Sales increase for Mitsubishi across all regions

Worldwide
Published:  04 February, 2019

Mitsubishi Motors reported net sales for the nine-month period ended December 31, 2018, up +18.2% year-on-year.

Operating profit rose from JPY64.6 billion (US$587.9 million) in the same period of fiscal 2017 to JPY85 billion (US$773.51 million), representing an operating margin of 4.7%, while net income was JPY69.2 billion (US$629.79 million). Global sales volume in the nine months increased +15%, year-on-year to 894,000 units.

ASEAN sales were up +27% to 235,000 units, primarily driven by the strong demand for the Mitsubishi XPANDER next-generation crossover MPV, according to the manufacturer. Sales in Europe increased +29% to 168,000 units, driven by “the continued robust performance” of the Mitsubishi Eclipse Cross and Outlander PHEV in Western Europe and the locally produced Outlander in Russia. Sales volumes are reported to have increased year-on-year in all regions, including in Oceania and the Japanese carmaker’s focus markets of North America and China. “We are therefore progressing in line with the full-year forecasts announced at the start of the current fiscal year”, said Mitsubishi.

"Up until the third quarter, we were affected by the negative movements in emerging and commodity currencies, in addition to repeated natural disasters in Japan. Even in these circumstances, we were able to achieve a year-on-year increase as a whole and secure a level close to our plan in terms of sales volume, net sales and operating profit”, said Osamu Masuko, Chairman and CEO, Mitsubishi Motors.

Headquartered in Tokyo, Mitsubishi says it has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. In 2017, the carmaker revealed its “Drive your Ambition” strategy, which involves a combination of “personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers”.