Mitsubishi Looking to Return to 100,000 Annual Sales in U.S.
DETROIT – Mitsubishi Motors North America is setting its sights on a return to 100,000-unit sales in a calendar year, after suffering a severe drop in volume in recent years, a top executive says.
“I’d say (we’ll hit the mark) probably within three years,” John Koenig, executive vice president-MMNA, tells Ward’s during his recent visit here.
Quote from the article:
Source: Mitsubishi Looking to Return to 100,000 Annual Sales in U.S.
“I’d say (we’ll hit the mark) probably within three years,” John Koenig, executive vice president-MMNA, tells Ward’s during his recent visit here.
Quote from the article:
| Mitsubishi sold 53,986 vehicles in the U.S. last year, 44.5% below 97,257 in 2008, Ward’s data shows. Volume in 2008 fell 24.6% from 2007, which was the last year the auto maker exceeded 100,000 units, with 128,993 deliveries, for an 8.8% gain on 2006. Mitsubishi’s U.S. volume was 345,111 as recently as 2002, but sales quickly tumbled due to fallout from a 0% financing scheme concocted by former MMNA CEO Pierre Gagnon. Many of the subprime takers of the offer defaulted on their loans. Koenig blames much of Mitsubishi’s 2009 loss, one of the U.S. industry’s worst years, on a sharp reduction in the number of vehicles sold to daily rental companies, primarily made up of Galants and some Lancers. While the auto maker intends to continue fleet sales, it will do so in “a very small way,” he says. Instead, Mitsubishi is focusing on building retail sales, which Koenig and other executives know is not easy for a low-profile brand that has found itself at death’s door, both here and in Japan, in recent years. |
Source: Mitsubishi Looking to Return to 100,000 Annual Sales in U.S.
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