In 1991, Chrysler sold its equity stake in Diamond-Star Motors to its partner Mitsubishi, and from then on the two companies continued to share components and manufacturing on a contractual basis only. Chrysler decreased its interest in Mitsubishi Motors to less than three percent in 1992, and announced its decision to divest itself of all its remaining shares on the open market in 1993. The two companies then terminated their close alliance, with Mitsubishi no longer supplying parts for engines and transmissions for Chrysler.