Frey to Take Over Mitsubishi Distribution in Switzerland

VIENNA – Emil Frey AG, the car importer and retailer based in Safenwil, Switzerland, will take a majority stake in Mitsubishi Motors Corp. import company MME Vertriebsgesellschaft Schweiz AG effective in October.

The import arm was founded by Mitsubishi Motors Europe B.V. in early 2004 following the collapse of Erb Gruppe, the Swiss conglomerate that included the country’s No.2 vehicle retailer and importer Herfina AG.

Because Mitsubishi’s former Swiss importer was a part of Herfina, Mitsubishi had to act quickly to prevent damage to its brand in Switzerland and Liechtenstein.

Mitsubishi Motors Europe, which currently owns 100% of MME Vertriebsgesellschaft Schweiz, will remain a minority shareholder in the importer. Following the takeover by Frey, the company’s name will be changed to MM Automobile Schweiz AG.

Emil Frey is the Swiss importer for several brands, including Aston Martin, Daihatsu, Daimler, Jaguar, Kia, Land Rover, Lexus, Subaru and Toyota. It also owns 65% of the Swiss importer of Suzuki Motor Corp. vehicles. Its dealerships also sell other brands.

The group is active in Germany, France, Czech Republic and Hungary. It already owns MM Import Hungary Kft., Mitsubishi’s Hungarian importer.

Mitsubishi sold 2,523 vehicles in Switzerland and Liechtenstein in the first seven months of this year, down 10.6% from like-2005.