Time to Go?

Time to Go?

Scheduled to disappearMitsubishi and Volvo are on the chopping block

According to 247wallst.com, Mitsubishi and Volvo have been named two of the brands predicted to disappear within the next year.

 

MITSUBISHI MOTOR SALES OF CANADA, INC. - Nouvelle petite voiture

 

Criteria such as declining sales and losses, rising costs that can’t be offset, loss of customers, declining market share, sale of the company, bankruptcy and notification by the parent company that the brand may go out of business.

 

Mitsubishi sold less than 60,000 cars last year and the numbers have continued to decline by 6.5%, giving them just a 0.3% market share in the US as of April. Results are likely due to the public’s perception of the company after J.D. Power ranked the company 30th out of 33 brands in regards to vehicle dependability.

 

2014-Volvo-S60

 

Volvo also holds on a 0.3% of the US market share with sales being down 8% this year. The company’s limited line up is most likely to blame in this case, however the website reports the company may be in danger on an international scale as well.

 

Source: AutoGuide

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