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Mitsubishi planning to sell Auckland dealerships

8 March 2005

Mitsubishi Motors planning to sell Auckland dealerships

From: Peter Wilkins, general manager sales & marketing, Mitsubishi Motors New Zealand Ltd

Negotiations are underway to sell four Kirk Motors branches in Auckland. Mitsubishi Motors New Zealand have advised staff that discussions are being held with two parties, one interested in purchasing the Waitemata and Manurewa branches and the other looking at the Newmarket and North Shore branches.

Retailing is not the core business for the company. Overseas experience has shown that independently owned and operated dealerships are the most effective method of retailing cars and light commercial vehicles. Mitsubishi Motors will continue to own the key sites.

Heads of agreement are still being negotiated and when finalised, consultations will be held with all affected staff. The prospective purchasers will not proceed without the buy-in of the staff at each branch and the company will not sell if staff are not prepared to transfer to the new owners.

There are no discussions presently underway concerning the other Kirk Motors branches in Wellington and Lower Hutt.

ENDS


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