• Brandweek, Monday, November 14, 2005 11:15 AM

DaimlerChrysler AG is cutting its financial ties to Mitsubishi, the company said. The move comes despite Mitsubishi's introduction of the re-designed Eclipse and the recently released Raider pickup truck, which edged the company up one percent in unit sales in October. Even so, Mitsubishi remains 26 percent down for the year to date. The Japanese automaker said the split with Chrysler would not affect Mitsubishi's current marketing plans; the brand is handled by BBDO, New York. In a statement, Mitsubishi said, "Although capital ties between Mitsubishi Motors Corporation and DaimlerChrysler AG will be dissolved as a result of the sale, ongoing individual alliance projects are progressing smoothly. Those projects include joint development and production of engines, the shared use of vehicle architecture, and the joint production of passenger vehicles."

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