Mitsubishi announces record profit despite sluggish U.S. sales

Mitsubishi is finally on a comeback despite slow sales in the U.S. The company has reported a record full-year operating income for the fiscal year that ended March 31. Emerging markets in Europe, Asia and Latin America are helping Mitsubishi’s resurrection.

U.S. sales were flat at 124,000 units and what’s more is U.S. sales are expect to fall to 104,000 in the fiscal year ending March 31, 2009.

Mitsubishi now expects operating profit to fall to $521.7 million in the current fiscal year. However, in the year that just ended Mitsubishi enjoyed doubled global operating profit to a record $944.3 million

Mitsubishi said it will start exporting the Eclipse from its Illinois plant to the Middle East and China later this year and will also introduce the Lancer Evolution SST car  in North America in June. Mitsubishi will also launch a Lancer Sportback in early 2009.


Source: Automotive News (Subscription Required)

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