Mitsubishi reports 4% growth for FY 2014, expects 1% growth in 2015

Mitsubishi reports 4% growth for FY 2014, expects 1% growth in 2015 image

Text: Anton Andres / Photos: Mitsubishi Press | posted May 13, 2015 06:14

MMC expects slower 2015 due to sluggish Japan, Europe sales

Mitsubishi Motors Corporation has announced its sales and financial results for the full 2014 fiscal year which ended on March 31, 2015. The company has also stated their forecasts for the 2015 fiscal year which will end on March 31, 2016.

MMC racked up net sales worth $18,154,044,009 over the full term for the 2014 fiscal year. The result is a 4% growth over the previous fiscal year and worth $726,761,151.

While sales were down in Japan by 20% (115,000 units), North American sales increased by 21% resulting in 117,000 units sold in that market. The sales were driven by the Outlander Sport (ASX) and the Mirage as well as the economic recovery of the United States. Sales were also up in Europe by 13%, totaling to 227,000 units while sales in other regions accounted for a 10% increase in units sold. Sales in Asia were relatively the same as the last fiscal year period.

For their sales forecasts, Mitsubishi expects their sales to be a lower in Japan by 7% and in Europe by 16% . Mitsubishi is also expecting sales to go up in North America by 9%, Asia by 10% and 3% in other regions such as the Middle East. All in all Mitsubishi is predicting a 1% growth over the 2014 fiscal year.

In the Philippines, Mitsubishi recorded a 16% growth year-on-year for 2014, getting an 18.6% share of the market with 50,085 units sold.