- Colt Car Company
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The Colt Car Company Ltd Type Private limited company Industry Motor vehicle import and distribution Founded UK (March 21, 1974) Headquarters Watermoor, Cirencester, Gloucestershire, UK Key people Jim Tyrrell (Managing Director) Revenue £554 million[1] Employees 350[1] Parent Mitsubishi Corporation[2] Subsidiaries Spitalgate Dealer Services
Shogun Finance
Colt Mid WestWebsite Mitsubishi-Cars.co.uk The Colt Car Company Limited is a privately owned business established in 1974 as part of Mitsubishi Motors' global expansion programme for the purpose of importing and distributing cars and light commercial vehicles in the United Kingdom.[3] For the first decade of its existence, British market Mitsubishis were sold under the "Colt" marque until the rebranding to Mitsubishi, which then bought the marque in line with the rest of the world.
It was a 51/49 joint venture between Colt Automotive Ltd and Mitsubishi Motors Corporation.[2][4] Three subsidiary companies exist: Spitalgate Dealer Services, which specialises in dealer wholesale stocking, Shogun Finance, the retail finance company, and Colt Cars Mid West, which owns eight Mitsubishi dealerships across the south of England.[3]
Sales since 1995
For the first twenty years of its existence, business was restricted by voluntary import quotas, which limited the company to around 10,000 sales per year.[3] The relaxation of these quotas in 1996, together with the introduction of European-built models at the NedCar facility in Born which were unaffected by the quota, allowed for a rapid expansion in the late 1990s.[3]
In 2008, David Blackburn retired his shareholding of the company and his stake was sold to the Mitsubishi Corporation, specifically to its subsidiary MC Automobile (Europe) NV (MCAE). As result, Colt Car Company is now a wholly owned subsidiary of MCAE.[3]
Year Total sales 1995 c.12,000 1996 c.17,700 1997 c.23,800 1998 c.23,500 1999 c.20,600 2000 18,087 2001 22,133 2002 26,419 2003 32,882 2004 37,545 2005 37,812 2006 34,467 2007 30,953 (Sources: Facts & Figures 2000, Facts & Figures 2005, Facts & Figures 2008, Mitsubishi Motors website)
References
- ^ a b Gloucestershire Top 100 Companies 2006 (Colt Car Co Ltd ranks sixth by revenue)
- ^ a b Company structure
- ^ a b c d e Official company history, Mitsubishi Cars UK website
- ^ "Subsidiaries and Affiliates", Mitsubishi Motors website
External links
Categories:- Mitsubishi Motors subsidiaries
- Privately held companies of the United Kingdom
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