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Europe: MITSUBISHI MOTORS EUROPE CY 2011 RESULTS

MITSUBISHI MOTORS EUROPE CY 2011 RESULTS: 149,967 SALES (+7% INCREASE)

In spite of the many daunting challenges faced during the course of 2011, Mitsubishi Motors Europe (MME) managed a volume increase of 7% compared to CY 2010 with 149,967 sales vs. 140,311 sales the previous year.1

This positive result was achieved in spite of a much convoluted economic environment in the region, the end of scrappage incentives in markets such as France, the effect of austerity measures in Spain, Greece, Portugal or Ireland, as well as a very fluctuating customer confidence overall.

Further to severe economic circumstances for European customers, Mitsubishi Motors also had to bear the consequences of both very unfavourable exchange rates AND natural disasters in Asia – same as for all other Japanese manufacturers:
■Effect of flooding in Thailand over supply chain (L200): Whilst Mitsubishi Motors’ local production hub (MMTh) was not directly hit, parts supply was nonetheless affected which resulted in a one month production loss. The plan is for this shortfall in units to be recovered as much as possible by the end of the fiscal year (March 31st, 2012).
■Effect of earthquake in Japan over J-manufactured product supply chain (ASX, Lancer, Pajero/Montero/Shogun, i-MiEV, etc,…): there has been no direct damage to MMC’s production installations. However, power shortages and interruptions in the supply of certain variant-specific parts led to adjustments in production schedule, and temporary change in mix – away from those variants subject to shortage of certain parts. Volumes were recovered and production returned back to normal in October.
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