Mitsubishi Withdraws from U.S. Truck Market

03/12/96

NikkeiNet reported that Mitsubishi has announced it's withdrawal from the U.S. pickup truck market due to a 25% tariff that the U.S. imposes on imported trucks, sharpening competition, and decreased demand.

Exports of the one ton Japanese-built Mighty Max pickup have already been suspended, and it's sale in the U.S. will be discontinued when it's 2,700 truck inventory sells out.

Mitsubishi also announced that it will relocate their truck production from Japan to Thailand, but that the 25% tariff will most likely still make it infeasible to export the truck to the U.S.

Mitsubishi sold 37,800 pickups in the U.S. in 1987, but only 5,000 in 1995. Mitsubishi is the first Japanese automaker to withdraw from the U.S. pickup market, Nissan Motor Co. and Toyota Motor Corp. survive it.

Paul Dever -- The Auto Channel