What's a euro worth these days, about a buck and a quarter? Go dig around in your couch cushions then and you'll probably find enough to have bought your very own assembly plant. That's right, according to Reuters, Mitsubishi just "sold" its Dutch assembly plant to bus-maker VDL Group for a nominal €1.
Before regaling this as the greatest automotive steal since the Phoenix Consortium bought Rover for £10 back in 2000, understand that there are strings attached. Mitsubishi has had the plant on the block with this negligible price tag for some time with the caveat that the buyer retain the Japanese automaker's 1,500 workers. VDL has promised to do so, possibly so it can use them to build cars for BMW under contract, according to the report, though in its announcement of the sale, Mitsubishi did not mention the German carmaker.

Mitsubishi had already scheduled the Born, Netherlands, factory for closure later this year
. The plant, which builds Colt subcompacts and Outlander crossovers, has an annual capacity of some 200,000 vehicles, but is operating at only a quarter of that number. The move will cost Mitsubishi some $352 million, according to the report.


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    • 1 Second Ago
  • 12 Comments
      • 2 Years Ago
      [blocked]
      Ryan
      • 2 Years Ago
      Did Bart Simpson buy it?
      Colin
      • 2 Years Ago
      Peugeot always made rather stolid but comfrtable cars for the middle classes. Citroens on the other hand have created some of the most technologically billiant and beautiful (and charmingl ugly) cs of all time. I really do think that Peugeot/Citroen needs to get real though. Only last week I saw an ad for a tax-reduced Citroen that I might have liked, so I went to take a look. The salesman couldn't have been more charmless or disinterested. He didn't even know, or care, if it came with a proper spare wheel or not. He only had a few brochures left so he told me to look up the details of the car on the net! Needless to say i won't be buying a Citroen, even if i liked the car. There are plenty of deals out there. It is very true that t won't only be Mitsubisi and Saab leaving the European market, if some of the rest don't discover the art of selling cars there will me more closures.
      Hazdaz
      • 2 Years Ago
      Its very nice to see that Mitsu, even being down-and-out, put in a stipulation in this sale that the new owner is to keep its 1500 workers employed. You'd almost never hear about this from an American company where firing people has become a game. Japanese and Europeans companies on the other hand, look to retain their employees as much as possible. And with that, they earn incredible loyalty from their workers and their citizens. There is little wonder why the amount of foreign cars in Japan as well as Europe tends to be considerably lower than here in the US. Companies here have no loyalty to their employees, and conversely, consumers tend to not have loyalty to their home-town teams either.
        Scr
        • 2 Years Ago
        @Hazdaz
        This was very likely (almost a certainty) that this was a condition places upon Mitsu by the Ducth Government. Mitsu would not do this if they were just going to shutter the plant and keep it idle, but in order to cash out of any liabiliy they may owe the government, or the Dutch would have made it either impossible or very expensive to sell the plant outright.
      Cadillacftw
      • 2 Years Ago
      Mitsubishi still makes cars?
      • 2 Years Ago
      [blocked]
      KelperFoxWolf
      • 2 Years Ago
      Selling NedCar was a HORRID mistake. Such an important plant, sold for just one euro? Mitsubishi should go bankrupt.
        Seph
        • 2 Years Ago
        @KelperFoxWolf
        a mistake? LOL! They have got way more efficient, and more effective in Thailand, China, Russia, and Middle east. Not to mention that demands from Europe are likely to slow down, and government programs for companies outsourcing jobs in Netherlands will be slashed.
      QCRamAir
      • 2 Years Ago
      Yep, that's about all she's worth.
      BMW ROCKS!
      • 2 Years Ago
      darn it, i knew i should've made my bid at 2 euro...