Mitsubishi Motors’ record breaking revitalisation plan

In 2004, the Mitsubishi Family (comprising of Mitsubishi Corporation, Mitsubishi Heavy Industries and the Bank of Tokyo Mitsubishi) took back full control of Mitsubishi Motors Corporation following DaimlerChrysler’s sale of its 37% stake in the company.

Since then, it has implemented a successful 3-year revitalisation plan, set to conclude in April 2008, and the latest figures for 2007 show an impressive turn-around in fortunes for the company.

Lancer and Outlander Lead the Charge
Exports from Japan increased by 40.9% over 2006, setting a new record since the company spun off its truck and bus operations in 2003. This was primarily due to:

Fast sales of the new Lancer and new Outlander models, contributing to European shipments growing by a massive 61.9% to 221,308 units.

Exports to Asia growing by 28% to 40,323 units, following higher sales of the new Outlander, Grandis and by the introduction of the new Shogun in China.

Exports to North America growing by 40.7% to 66,334 units – driven mainly by strong sales of the new Lancer and by gains in the Canadian market.

2007 Global Production Summary
2007 global production was up 7.9% on 2006, the first time in five years since 2002.

2007 domestic production rose for a third successive year with an 11.6% increase year-on-year, marking a new record since the splitting off of truck and bus operations in 2003 due to:

201% increase in output of the Outlander (159,614 units) since its 2006 launch in American, European and Chinese markets

26.2% increase in output of the Lancer (282,052 units) with impressive sales in Russia, North America, the Middle East and Africa

557.5% increase in output of the Delica D:5 (34,106 units)

62.7% increase in output of the Pajero (105,212 units)

Despite a dip in domestic sales (the first decline in two years) 2007 saw a boost in sales of the new Delica D:5, Galant Fortis and Lancer Evolution X.

Overseas production also increased for the first time in 5 years - 2% over the previous period. Production in Asian markets grew 8.5% to 368,422 units driven mainly by higher shipments of the L200 pickup truck from Thailand and increased output at China Motor Corporation and South East (Fujian) Motor Co., Ltd.

Japanese Production Soars
Total global production increased by 7.9% (118,648 units) over December 2006, the tenth consecutive monthly increase since March 2006.

Domestic production volume was up 10.3% (79,279 units) marking a 15th consecutive month of year-on-year growth and setting a new record for December since Mitsubishi Motors spun off its truck and bus operations in 2003 due to:

An incredible 92.6% increase in output (28,706 units) of the new Lancer for the Russian, North American, Middle East and African markets

12.3% increase in output (15,663 units) of the new Outlander for European and Chinese markets.
Overseas Production Holds Firm

Overseas production volume totalled 39,369 units, 3.4% up over December last year, marking the fourth consecutive monthly increase since September 2007, in spite of reduced production in North America and Europe.

In Asia production at 25,613 units was 6.3% up on December 2006, driven mainly by higher output at China Motor Co., Ltd. in Taiwan (42.8 percent up at 3,293 units).

In Europe production came in at 4,835 units or 1% down on last year's figure. In North America production at 4,694 units was 27.9% down on last year.

Sales in Japan
Passenger car (registrations and mini-car) sales of 12,528 units and commercial vehicle sales of 3,682 units were 3.5% up and 14.7% down respectively on the same month last year. Total registered vehicle sales were 47.9% up year-on-year driven mainly by firm sales of the Delica D:5, and the recently introduced new Lancer[1] and the Lancer Evolution X.

Export Shipments from Japan
Total exports from Japan of 57,022 units were 47.7% up on December 2006, marking the 14th consecutive month of year-on-year increases and setting a new record for December since Mitsubishi Motors spun off its truck and bus operations in 2003. Highlights include:

Export shipments to Europe of 18,796 units were 28.3% up year-on-year driven by the introduction of the new Lancer and by firm sales of the Outlander.

Exports to Asia of 4,962 units were 37.6% up over the same period last year thanks to firm sales of the new Outlander in China and to the introduction of the new Pajero.

Exports to North America of 7,430 units marked a substantial 103.4% increase over December 2006, this reflecting firm sales of the new Lancer, solid growth in Canada.