Mitsubishi Performance Hits an All-Time Low
The automaker sold 139,000 vehicles globally during April-June, a 53% YoY decline. It projects an operating loss of $1.33 billion in FY21, the biggest in the past 18 years.
(Reuters)
Aman's key takeaways:
- Mitsubishi has bet its growth on the ASEAN region where it is stronger than the competitors. The automaker’s sales in this region fell 70% during the period, representing 17% (down from 25%) of its global sales.
- Since COVID-19 came to ASEAN later than other regions, it is likely that the recovery of Mitsubishi sales will be delayed.
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Jul 28, 2020
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