Mitsubishi May Break Even This Year in North America, Exec Says

By | November 23, 2013
Mitsubishi has been struggling for some time in North America, suffering from a limited product lineup and slow sales. But according to Mitsubishi President Osamu Masuko, the automaker is hoping to end its losses by the close of this year. Mitsubishi currently has just one small factory in North America, a manufacturing facility that builds the Outlander Sport utility vehicle. Capacity at this plant has shrunk to just 70,000 units a year, a fraction of what competitors Honda and Toyota make in the region. According to a report from Automotive News, Mitsubishi is looking into ramping up exports from its North American facility to give the company a much-needed boost. If overseas demand increases, Masuko told the publication, the factory can produce 100,000 units annually at the plant. Currently, Mitsubishi makes just over 56,000 Outlander Sport vehicles in North America for other markets including Russia, the Middle East, and Latin America. Exports have been increasing this year, giving the company a bit of a lift. But for a company that is looking for a North American revival, is focusing on exports really the answer? Luckily the automaker has other tricks up its sleeve. It plans on increasing advertisement and introducing new products in North America, including a Mirage subcompact and a plug-in hybrid version of the Outlander Sport. More favorable exchange rates between the yen and the dollar should also help Mitsubishi in its quest to increase its relevancy. Source: Automotive News