Mitsubishi Is Coming Back To India, But What About Mitsubishi’s Cars?
Mitsubishi fans were thrilled when they heard the famous car brand is making a comeback to India. Is there enough reason for such euphoria though?
The simple answer is No. Mitsubishi is coming back to India, as Mitsubishi Corp, but there are no known plans to bring any of their popular cars, such as the Lancer, Pajero or Outlander back to India.
What is happening is this: Mitsubishi Corp (the Japanese parent company of Mitsubishi Motors) recently invested in TVS Mobility, a major player in the Indian car sales business. TVS Mobility manages dealerships for various car brands across India. Now, with Mitsubishi joining the game, they plan to create a new company named TVS Vehicle Mobility Solution, as reported by Nikkei.
In TVS Mobility Solutions, Mitsubishi Corp will own about 32% of the shares. Together, they want to tackle different parts of the car world, like selling cars for regular use, big trucks for businesses, and even machines for moving stuff around warehouses. They believe they can make about $2 billion over the next few years from this.
India ranks third in the world in total car sales and Mitsubishi Corp has made some of their plans clear. TVS Mobility will sell cars from several brands. They will also offer car service, rentals and insurance sales. Plus, they’ll sell both regular cars and electric ones, which are becoming more popular in India.
What they have avoided revealing is any plans to bring their popular cars and SUVs back to India. So while they can definitely do it, it is not going to happen anytime soon. That would require them to first decide upon a plant that would manufacture their vehicles. An alternative is to import limited numbers of their cars and SUVs. But this is not going to make Mitsubishi fans happy, as they are likely to be quite high-priced.
The focus is on the partnership with TVS Mobility, fr now. But since Mitsubishi now has a foot in the door, they might bring their cars later on, although they could be pricey imports.
Mitsibishi will invest around $33 million to $66 million, and they’re waiting for the green light from the government. Once they get approval, they’ll work with TVS Mobility to spread their dealerships all over India.
TVS Mobility is already in charge of Honda cars in India. With Mitsubishi on board, they’ll figure out how to expand their reach and offer more car models. Mitsubishi also has plans to introduce electric cars in India. They’ve even announced building a factory in Tamil Nadu, which will create jobs for thousands of people.
Mitsubishi’s History In India
Mitsubishi’s entry into the Indian market dates back to the early 1990s when India began opening up its economy, inviting foreign investments and collaborations. The first car from the brand was a sedan – the Mitsubishi Lancer. The Lancer competed for buyers against the Honda City, the Maruti Suzuki Esteem, Hyundai Accent, Ford Ikon and Tata Indigo. Other competitors were the Daewoo Cielo and the Opel Astra. The Lancer continued selling for a long time, and later Mitsubishi introduced newer and higher variants of the Lancer. The Honda City though was the winner in this battle with its outright performance. Mitsubishi’s major breakthrough in India came through its technical collaboration with Hindustan Motors (HM), one of India’s oldest car manufacturers. This partnership was crucial for Mitsubishi to establish a footprint in the Indian automotive sector.
Following the Lancer, Mitsubishi expanded its portfolio with several models, including the Mitsubishi Pajero, which became synonymous with ruggedness and off-road capability. Other notable launches included the Cedia, Outlander, and Montero.
Here is hoping that we will see newer Mitsuibishi cars in India in the next few years.
The post Mitsubishi Is Coming Back To India, But What About Mitsubishi’s Cars? first appeared on Cartoq.
Mitsubishi fans were thrilled when they heard the famous car brand is making a comeback to India. Is there enough reason for such euphoria though?
The simple answer is No. Mitsubishi is coming back to India, as Mitsubishi Corp, but there are no known plans to bring any of their popular cars, such as the Lancer, Pajero or Outlander back to India.
What is happening is this: Mitsubishi Corp (the Japanese parent company of Mitsubishi Motors) recently invested in TVS Mobility, a major player in the Indian car sales business. TVS Mobility manages dealerships for various car brands across India. Now, with Mitsubishi joining the game, they plan to create a new company named TVS Vehicle Mobility Solution, as reported by Nikkei.
In TVS Mobility Solutions, Mitsubishi Corp will own about 32% of the shares. Together, they want to tackle different parts of the car world, like selling cars for regular use, big trucks for businesses, and even machines for moving stuff around warehouses. They believe they can make about $2 billion over the next few years from this.
India ranks third in the world in total car sales and Mitsubishi Corp has made some of their plans clear. TVS Mobility will sell cars from several brands. They will also offer car service, rentals and insurance sales. Plus, they’ll sell both regular cars and electric ones, which are becoming more popular in India.
What they have avoided revealing is any plans to bring their popular cars and SUVs back to India. So while they can definitely do it, it is not going to happen anytime soon. That would require them to first decide upon a plant that would manufacture their vehicles. An alternative is to import limited numbers of their cars and SUVs. But this is not going to make Mitsubishi fans happy, as they are likely to be quite high-priced.
The focus is on the partnership with TVS Mobility, fr now. But since Mitsubishi now has a foot in the door, they might bring their cars later on, although they could be pricey imports.
Mitsibishi will invest around $33 million to $66 million, and they’re waiting for the green light from the government. Once they get approval, they’ll work with TVS Mobility to spread their dealerships all over India.
TVS Mobility is already in charge of Honda cars in India. With Mitsubishi on board, they’ll figure out how to expand their reach and offer more car models. Mitsubishi also has plans to introduce electric cars in India. They’ve even announced building a factory in Tamil Nadu, which will create jobs for thousands of people.
Mitsubishi’s History In India
Mitsubishi’s entry into the Indian market dates back to the early 1990s when India began opening up its economy, inviting foreign investments and collaborations. The first car from the brand was a sedan – the Mitsubishi Lancer. The Lancer competed for buyers against the Honda City, the Maruti Suzuki Esteem, Hyundai Accent, Ford Ikon and Tata Indigo. Other competitors were the Daewoo Cielo and the Opel Astra. The Lancer continued selling for a long time, and later Mitsubishi introduced newer and higher variants of the Lancer. The Honda City though was the winner in this battle with its outright performance. Mitsubishi’s major breakthrough in India came through its technical collaboration with Hindustan Motors (HM), one of India’s oldest car manufacturers. This partnership was crucial for Mitsubishi to establish a footprint in the Indian automotive sector.
Following the Lancer, Mitsubishi expanded its portfolio with several models, including the Mitsubishi Pajero, which became synonymous with ruggedness and off-road capability. Other notable launches included the Cedia, Outlander, and Montero.
Here is hoping that we will see newer Mitsuibishi cars in India in the next few years.
The post Mitsubishi Is Coming Back To India, But What About Mitsubishi’s Cars? first appeared on Cartoq.
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