Doom-mongers claimed the writing was on the wall for Mitsubishi Motors when DaimlerChrysler withdrew its funding two years ago.

They dismissed the injection of funds from Mitsubishi Corporation and claimed the company could not survive without a tie-up with another carmaker to supplement product development.

Since then, however, new models have been launched on schedule and the company says research and development continues unabated.

Its turnaround targets are being met and, while problems in Australia and America resulted in a global trading loss last year, the company did make an operating profit (£314,500 versus a £6m loss in 2004). Further investment has been earmarked for product development this financial year, one that is expected to return operating and trading profits...(This story continues in the July 28 issue of AM.)

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