Mitsubishi Motors in the UK’s aftersales business is set to be taken over by International Motors, the importer of Subaru and Isuzu.
The two companies are in advanced talks it has been revealed today and are currently in the final stages of a due diligence process.
Mitsubishi has been winding down its operations in the UK and is likely to have stopped selling new cars here by September this year.
Many of Mitsubishi’s former dealer network have since signed up with Isuzu or Subaru after the announcement was made in the summer last year or joined other brands.
Andrew Edmiston, managing director of IM Group, said: ‘We are widely recognised for our award-winning customer service and we are confident that we will be able to offer the high quality of service Mitsubishi customers are accustomed to.
‘We have a longstanding relationship with Mitsubishi Corporation and a good track record of representing Japanese brands in the UK market.
‘This fits perfectly with our long-term strategy to expand our automotive business.’
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Mitsubishi Motors in the UK says the sale would ‘ensure the quality of service it provides to its customers and its dealer network would be maintained well into the future’.
The deal also provides longer term security and opportunities for as many of its staff as possible.
Talks had previously been held between SsangYong importers Bassadone Group and Mitsubishi over a similar deal, but those failed.
Rob Lindley, managing director of the Colt Car Company, said: ‘There is an excellent fit between the Mitsubishi Motors brand and International Motors.
‘They, too, are deeply committed to taking great care of their customers and I feel very confident that IM will be an outstanding long-term partner to our Mitsubishi dealers too.
‘Once the due diligence process has been completed, the team at the Colt Car Company will work hard to ensure that the transition is a success, thereby ensuring the best possible outcome for our employees, dealers and customers.’
The commercial details of the deal will remaining confidential. If a successful conclusion is reach, more details are due to be announced.