TOKYO, July 25, 2018 - (JCN Newswire) - Mitsubishi Motors Corporation (MMC) today announced first-quarter financial results for Fiscal Year 2018 ended March 31, 2019 (1Q/FY2018).
1Q/FY2018 Financial Results Highlights
Mitsubishi Motors reported net sales for 1Q/FY2018, up 27.0% year-on-year to 560.0 billion yen. Operating profit rose from 20.6 billion yen in the same period of FY2017 to 28.1 billion yen (up 36.4% year-on-year), representing an operating margin of 5.0%. The company generated net income of 28.2 billion yen (up 22.6% year-on-year) for the latest 3-month period.
Global Sales Performance
Global sales volume for 1Q/FY2018 increased 21% year-on-year to 292,000 units.
ASEAN sales increased by 28% to 69,000 units, driven by orders for pick-up trucks in Thailand and the strong performance of the new XPANDER MPV launched in Indonesia last fall.
In China, sales rose 50% year-on-year to 36,000 units due to strong demand for the localized Outlander.
Sales in North America increased by 25% year-on-year to 45,000 units. The growth was driven by solid demand for the Outlander PHEV and Eclipse Cross, which were launched in the latter half of 2017.
MMC forecasts for FY2018 are as shown below. There is no change from what was disclosed to Tokyo Stock Exchange in May 2018.
"In the second year of the current Mid-Term Plan, we have made a good start in line with our goals for both volume and profitability. We will be relentless in achieving our target while making necessary investments for the future growth," said Osamu Masuko, chief executive officer of Mitsubishi Motors.
About Mitsubishi Motors
Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid electric vehicles. Since the Mitsubishi group produced its first car more than a century ago, we have demonstrated an ambitious and often disruptive approach, developing new vehicle genres and pioneering cutting-edge technologies. Deeply rooted in Mitsubishi Motors' DNA, our brand strategy will appeal to ambitious drivers, willing to challenge conventional wisdom and ready to embrace change. Consistent with this mindset, Mitsubishi Motors introduced its new brand strategy in 2017, expressed in its "Drive your Ambition" tagline - a combination of personal drive and forward attitude, and a reflection of the constant dialogue between the brand and its customers. Today Mitsubishi Motors is committed to continuous investment in innovative new technologies, attractive design and product development, bringing exciting and authentic new vehicles to customers around the world.
Public Relations Department
July 25, 2018 10:07 HKT/SGT
Source: Mitsubishi Motors
Topic: Press release summary
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