1. Declining Sales: The late 1990s saw a significant decline in sales for sports cars in general and the Mitsubishi 3000GT was no exception. The increasing competition from other manufacturers and changing consumer tastes impacted the demand for high-performance sports cars.
2. Rising Development Costs: The 3000GT was a technologically advanced car for its time, featuring all-wheel drive, twin-turbocharged engines, and active aerodynamics. However, the development and manufacturing costs of such technologies were escalating, making it challenging for Mitsubishi to maintain profitability.
3. Changing Regulations and Emission Standards: The automotive industry faced stricter emission and safety regulations during that period, requiring additional investments and modifications to vehicles. The 3000GT, with its older platform and powertrain, would have required significant upgrades to meet the evolving standards, further increasing production costs.
4. Mitsubishi's Financial Struggles: In the late 1990s, Mitsubishi faced financial challenges due to several factors, including the Asian economic crisis and the recall of its flagship Diamante model. These issues diverted resources and focus from the development and production of high-performance sports cars like the 3000GT.
5. Shift in Consumer Preferences: During this time, there was a growing trend towards more practical and SUV-style vehicles. The market demand shifted away from high-performance sports cars, and manufacturers like Mitsubishi needed to adjust their product lineups accordingly.
As a result of these factors, Mitsubishi decided to discontinue the 3000GT, ending the production of one of its most iconic and memorable sports cars.
