An auto industry analyst says Mitsubishi's decision to bring a high ranking corporate executive to the US and make him Chairman of the company's North American subsidiary is hugely significant. Paul Eisenstein of the Detroit-bureau-dot-com says Gayo Uesugi has expertise in product development and cost control, two very crucial elements of the company's needs right now:
"Well, I can argue both ways, with this is an act of desperation, the last act if as it were, or something to turn Mitsubishi around, I don't think they would have brought him over here if he were simply tidying things up to shut it down"
Mitsubishi sales have been falling sharply as it phases out older model vehicles, including a couple made at its plant in Normal. But there are few new autos in the company lineup. Eisenstein says the new Chairman may do some of the same cost cutting measures Detroit based companies did as they were struggling through the Great Recession.
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