AS ECONOMIES AROUND the world begin to show signs of recovering, the impact of the global financial crisis is still being felt. Such appears to be the case for Mitsubishi tuning house Ralliart, announcing early this morning that it will scale back its business operations from the beginning of April.
In a press release issued just after midnight, Australian Eastern Standard Time, Ralliart President Masao Taguchi said that the "business case surrounding our company radically became worse" in the wake of the economic downturn.
"We have reached the conclusion that we Ralliart Inc., would scale down our business activities as of the end of March 2010," Mr Taguchi said.
Along with the scale down of our business activities this time, we would cease the following business and operation which we have done so far. We would like to express our sincere apology to all of customers though we would make you much inconveniences [sic]."
Mr Taguchi said that support for motorsport customers will be cancelled from the end of March, along with the planning and development of new Ralliart products. FIA VO parts will in the future be developed by Mitsubishi directly.
Mitsubishi Australia spokesperson Lenore Fletcher told TMR today that Ralliart's decision to close down won't affect availability of any Mitsubishi models in this country, including the Lancer Ralliart range.
She also said future design and production of performance parts would be handled by Mitsubishi, meaning motorsport customers should not be adversely affected by Ralliart's departure.
"We'll continue to support our past and present customers in their motorsport activities," Ms Fletcher said.