Mitsubishi Motors increases production in March ( joel)

By Automotive Staff | February 25, 2009
Apparently there is a glimmer of hope in this recession and low car sales. Case in point: Mitsubishi. Per Detroit News: TOKYO -- Mitsubishi Motors Corp. said Tuesday it planned to increase production March from February after its inventories had fallen to the appropriate levels, but plans were undecided for the months ahead given the industry turmoil. All of Japan's automakers have been seriously hit by the global downturn set off by the U.S. financial crisis. They have reduced thousands of jobs and stopped some assembly lines. Tokyo-based Mitsubishi -- which is forecasting a 60 billion yen ($670 million) loss for the fiscal year through March, its first red ink in three years -- is reducing its production for the fiscal year by 330,000 vehicles from its initial plan. It does not disclose an overall global vehicle target. Speculation has been growing that Japanese automakers will start lifting production in April or May.