Everything You Need To Know About The Rise Of Mitsubishi!November 9, 2019
Mitsubishi is a well-known name in the automobile industry. Mitsubishi is a huge having its roots in different sectors and industries, but it has achieved great success in the automobile industry. It manufactured its first vehicle in the year 1917 and stepped into the world of automobiles. Their first production was named the Model A and was the first series of vehicles produced in Japan. These model A cars were built with hands and had the capacity to hold about seven people comfortably, but the major problem with it was that everyone was not able to afford it, and it was way too expensive for the common people.
Model A stayed in the market for some time, and soon, its production was stopped because of its high cost and low sales.Mitsubishi stayed away from the automobile industry for some time after producing model A. In that time span; it focused on heavy industries such as aircraft and shipbuilding. There various people working as Mitsubishi motor wreckers and wreck the Mitsubishi vehicles sold by owners. If you have a vehicle and want to leave it, then you may contact them. Mitsubishi stepped once again in the car production in 1937 and got lucky this time.
Essential aspects of the history of Mitsubishi
Trying their luck once again
After failing miserably in their first try in 1917, it came back in 1937 and produced a new model named PX33, and luckily they got successful this time, and they started producing it for military forces and gaineda lot of popularity and success. It kept on producing commercial vehicles till 1960. At the time of world war, japan government put more pressure on producing war vehicles and weapons for vehicles, which put a halt on the production of commercial vehicles.
Beginning the mass production
The war left Japan in poor financial and economic conditions. It took some time to recover from the war damage, and by 1960 it gained some stability.The earning of people was increasing, and with the increase in cash flow, their purchasing capacity boosted and now they willing to purchase cars. This has another chance to Mitsubishi, and it started mass production of vehicles for Japanese people. They began with a four-door sedan model named Mitsubishi 500, then launched Minica Kei car and didn’t stop after that.
Rise of Mitsubishi
The three different companies of Mitsubishi came together and started Mitsubishi shipbuilding and engineering. They now focused on producing passenger vehicles and commercial vehicles. This was the moment from where it started to climb the ladder of success and never stopped. It began to put effort into expanding its market by collaborating with other manufacturers in other countries. Chrysler was the first one who bought the share of Mitsubishi and allowed it to flourish in the US. As the market expanded, Mitsubishi increased its production from 75000 units per year to 250000 units per year.
Facing the losses
The road to success for Mitsubishi has been full of hurdles and ups and downs. As it started dominating the Asian market, the market witnessed a great period of recession, which affected its business. The currency crashed, and the company had to face its biggest downfall in 1997 and suffered high losses.