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27 January, 2020 - 29 January, 2020
On July 24, Japan based auto maker Mitsubishi, released a statement to dealers and employees in the U.S informing its intention to search a buyer for its Normal, Illinois, plant.
It will sell or close the plant, according to the statement released by the company: it will find a buyer by November, or it will close the its only plant in Northern America for good. According to a source close to the company, there are already some candidates, including one Detroit manufacturer, but a deal must be signed before confirming anything.
The Russian recession has been the straw that broke Mitsubishi’s back: despite in early 2000s the small plant was able to produce up to 222,000 vehicles a year, the latest fiscal year counted only 64,000 vehicles, making the operations too expensive to be maintained in the States. The car manufacturing brand was keeping the plant open to supply both the American and Russian market, but not even a 25% increase in North American sales has counterbalanced the huge losses in Russia, leading the company to opting for closure. The brand has declared it will keep supplying the American market, but from its plant in Japan.