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Annual Mitsubishi Global Sales Decline 15%

January 31, 2017

Mitsubishi Motors Corporation (MMC) global sales volume during the cumulative three quarters in FY16 declined to 673,000 units, according to the company's third quarter financial statement. This is 15% lower than the same period of last year, but relatively in line with the revised plan released in October 2016.

Sales in Japan totaled 50,000 units, down by 24% year on year. The drop in sales in the first half coming from the overstated fuel economy issue did not recover fully. However, on a third quarter alone, sales rose by 1,000 units, compared to the same period of previous year. In North America, the sales of Mirage declined but Outlander contributed to the total sales, resulting in 101,000 units, in line as the previous year. In Europe, sales resulted in 132,000 units, down by 16% year on year. This is coming mainly from the sales drop in Russia with lower than expected economy and lower sales of Outlander PHEV in Netherlands.

In Asia, total sales resulted in 229,000 units, which is lower by 5% year on year. Sales declined in ASEAN, in particular Thailand, where performance was lower than previous year. The affect of the new Pajero Sport launch and the Thai Government’s tax incentives contributed more positively in the previous year. Sales in China is recovering gradually with the localization in production of the Outlander.

Sales in other regions was 161,000 units, down by 27% compared to the same period of last year as low commodity prices affected Middle East and Latin America.

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