- A year after stabilizing its business in 2002, Mitsubishi Motors Corporation's (MMC) European unit, Mitsubishi Motors Europe (MME), has returned to growth in 2003, selling 207,939 cars in the 35 countries it pilots vs. 203,028 units in 2002. The 2.4 percent increase marked the first sales increase in Europe for Mitsubishi Motors since 1999.
Commenting on the performance, MMC President & CEO Rolf Eckrodt said: "Our European turnaround is on track. Not only did we grow in Europe in terms of volume, we also expect to be profitable for the first time in our history in the 2003 business year. But 2003 is only the start. We have to remain focused to turn last year's performance into healthy long-term development for Mitsubishi Motors."
The launch of its first new cars in three years prompted new business opportunities for Mitsubishi Motors, not only in pure terms of volume, but also through the refreshing face the Outlander crossover and the Lancer sports wagon created for the Mitsubishi Motors brand. The successful launch of the Outlander saw the car beat its sales target of 8,000 units by 29 percent finishing the year with 10,284 units sold. Additional volume was gained through the launch of the Lancer and Lancer Station Wagon, which together brought 8,117 units. Constant progression for the locally produced Carisma helped it grow 4.3 percent on year to 31,771 units. The L200 pickup-the company's second best seller and the pickup market leader in Europe-remained stable selling 41,097 units.
Russia once again proved its strong potential for Mitsubishi Motors. Now covering the full Russian territory-from the Polish border to the Pacific Ocean-the company more than doubled its volume in 2003 with 17,695 units, ranking second for Japanese brands and fifth out of all imported brands. Mitsubishi Motors continues to proceed steadily in Eastern Europe with a 34 percent jump in sales to 12,313 units. Other markets with a strong performance include the United Kingdom (+19.7%) and France (+6.7%).
The road ahead will see MMC's European operations build on this momentum with the upcoming launch of its 5-door New Colt compact car. Overall, Mitsubishi Motors will introduce 14 new models in Europe between 2003 and 2007. "2004 will be a milestone year for MME with further growth expected as our product offensive really takes off," said Stefan Jacoby, President and CEO of MME. "The launch of New Colt will be the most important ever for Mitsubishi Motors in Europe. We look forward to this new challenge, and the promise of volume, conquest and image it will bring."
