more on what matters, the cars, they will be able to develop and even more solid lineup. Their current lineup has been moderately successful with marked improvement in the U.S. sales market, but it seems as though the merger with Ally will lead to a higher level of success. With the emphasis removed from the complicated financial matters, Mitsubishi will continue to push their way through the door.
Many auto marketers are quick to put their presence out there and make their way by introducing flashy new models every year, touting all of the bells and whistles, and generally making a scene. Mitsubishi has hung back, marketed appropriately, and allowed their vehicle lineup to gain popularity via happy customers. It could be that Mitsubishi could eventually surpass the efforts of other manufacturers as they slowly mount. They could be the sleeper hit.