DaimlerChrysler's Latest Move May Not Affect U.S. Medium Market
The recently announced purchase of part of Mitsubishi Motors Corp. by DaimlerChrysler AG further complicates the international family of truck makers, but it is not expected to affect the U.S. medium-duty truck market in the near future.
The conflict comes in that Mitsubishi and its truck and bus division are allied with Volvo AB, one of DaimlerChrysler's main competitors. The unit is the parent company of Mitsubishi Fuso Trucks of America in Bridgeport, N.J., a supplier of Class 3 to 7 low-cab forward trucks in the U.S. market.
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In a deal announced March 29, DaimlerChrysler's primary goal in buying 34% of MMC is to establish a foothold in the Asian market for its automobile products.
In exchange, Mitsubishi wanted cash to ease some of its debt. The alliance with DamilerChrysler is also appealing for Mitsubishi because of the German-American firm’s strong research and development history.
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