Chrysler Australia and Mitsubishi Motors Australia
Chrysler Australia's parent company began working closely with Mitsubishi Motors Corporation after they acquired a 15 percent interest in the company in 1971, with the result that Chrysler Australia began building the Mitsubishi-designed Chrysler Valiant Galant. The association with Mitsubishi also gave Chrysler Australia another winner—the 1977 Chrysler Sigma. With a range of 4-cylinder "Silent Shaft" engines, competitive pricing, "Japanese" style and the availability of a luxurious "SE" version, with optional leather trim (an innovative sales approach in its era), the Sigma marked Chrysler's sales comeback. Sigma soon became market leader in its class.
In 1979 Mitsubishi Motors Corporation and Mitsubishi Corporation each acquired a one sixth equity in Chrysler Australia and in April 1980 the two companies purchased the remaining shares in the company from the US Chrysler Corporation. The company name was changed to Mitsubishi Motors Australia Limited on 1 October 1980. Mitsubishi continued to build the Valiant models with Chrysler badging until August 1981 and production of the Sigma range continued under the Mitsubishi name until 1987. Colt, Magna, Verada and 380 models were subsequently produced before production of passenger vehicles was discontinued in March 2008. The company continues to operate today as one of Australia's major importers of road vehicles.
Read more about this topic: Chrysler Australia
Famous quotes containing the words australia and/or motors:
“It is very considerably smaller than Australia and British Somaliland put together. As things stand at present there is nothing much the Texans can do about this, and ... they are inclined to shy away from the subject in ordinary conversation, muttering defensively about the size of oranges.”
—Alex Atkinson, British humor writer. repr. In Present Laughter, ed. Alan Coren (1982)
“When General Motors has to go to the bathroom ten times a day, the whole country’s ready to let go. You heard of that market crash in ‘29? I predicted that.... I was nursing a director of General Motors. Kidney ailment, they said; nerves, I said. Then I asked myself, “What’s General Motors got to be nervous about?” “Overproduction,” I says. “Collapse.””
—John Michael Hayes (b. 1919)