Does anybody know whether Daimler-Chrylser still hold a controlling interest or shares in Mitsubishi Motors?

Question

I think at one point they held a 34% stake in Mitsubishi Motors but I have also heard that Daimler-Chrysler sold what they held and the Mitsubishi family of companies had to buy Mitsubishi-Motors to keep them afloat.

Can anyone please confirm?

Answer 1

Mid 2000 - DCX buys 34% of Mitsubishi for $1.9bn.
Mid 2001 - DCX expands shareholding to 37%.
2004 - DCX refuses to finance a rescue package valued at between $2bn and $6bn. Mitsubishi is forced to issue new shares to raise funds. This causes DCX's stake to be diluted to 23% in May 2004, and subsequently to 12.4% with further share issues.
December 2005 - DCX sells the last of its shares for $800m.

I should know. Most of the Wikipedia article cited above was written by/expanded by me (I'm the user "DeLarge").

Also note that although they no longer control car and light truck production, DCX still owns 85% of Mitsubishi Fuso, the Bus and Commercial Truck manufacturer. And the two companies still have a few partnerships going (shared Mitsubishi/Chrysler platforms, the GEMA engine alliance, the next Smart Fortwo, etc etc).

Answer 2

In 2005 Chrysler announced that it would not buy remaining shares in Mitsubishi to help them out. Chrysler sold all remaining shares in Mitsubishi in 1993 and continued business with them in contract only. They were still buying components like engines from them up until recently but they've slowly been divorcing themselves from the Japanese automaker as their quality and sales have plummeted in recent years while DCX's quality has continued to improve and rise.

At one time Mitsubishi was a major contributor to Chrysler's salvation through the 1970's and 1980's. They produced the Colt, Arrow, D-50 and Arrow trucks, Sapporo/Challenger, Starion, Talon/Laser and Stealth for Chrysler in addition to thousands of reliable engines put into their American cars. It's sad to see them slip away like this.

Although the Mercedes/Chrysler merger saw a renewed interest in MMA with DCX again acquiring up to 34% stock, this was all liquidated in 2005 and MMA is completely on it's own again.

Answer 3

i hate to burst your bubble mate but i think you will find it is the other way around, with Mitsubishi owning majority shares in Daimler Chrysler they were not allowed to buy out completely because of legislation passed to protect US manufacturers.
In the UK they took over the lot and now there is no British owned manufacturers they are all owned off shore which means they no longer have a say in what happens to the factory's or the workers, they will make them were it is cheapest to manufacture, like south America or Mexico, that's capitalism