Mitsubishi Motors : World economy forces down production

Mitsubishi Motors announces production, sales and export figures for December 2008 and calendar year 2008.

7.4% increase in Shogun sales
Slower sales in Russia and The Ukraine cause fall in exports to Europe
Mitsubishi Motors Corporation today announced global production, as well as domestic sales and export figures for December 2008 and for the 2008 calendar year.

December 2008
Production: total and in Japan
Total global production came in at 72,916 units, a decline of 38.5 percent over December 2007 and the tenth consecutive monthly decrease since March. Production volume in Japan at 42,329 units was down 46.6 percent as a 49.4 percent decrease in passenger car and an 18.3 percent decline in commercial vehicle output saw year-on-year output fall for the second consecutive month. The fall in production volume in Japan was due mainly to the impact on sales volume in the company's world markets of the global financial crisis.

Sales in Japan
Vehicle sales in Japan in December totalled 11,143 units, a 31.3 percent decrease year-on-year and the 16th consecutive monthly decline since September 2007. Registered vehicle sales volume was 47.1 percent down on the same month last year, despite a 7.4 percent increase in sales of the Shogun.1 Minicar sales volume was 19.0 percent down despite a healthy 52 percent increase in sales of the Shogun Mini.

Production overseas
Overseas production volume totalled 30,587 units, 22.3 percent down over December last year and the tenth consecutive monthly decline. By region, output in North America at 3,256 units was 30.6 percent down as production levels were adjusted for slow sales in the United States. In Europe, output at 1,418 units was 70.7 percent down as production levels at NedCar were tailored to sluggish sales in the region.

Export shipments from Japan
Total exports from Japan of 27,681 units were 51.5 percent down on December 2007, marking the second consecutive month of year-on-year decreases. Exports to Asia at 2,026 units were 59.2 percent down on December 2007 due mainly to a drop in exports of built-up models to China. Exports to Europe at 5,115 units were 72.8 percent down due mainly to a major drop in sales in Russia and The Ukraine.

Calendar Year 2008
Production: total and in Japan
In calendar year 2008 total global production fell 7.8 percent below the previous year, the first year-on-year drop in two years. Production volume in Japan in 2008 came in at 0.5 percent under that for the previous year, the first decrease in four years, as a 0.2 percent increase in passenger car output failed to cover a 6.1 percent fall in commercial vehicle output. While output in Japan was up year-on-year in the first few months of the calendar year, the impact of the global financial crisis on the world economy forced production levels down as sales volume in the company's markets started to drop in the autumn. As a result output for the full calendar year came in at virtually the same level as the previous year.

Sales in Japan
Vehicle sales on the Japanese market in calendar 2008 recorded the second consecutive year-on-year decrease. Total registered vehicle volume was 21.8 percent down, despite growth in Galant Fortis and Colt model sales. Minicar volume declined by 13.1 percent, despite higher sales of the Shogun Mini.

Production overseas
Overseas production for calendar 2008 fell 18.8 percent over the pervious year, the first decline since 2006. Output in North America and in Europe came in at 58,963 and 53,661 units, 25.1 percent and 19.5 percent down respectively over calendar 2007 totals as both regions were hit by falling sales.

Export shipments from Japan
Exports from Japan registered a 5.7 percent increase over the total for calendar 2007, registering the third consecutive year-on-year gain since calendar 2006 and marking a new record since the company spun off its truck and bus operations in 2003. Total export shipments to Asia grew by 3.1 percent to 41,587 units, principally on the back of higher sales of built-up models in China.

Exports to North America fell 2.3 percent to 64,785 units despite a strong 35 percent increase in shipments to Canada. Shipments to Europe grew 19.6 percent to 264,791 units as strong sales in Russia and The Ukraine more than made up for slower sales elsewhere.