Cars We Buy: Mitsubishi
The company's history starts sometime in 1917 when the first Mitsubishi model - a seven-seater sedan based on the Fiat Tipo 3. Although not very successful with only 22 models made, production was discontinued after one year of making cars.
Mitsubishi Shipbuilding and Mitsubishi Aircraft Co. merged in 1934, and by 1937 they were able to produce a prototype for the PX33 sedan, which was mainly used for military purposes as World War II approached.
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A new breed of cars, revitalized models and forward-thinking was what brought Mitsubishi back on track. The Mitsubishi i, a small car perfect for the Asian market and the new Lancer and Outlander were enough to put the company back on the market. This led to the first profitable quarter at Mitsubishi in four years to be declared in 2006.