March 2005 results

Total global production was 130,602 units, a decline of 11.4 percent from March 2004. Domestically, 60,713 units were produced in the month, 22.8 percent less than the same period last year.

Sales in Japan were 43,974 units, 73.6 percent compared to the previous year. Although total sales for passenger cars were 29,786 units, 67.1 percent of last year's volume, total commercial vehicle sales remained relatively stable, reaching 14,188 units, or 92.1 percent year-on-year.

Overseas production for the month slightly increased to 69,889 units, or 101.6 percent of the amount manufactured last year. European production boosted to 7,057 units, a 22 percent increase from the previous year. Production in Asia also grew to 52,264 units, or 111.4 percent of last year's figure for March. Production in North America fell 27.3 percent to 7,877 units.

Total exports from Japan retreated by 19.7 percent to 27,432 units. Exports to Europe resulted in 10,087 units, a year-on-year decrease of 9.7 percent. Exports to Asia were down by 55.3 percent, for a total of 2,739 units, while exports to North America declined to 2,455 units, or 47.4 percent compared to the year before.

Fiscal year 2004 results

Global production during fiscal 2004 totaled 1,366,519 units, an 11.1 percent reduction, as substantial growth in Asia and Europe was offset by declines in North America and Japan. Domestically, market share for the year was 3.9 percent.

Total domestic production was 599,219 units, 20.3 percent less than in fiscal 2003. Although production in commercial vehicles remained stable at 92 percent when compared to the previous year, passenger car production declined by 22.5 percent.

Exports to Europe remained solid with 106,543 units shipped during the fiscal year, or 99.2 percent compared to the previous fiscal year. This was driven by strong sales in Russia, the U.K. and Germany. In Russia, Mitsubishi Motors moved up to 1st place for overall quarterly import sales (excluding locally produced vehicles) in the last quarter of fiscal 2004. Sales in Germany significantly picked up during the second half led by the new European Colt, which was awarded the prestigious Golden Steering Wheel award in November 2004. Production jumped by 37 percent to 103,101 units, lead by manufacturing of the Colt, which hit the market in May 2004.

Production in Asia remained strong with 518,888 units produced, or an increase of 3.5 percent. This was particularly highlighted by a 26 percent rise in production in Thailand, driven by expanded exports of Thai-produced vehicles to Europe. Exports to Asia were 99.1 percent compared to last year for a total of 56,131 units.

In North America, the local factory in Illinois trimmed production levels from two shifts to one shift during fiscal 2004 after it became necessary to reduce output in order match efforts to reduce fleet sales and to adjust inventory levels. Production for fiscal 2004 was 98,642 units or 37.1 percent off last year. These market measures to normalize sales also resulted in fewer exports to North America, which stood at 44,388 units, or 51.1 percent year-on-year.