Mitsubishi suspends deliveries of new products to Europe

Mitsubishi suspends deliveries of new products to Europe

July 28, 2020 0 By autotimesnews

The Japanese company Mitsubishi Motors has decided to freeze the introduction of its own new products in Europe. This information was shared by the corporation’s press center.

At the same time, the Japanese company noted that the previously presented cars will continue to be sold and serviced.

In turn, Mitsubishi Motors’ net loss for the first quarter of fiscal year 2020 (April 1 – June 30) amounted to 176 billion yen (1.6 billion dollars). As noted by the Kyodo portal, the corporation suffered losses due to the fact that the volume of sales decreased due to the coronavirus.

The Japanese company, in particular, released a forecast, from which it follows that the volume of operating losses of the automaker in the current financial year (ending March 31, 2021) will reach 140 billion yen (approximately $ 1.3 billion). At the same time, the shareholders of the Japanese concern will incur losses in the amount of 360 billion yen (about 3.4 billion dollars) over the same period.

In addition, it was recently noted that Mitsubishi continues to test a new generation of Outlander crossover. The crossover can be built on the same architecture as the restyled Nissan X-Trail. The Outlander will debut before the end of this year.