Image: CarSales
Image: CarSales
AutoExec Summary
Mitsubishi is set to exit Europe, reduce its workforce, close unprofitable dealers, and halt production of the Pajero in a bid to cut costs by 20%. The Japanese car-maker reported its largest loss in 18 years, attributing it to the impact of the coronavirus and struggling sales in China and southeast Asia. The company plans to focus on growth in Asia, while aiming to increase operating profit to 50 billion yen ($A650m) by 2022/23. The iconic Pajero, introduced in 2006, will continue to be sold in Australia until at least 2021, known for its reliability, off-road capabilities, and towing strength.
Brands mentioned: Mitsubishi, Nissan, Renault, LandCruiser