In the early noughties brain power at Misubishi North America came up with the world's worst strategy. Zero,Zero,Zero Zero down, Zero % interest, Zero payments for one year.
Target new college grads. Everyone signed up for free cars. At end of year quite a few were reluctant to start paying on a year old car that had depreciated and as more were repoed and hit auctions down went book value.
This caused Mitsu North America to ask their friends at Daimler Benz for more money, a request that eventually led to the divorce of Mitsu. and Daimler Benz.
Some how this adventure into selling things on the never never should have lit a bulb or two in the real estate/mortgage biz, but it didn't.
Target new college grads. Everyone signed up for free cars. At end of year quite a few were reluctant to start paying on a year old car that had depreciated and as more were repoed and hit auctions down went book value.
This caused Mitsu North America to ask their friends at Daimler Benz for more money, a request that eventually led to the divorce of Mitsu. and Daimler Benz.
Some how this adventure into selling things on the never never should have lit a bulb or two in the real estate/mortgage biz, but it didn't.
