The issue is complicated and involves finance mainly.
Mitsubishi lost a lot of money in the home market over airbag and brake faults that need to be corrected under warranty. Further Mercedes//// Daimler chrysler was a major stockholder and disinvested after taking away small car tech and knowhow after Daimler chrysler became a successful merger.
However Mitsubishi Heavy industies and the Japanese banks bailed out the car company and it is getting on its feet again.
Certainly some of their cars are much better than even European equivalents... the Colt, Lancer/ Evolution/ Pajero/ and the old Galant..... which was said to be the more intelligent alternative to te BMW 3 series.... by Car magazine no less.