Mitsubishi has its roots in producing commercial vehicles for its home
market of Japan. Its current selection of vehicles, which include cars,
trucks and SUVs, tend to offer above-average performance and style.
A Japanese word meaning "three diamonds," Mitsubishi was founded in by
Yataro Iwasaki, a descendant of samurais, in the early 1870s. The
company's initial focus was on shipping, but it quickly diversified
into areas such as mining and ship repair. In 1917, Mitsubishi unveiled
the Model A, Japan's first series production passenger car. However, in
the years that led up to World War II, the division responsible for
transportation, Mitsubishi Heavy Industries, was focused mainly on
producing ships and vehicles for the war effort.
It wasn't until 1960, with the launch of the compact Mitsubishi 500,
that the company began producing passenger vehicles on a large scale.
That decade also saw the launch of other Mitsubishi light passenger
vehicles like the 360 Van and 360 Pickup. The company also
distinguished itself on the racetrack during this decade, taking top
honors in Japan's Grand Prix.
Mitsubishi's automobile production arm was officially spun off into a
company of its own with the establishment of Mitsubishi Motors
Corporation in 1970. The company's Colt made its way to American shores
in 1971, the same year in which Chrysler purchased a 15 percent stake
in the new company. However, the line wasn't sold under the Mitsubishi
name; reflecting Chrysler's interest in the company, Colts were sold in
North America under the Dodge marque. By the end of the decade,
Mitsubishi was producing more than 1 million cars per year, and its
lineup had grown to include vehicles like the Galant and the Lancer. In
1982, Mitsubishi began selling cars in the U.S. under its own name.
Mitsubishi hit its stride in the '90s, thanks to the popularity of the
sport-oriented Eclipse and 3000GT in the U.S. and the turbocharged
Lancer Evolution in other parts of the world. In the years since
Chrysler's initial investment in the company, Mitsubishi platforms have
been widely used by the American automaker. The Eclipse, in particular,
was a key vehicle produced by the Diamond Star Motors partnership.
Rebadged versions of the Eclipse were sold in Plymouth and Eagle
dealerships as well. In 1998, Chrysler merged with Daimler-Benz to
become DaimlerChrysler. Mitsubishi's partnership continued with
DaimlerChrysler for a few years but was financially terminated by 2003.
The new millennium has not been particularly good for Mitsubishi. Sales
have wavered and the company was forced to admit that it had
systematically covered up vehicle defects; the resulting furor led to
the resignation and arrest of one of the automaker's former presidents.
The brand has done much to turn itself around since then, streamlining
its vehicle roster and improving quality.
Mitsubishi has its roots in producing commercial vehicles for its home
market of Japan. Its current selection of vehicles, which include cars,
trucks and SUVs, tend to offer above-average performance and style.
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