MITSUBISHI MOTORS REPORTS NINE-MONTH FINANCIAL RESULTS FOR FY2018

Mitsubishi Motors Corporation (MMC) today announced its financial results for the nine-month period to December 31, 2018

FY2018 Nine-Month Financial Results Highlights
Mitsubishi Motors reported net sales of 1,794.1 billion yen for the nine-month period to December 31, 2018, an 18.2% increase year-on-year. Operating profit rose from 64.6 billion yen in the same period of fiscal 2017 to 85.0 billion yen, representing an operating margin of 4.7%. Net income was 69.2 billion yen.

 

 

Global Sales Performance
 Global sales volume for the nine months ended December 31, 2018 increased 15% year-on-year to 894,000 units.

ASEAN sales increased 27% year-on-year to 235,000 units, primarily driven by the strong demand for the Mitsubishi XPANDER next-generation crossover MPV.

Sales in Europe increased 29% year-on-year 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 increased year-on-year in all regions, including the Oceania region and our 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.

FY2018 Full-Year Consolidated Financial Forecasts
Our FY2018 full-year consolidated financial forecasts are shown below and remain unchanged from the filing made to the Tokyo Stock Exchange in May 2018.

 

Osamu Masuko, Chairman and Chief Executive Officer, Mitsubishi Motors said "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.

 

In addition to slowing demand in major markets such as the U.S. and China, we are continuously facing a situation of unstable exchange rates. We will be relentless with our continuing efforts to reduce costs, while focusing first and foremost on achieving our full-year target.

We are not optimistic that this difficult business environment will be temporary, so as a starting point we intend to redefine our ‘Vision for Mitsubishi Motors’ to be a strategy to survive and steadily increase profitability in a sustainable manner by utilising alliances on our scale.

For more details about the Mitsubishi product line-up visit www.mitsubishi-cars.co.uk

ABOUT MITSUBISHI MOTORS
Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in Mitsubishi Motors’ DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, Mitsubishi Motors introduced its new brand strategy in 2017, expressed in its “Drive your Ambition” tagline – a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today Mitsubishi Motors is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.

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