Mitsubishi Motors North America, Inc. - Overview

OVERVIEW

Mitsubishi Motors North America, Inc. (MMNA) is responsible all manufacturing, finance, sales, marketing, and research and development operations of the Mitsubishi Motors Corporation in the United States and Canada. Mitsubishi Motors sells coupes, convertibles, sedans and sport utility vehicles through a network of approximately 650 dealers.

The past year represents a significant transition phase for MMNA, as the company has focused on returning to its core DNA that it's always been known for - world-class engineering, dynamic handling and performance, and unique styling. The company also has set a course for long-term success through a number of strategic business activities: boosting retail versus fleet sales, focusing on core models, expanding the brand's demographics to a broader audience, eliminating risky financial deals and rebuilding relationships with dealers.

HISTORY

Mitsubishi Motors North America, Inc. (MMNA) was established in the United States more than 20 years ago when the company's first U.S. sales operation began selling and marketing vehicles in 1981. The company built its first car on U.S. soil in 1988. In September 2002, Mitsubishi Motors launched Canadian operations and in January 2003, the company began selling Mitsubishi-brand vehicles in Mexico through its alliance with DaimlerChrysler. In July 2004, Mitsubishi Motors sold its four millionth vehicle in North America.

MITSUBISHI MOTORS NORTH AMERICA: AT A GLANCE

• Parent Company.
  Mitsubishi Motors Corporation (MMC), headquartered in Tokyo, Japan, was established in 1970 as an independent automotive company. (See separate fact sheet.)
• MMNA Sales Division.
  Mitsubishi Motor Sales of America, Inc. was established in 1981 by MMC. Located in Cypress, Calif., MMNA Sales Division markets a full line of vehicles including coupes, convertibles, sedans and sport utility vehicles. (See separate fact sheet.)
• MMNA Manufacturing Division.
  Originally incorporated as Mitsubishi Motor Manufacturing of America, Inc. (MMNA), located in Normal, Ill., the Manufacturing Division operates Mitsubishi's only manufacturing entity in North America. The first cars came off the line in 1988. In 2004, the Endeavor, Galant, Eclipse, Eclipse Spyder, as well as two vehicles for DaimlerChrysler were assembled in Normal. (See separate fact sheet.)
• Finance.
  Established in 1991, Mitsubishi Motors Credit of America, Inc. (MMCA) is Mitsubishi Motors' North American captive finance subsidiary with a $6 billion portfolio. (See separate fact sheet.)
• Canadian Operations.
  In September 2002, Mitsubishi Motors began selling cars in Canada through Mitsubishi Motor Sales of Canada, Inc. (MMSCAN). (See separate fact sheet.)
• Caribbean Operations.
  Mitsubishi Motors sells cars in Puerto Rico through Mitsubishi Motor Sales of Caribbean, Inc. (MMSC), which in 2002 came under the umbrella of MMNA.
• Research and Development. -
  Mitsubishi Motors' research and development operations oversee research, technical compliance, product development, design and some testing of Mitsubishi Motors vehicles for the North American market. Based in Ann Arbor, Mich., with six locations across the United States, it is also responsible for providing input on technical compliance, emissions and safety-related matters to MMNA and MMC.
• Public Affairs.
  Mitsubishi Motors established a Washington, D.C. office in 1989 to focus on government relations, advocacy, information analysis and dissemination and public outreach.