But The Recent Turn Of Events Imperils The Name Of Mitsubishi And Risks Its Otherwise Unblemished Reputation. Mitsubishi Is In A Very Precarious State Nowadays With A Very Real Threat Of Bankruptcy. It Appears That The Majority Of Australian Citizen Cant Afford The Luxury Of Buying New Cars, Resulting To Four Car Manufacturers In The Verge Of Insolvency. The Mounting Stockpile Of Unsold Cars Makes Mitsubishi Face A Rather Grim Prospect. The Company Is Currently In Negotiation With Employees To Slash Down The Production, Threatening The Jobs Of 600 Workers In Two Of Their Manufacturing Plants In . A Production Target Of 30,000 Units Has To Be Reduced In Result To The Ailing Sales Of Mitsubishi .Noria Takenhara, Mitsubishi Managing Director Announced That Majority Of The Job Losses Would Come From The Management And Administration Staff. He Further Claimed That The 17 Percent Slouch In The Domestic Sales And The Global Overproduction Are The Principal Reasons. Mitsubishi Is Greatly Affected In The Rapid Devaluation Of The Australian Dollar Since The Company Imports Many Of Its Components.The Tokyo-based Car Manufacturer Is Also Intent In Slashing The Salaries Of The Executives As Part Of Their Restructuring Program. As Part Of Their Streamlining Efforts, Mitsubishi Is Also Planning To Close Down Its Engine Assembly Plant In Lonsdale Rendering 650 Workers Potentially Jobless. This Would Undoubtedly Result To More Labor Woes For The Company.The Manufacturing Plant Located At Had Been Struggling For Several Years Now And Lost A 186 Million Dollars When Chrysler Joined The Competition In The Car Industry. However, Mitsubishi Motors Shrugs Off Reports About The Rumor On The Possibility Of Terminating Its Operations In The Country. They Are Asserting That The Restructuring Process They Are Implementing Is Still Part Of Their Long-term Growth Plans.Apparently, Mitsubishi Motors Is Having A Hard Time Keeping Up With The Tough Competition Ensued By Other Car Manufacturers. The Shocking Drop In The Company Sales Somehow Became An Early Indication Of A Bleaker Future. The Company Is In Dire Need To Manufacture A New Model That Would Hopefully Inject Fresh Vitality And Hopefully Rake In Sales For The Next Few Years. Top Executives Of Mitsubishi Are Probably Crossing Their Fingers And Fervently Hoping They Would Be Able To Triumph Against This Crisis.
