Mitsubishi Motors Corporation today announced its full-year sales and financial results for the 2009 fiscal year ending March 31, 2010, together with forecasts for the 2010 fiscal year ending March 31, 2011.

Fiscal year 2009 full-year results
1. Fiscal 2009 Overview

The decline in demand for new cars following the global recession from the second half of fiscal 2008 started showing signs of recovery in the second half of fiscal 2009 with help of economic stimulatory measures introduced by national governments.

However, Mitsubishi Motors’ consolidated net sales for fiscal 2009 totaled 1 trillion 445.6 billion yen, a 27 percent decrease of 528.0 billion yen over the previous fiscal year. Factors behind the drop in net sales include a significant fall in sales volume, particularly in the first half of fiscal 2009, and effects from the appreciation of the yen against other currencies.

Mitsubishi Motors posted an operating profit of 13.9 billion yen, 10.0 billion yen up over the previous fiscal year. Despite the impact of a decline in net sales, the appreciation in the value of the yen and other negative factors, the company managed to increase its operating profit through concerted efforts throughout the company to reduce costs and expenses.

Mitsubishi Motors posted an ordinary profit of 13.0 billion yen, 27.9 billion yen up on the previous fiscal year, and a net profit of 4.8 billion yen, 59.7 billion yen up on last year, thereby achieving its target announced at the start of the fiscal year of returning to net profitability for the full fiscal year.

2. Sales Volume

Global retail sales volume in fiscal year 2009 totaled 960,000 vehicles, a 10 percent decrease of 106,000 units on fiscal 2008.

In Japan Mitsubishi Motors sold 171,000 vehicles in fiscal year 2009, a 1 percent increase of 3,000 units year-on-year. Factors contributing to this rise in sales volume include eco-car tax reductions and subsidies that helped to push up demand over the full fiscal year, and the February launch of the all-new RVR compact crossover.

In North America the company sold 88,000 vehicles, a 26 percent decrease of 31,000 units over the last fiscal year. A year-on-year increase in sales in Canada failed to offset slower sales in the United States and Mexico.

In Europe Mitsubishi Motors sold 169,000 vehicles, a 38 percent decrease of 103,000 units over fiscal year 2008. The lag in recovery for the region as a whole was particularly marked in Russia and the Ukraine.

In Asia and Other Regions Mitsubishi Motors sold 532,000 vehicles, a 5 percent increase of 25,000 units over the previous fiscal year. A 64 percent year-on-year increase in unit sales in China together with significant increases in sales volume in other markets in the region including Taiwan, Thailand and the Philippines more than offset the drop in sales volume in Latin American and Middle Eastern countries.

Source: http://media.mitsubishicars.com/releases/64281d70-fc48-51a9-d34f-e0534bd73972

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