business

Money-losing Mitsubishi Motors execs to take pay cuts

13 Comments
By YURI KAGEYAMA

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13 Comments
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With all due respect, but I guess those executives made quite some money (for their pockets of course) during the past couple of years. So this "cut" shouldn't hurt them too much!

9 ( +10 / -1 )

The automotive industry is morphing to new technologies. Tesla incredibly now has the largest market cap of any auto company which means high expectations of its future earnings. Mitsubishi's days may be numbered. Sorry.

4 ( +5 / -1 )

Mitsubishi still can do some things well. They've got a lot of experience with off-road/SUV type vehicles, developed EV/PHEV technology, a strong presence in Southeast Asia and other developing markets, and an established kei car production base in Japan.

At the same time, most of their offerings are either outdated or outclassed by the competition, they have far from the best reputation for quality, and they've had some truly awful scandals in the past which paint their internal culture in an extremely poor light to say the least.

Based on that, it's hard to see them as anything other than a niche player. There was a moment in the 90s where they had a lot of exciting products, but those days are long gone. Now, they'll mostly be a support player for the Renault/Nissan alliance, at best.

4 ( +4 / -0 )

Less than 2 years after the take over, everybody from the coup plottets, shareholders and employees have all become worse-off.

There really can't be a better example of a lose-lose situation.

9 ( +9 / -0 )

Good! They are all ridiculously overpaid anyway.

I love my Pajero!

4 ( +5 / -1 )

Is Ghosn going to be mentioned in Every article about Japanese car manufacturers and their losses attributed to the coronavirus pandemic? It's almost as if he were never arrested, the pandemic wouldn't have happened.

13 ( +13 / -0 )

As small businesses go bankrupt, people lose jobs and can't pay rent and resort to depression era food strategies let us shed a tear for the Mitsubishi execs and their pay cut probably taken from their stock options.

You will gain no understanding.

4 ( +4 / -0 )

Nice gesture from top leadership. We don't hear about companies doing this much anymore today.

1 ( +2 / -1 )

Way too lenient. I know some top global firms that give employees a warning if they miss quarterly sales forecast and fires them if it happens again - that separates the men from the boys.

0 ( +0 / -0 )

Ever since 2004, when Mitsubishi were exposed for concealing recall data on their Fuso trucks whose wheels came off, killing a woman in one case, their reputation has been tarnished. The 'Three Great Houses' of the Mitsubishi Group; MUFG Bank, Mitsubishi Corporation, and Mitsubishi Heavy Industries are the leaders of the 40 companies, which have extensive cross-holidings in each other, and together they bailed Mitsubishi Motors out in the mid 2000s. Never been the same since.

0 ( +0 / -0 )

The issues here are the lawsuits and the internal emails of trying to remove Ghosn for maybe years. =That should be very interesting.

Mitsubishi needs to get back into making vehicles that people want. Dated interior tech and hybrid compared to the competition. Philippines, Thailand, Indonesia, Australia (#5 brand) other markets they are still strong. 2020 is a tough year and this data really reflects 2019 = expect 2020 to be worse.

https://www.mitsubishi-motors.com/content/dam/com/ir_en/pdf/financial/2020/200519-4b.pdf

-compared to the competition a $241 million loss for the year is not bad. But if 2020 has a similar or more loss that is not good and the reason management is making the changes now to limit losses.

Montero for the US market may be interesting. Need to bring back the Lancer Evolution and the O.Z. Racing stuff. Solid trucks and diesels (Non-USA). Hybrids. Solar roofs and larger batteries. Innovative, flexible, adaptive stuff, but with solid reliability and safety.

++Fuso truck division was sold years ago.

+++Mitsubishi Zero is a very rare airplane worth more than the Corsair. =P38 territory in worthiness and even more rare.

++++4g63 and Mitsu diesels. =Good stuff, probably cannot make emissions anymore. = Need hybrids for these.

+++++4g64 Shout-out! For all the turbo adders out there keeping the tradition alive.

0 ( +0 / -0 )

Poor Guys just another ESCAPE goats. with 99.4% conviction rate in Japan, good Luck.

0 ( +0 / -0 )

@do the hustle my sentiments exactly! I’m glad that at least one company like this, is finally doing the right thing, especially in the wake of this pandemic.

0 ( +0 / -0 )

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