Mitsubishi Motors Corp. seeks to top its profitability target by ending its losses in Japan and North America, remarked President Osamu Masuko. Mitsubishi intends to strengthen local sales operations and launch new plug-in models in North America to exceed the 5.2 percent operating profit margin forecast in its midterm business plan that ends March 2017.
Masuko remarked that the current target “is too small,” and the carmaker wants to “aim for a higher level.” The Japanese carmaker, which is aiming to end its operating losses in North America and in Japan, is planning to roll out plug-in versions of its RVR and Pajero SUVs around 2016.
It also expects electric and plug-in hybrid electric vehicles to account for around 20 percent of output by 2020, Masuko remarked.
The carmaker rolled out a plug-in Outlander sport utility vehicle in 2013. Mitsubishi is eyeing to post sales of 1.43 million vehicles in the final year of its midterm plan.
For the year ending March 2014, the Japanese carmaker expects deliveries of 1.11 million vehicles, boosted by higher sales of SUVs and pickup trucks. Mitsubishi expects to post JPY100 billion ($975.9 million) in net income in the year ending March 31, 2014.