Mitsubishi cars will stop being sold in the UK and Europe.
Importers Colt Cars, of Cirencester has written to over 100 UK franchise dealers saying the news was unexpected from Japan and meant no new generation models would be coming through the system but they can sell current models.
Colt Cars is working to ensure as many retailers as possible are retained to support customers with parts and servicing but the first of the new models, the Eclipse Cross PHEV and forthcoming Outlander PHEV will not be coming to the UK.
The Gloucestershire based importer, which has about 247 people in its business, introduced Mitsubishi to UK buyers 45 years ago is now actively seeking a new brand to bring into the country in much the same way as it worked with Mitsubishi nearly half a century ago.
In the first six months of 2020, half of which was affected by the closure of dealerships due to Coronavirus regulations, Mitsubishi recorded 4,708 registrations, 51.88% below H1 2019.
Last year Mitsubishi reported under 16,200 registrations in the UK, a drop of over 23% on the 2018 total and the second steepest decline of a mainstream importer.
Mitsubishi is part of the Renault and Nissan Alliance which has recently announced its intention to cut costs and refocus its brands around the world.
It’s latest quarterly finance report to stock markets Mitsubishi showed it lost over £1.3 Billion overall and its operations took a hit of £393.6 Million compared to a profit 12 months ago of £28.5 Million.
It has just announced its “Small but Beautiful” three-year business plan to concentrate on core regions and technologies. In that it will share models and technology from Renault-Nissan and concentrate on low carbon vehicles with particular emphasis in Far East and then Africa and South America where its 4×4 experience will be its strength.
