TOKYO, July 30, 2015 - (ACN Newswire) - Mitsubishi Motors Corporation (MMC) today announced its sales and financial results for the first quarter of the 2015 fiscal year (1Q FY2015) ending March 31, 2016.
First quarter fiscal 2015 operating results
1. Performance overview
MMC posted consolidated net sales of 500.5 billion yen over 1Q FY2015 (April 1 through June 30, 2015), a 3% or 13.3 billion yen decrease over the same period last fiscal year.
MMC posted an operating income of 18.6 billion yen, a decrease of 40% or 12.4 billion yen over the same period last fiscal year. Decline in wholesales volume of minicars and the Outlander PHEV which is in its transition period for the model change negatively affected to volume and model mix resulting in the decrease.
MMC posted other items including an ordinary income of 24.1 billion yen, a 26% or 8.5 billion yen decrease, and a net income attributable to owners of the parent of 24 billion yen, a 15% or 4.2 billion yen decrease year-on-year.
2. Sales volume (Retail)
Global retail sales volume for 1Q FY2015 totaled 262,000 units, a 1% or 4,000-unit increase over the same period last fiscal year. Sales volumes by region were as follows:
Japan: Sales volume totaled 18,000 units for the term, a 35% or 9,000-unit decrease year-on-year. Sales of both minicar models and registered vehicles decreased over the same period last year.
North America: Sales volume amounted to 35,000 units for the term, a 25% or 7,000-unit increase year-on-year, driven by firm sales in the United States mainly of the Mirage compact model (Space Star in some markets).
Europe: Sales volume totaled 55,000 units, a 6% or 3,000-unit increase year-on-year. Despite sales volume dropped in Russia where economic situation worsened, the sales increase in Western Europe led by Germany and the U.K. which contributed to the overall increase for the region.
Asia: Sales volume came to 78,000 units, an 8% or 6,000-unit decrease year-on-year, due to economy in Thailand remained sluggish and speed of market growth declined since beginning of this fiscal year in China.
Other Regions: Sales volume totaled 76,000 units, a 14% or 9,000 unit year-on-year increase, where sales mainly increased in the Middle East and Africa over the same period last year.
2. Fiscal 2015 forecasts
Mitsubishi Motors Corporation has decided to leave its consolidated forecasts announced on April 24, 2015 unchanged for both the first half of FY2015 as well as for the full-year of FY2015.
About Mitsubishi Motors
Mitsubishi Motors Corporation is the fifth largest automaker in Japan and the fifteenth largest in the world by global unit sales. It is part of the Mitsubishi keiretsu, formerly the biggest industrial group in Japan, and was formed in 1970 from the automotive division of Mitsubishi Heavy Industries.
Throughout its history it has courted alliances with foreign partners, a strategy pioneered by their first president Tomio Kubo to encourage expansion, and continued by his successors. A significant stake was sold to Chrysler Corporation in 1971 which it held for 22 years, while DaimlerChrysler was a controlling shareholder between 2000 and 2005. Long term joint manufacturing and technology licencing deals with the Hyundai Motor Company in South Korea and Proton in Malaysia were also forged, while in Europe the company co-owned the largest automobile manufacturing plant in the Netherlands with Volvo for ten years in the 1990s, before taking sole ownership in 2001.
Source: Mitsubishi Motors
Contact:
Public Relations Department http://www.mitsubishi-motors.com +81-3-6852-4275
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