WHAT WILL HAPPEN TO THE COLT CAR COMPANY?
It’s a worrying time for the 210 employees of UK Mitsubishi importer the Colt Car Company and its 1700-or-so directly associated dealership staff, not to mention the myriad suppliers that feed into this 15,000-vehicle-sales-per-year operation.
Word is that while there was some inkling of tough news on the horizon, people expected something focused on cuts around the edges, not a cut full stop.
However, there are also reports that Colt’s senior management are already in talks with potential new partners and that the clarity received from Mitsubishi has helpfully accelerated what were tentative talks with alternative brands, most likely Chinese and looking to bring a cost-effective range of electric vehicles into the UK. While launching a new brand is always a gargantuan task, the timing is perfect in that respect: the EV revolution has potential to tear up the form book on brand loyalty and there’s a clear opening for anyone who can crack open the market for truly affordable EVS.
While some media speculation has pointed to Chinese brand Haval (a big-selling SUV maker owned by Great Wall, which previously tried to make inroads in the UK with pick-up trucks) being the front-runner, Autocar understands that this is wide of the mark. In fact, it’s likely that Haval is one of several companies weighing up the possibilities of working with an established UK importer and retail network.
Meanwhile, Colt has stock of 15,000 Mitsubishi cars and pick-up trucks to sell and the capability to keep importing from Japan vehicles that comply with European Union emissions standards well into 2022.
On a normal basis, that would be enough to keep dealerships busy for more than a year or, in a world suffering from Covid-19, perhaps two. Then there’s the prospect of ongoing and profitable maintenance work thereafter, including Mitsubishi’s legally binding 10-year commitment to continue to provide parts, warranty and service support to the owners of any car from the date that it goes out of production.