TOKYO - Mitsubishi Motors Corp. predicted this would be a lousy sales year overseas and in Japan. The pessimistic forecast is proving true.
The drop in its sales in the April to June quarter was in line with the company's forecast, says Osamu Masuko, Mitsubishi managing director in charge of overseas operations.
Sales were below expectations in North America, Europe and Japan. Sales were better than expected in China, Russia, Brazil, Malaysia, Indonesia and the Middle East.
Mitsubishi sales in all markets outside Japan were 289,207 in the quarter, down 5 percent from a year earlier. But that was 2 percent ahead of the target in the company's revitalization plan. Despite the steep fall, the U.S. total was only 10 percent below Mitsubishi's target for the quarter. Through July, Mitsubishi's U.S. sales are down 30.1 percent from 2003.
In Europe, Mitsubishi sales rose 9 percent from the year-earlier quarter, thanks to gains in Russia, the United Kingdom and France.
Mitsubishi forecasts sales of 233,000 in North America in the fiscal year starting April 1. That is down 55,000 from a year earlier.