Mitsubishi Motors forecasts 140 billion yen full-year loss due to falling car sales
- 27th July 2020
- Posted by: Hakeem
- Category: Business plans
TOKYO (Reuters) – Japan’s Mitsubishi Motors Corp (7211.T) on Monday forecast an operating loss of 140 billion yen ($1.33 billion) in the year to March as the automaker continues to struggle from a fall in demand for cars due in part to the coronavirus pandemic.
Japan’s No. 6 automaker also said that, as part of its restructuring plan, it would stop producing its Pajero SUV crossover model in the first half of 2021, and close the plant in central Japan which makes the vehicle.
Mitsubishi reported a 53.3 billion yen operating loss in the first quarter, after vehicle sales more than halved between April and June from the previous year.