TOKYO: Mitsubishi Motors Corp forecast on Thursday a 19 percent fall in operating profit this year as it reins in aggressive growth amid slowing global car demand and charts a new course after the ouster of former chairman Carlos Ghosn.
It expects global sales to rise 4.9 percent to 1.31 million vehicles in the current year, slowing from the 13 percent growth seen in the year ended March as it sees sales growth slowing in Southeast Asia, a key market which has more than doubled in the past decade. "We need to drastically revise our strategy even if we experience a temporary stall in performance," Masuko told reporters at a briefing."It's not realistic to adopt a strategy based only on expansion. We need to prioritize healthy growth."
Mitsubishi is contending with slowing demand for cars, ongoing global trade frictions and the need to develop new technologies just as it and its partners Nissan and France's Renault SA grapple with the fallout from the arrest of Ghosn, the group's former chairman who is facing charges of financial misconduct in Japan.
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