Mitsubishi Motors Stalls Move Into Canadian Market
Dow Jones
CYPRESS — Mitsubishi Motors Corp. is temporarily shelving its plans to enter the Canadian market because of substantial operating losses last year, the company’s U.S. marketing unit said Tuesday.
The unit, Cypress-based Mitsubishi Motor Sales, said the company, in the immediate future, intends to focus on restoring the U.S. operations to profitability.”
The company said Mitsubishi Motor Sales of America Distribution Services Canada Inc. will continue to provide parts for the vehicles in service in Canada that were built by Mitsubishi Motors but sold under Chrysler Corp. nameplates. Seven employees who were working on opening retail operations will be offered severance packages.
