Photo: Mitsubishi
After the Renault-Nissan-Mitsubishi supergroup published its Alliance 2022 business plan, Mitsubishi follows up with what it’s going to do in the next three years. Excluding the Eclipse Cross, the Japanese automaker will launch no less than five all-new models, the last being an all-electric kei car due in 2020.
Titled “Drive For Growth,” the three-year business plan is focused on sustainability and growth. For starters, Mitsubishi intends to improve the operating profit margin to 6 percent or more. In addition to this, the automaker will expand its presence in the ASEAN, U.S., and Chinese markets. All of these, including the five all-new models, come as a result of a 600 billion yen ($5.32 billion) commitment in capital expenditure and R&D costs.
“This is an ambitious program to maximize our strengths in growing product segments, especially four-wheel drive, and to pursue growth in markets where our brand has strong potential,” said Osamu Masuko, chief executive of Mitsubishi. “We will rebuild trust in our company as our highest priority,” he added, and that’s a must in the aftermath of the fuel economy scandal.
Other than the five all-new vehicles, an additional six models will come in the form of facelifts. By the end of fiscal year 2019 (sometime in calendar year 2020), Mitsubishi expects its five best-selling global models to account for 70 percent of total sales volume. Regarding those five, the automaker says the list consists of sport utility and 4WD vehicles, as well as plug-in hybrids.
The purpose of this plan is for Mitsubishi to increase annual sales by 30 percent (1.3 million vehicles per year) by 2020, translating to revenues of 2.5 trillion yen ($22.1 billion at current exchange rates). Regarding the U.S. market, where the Eclipse Cross will go on sale for the 2018 model year, the automaker will improve its dealership network with the primary aim of selling 130,000 vehicles in the 2019 fiscal year. On that note, U.S. customers will be happy to find out that the Outlander PHEV is finally available to buy.
“This is an ambitious program to maximize our strengths in growing product segments, especially four-wheel drive, and to pursue growth in markets where our brand has strong potential,” said Osamu Masuko, chief executive of Mitsubishi. “We will rebuild trust in our company as our highest priority,” he added, and that’s a must in the aftermath of the fuel economy scandal.
Other than the five all-new vehicles, an additional six models will come in the form of facelifts. By the end of fiscal year 2019 (sometime in calendar year 2020), Mitsubishi expects its five best-selling global models to account for 70 percent of total sales volume. Regarding those five, the automaker says the list consists of sport utility and 4WD vehicles, as well as plug-in hybrids.
The purpose of this plan is for Mitsubishi to increase annual sales by 30 percent (1.3 million vehicles per year) by 2020, translating to revenues of 2.5 trillion yen ($22.1 billion at current exchange rates). Regarding the U.S. market, where the Eclipse Cross will go on sale for the 2018 model year, the automaker will improve its dealership network with the primary aim of selling 130,000 vehicles in the 2019 fiscal year. On that note, U.S. customers will be happy to find out that the Outlander PHEV is finally available to buy.
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