Mitsubishi Motors Corporation Announces Fiscal 2013 First Quarte

Mitsubishi Motors Corporation Announces Fiscal 2013 First Quarter Operating
Tokyo, July 30, 2013 - (JCN Newswire) -  Mitsubishi Motors Corporation (MMC)
today announced its sales and financial results for the first quarter of the
2013 fiscal year (FY) ending March 31, 2014. 
1. Performance overview 
MMC posted a consolidated net sales of 409.4 billion yen for the first quarter
of fiscal year 2013 (April 1, 2013 through June 30, 2013), a 2% or 9.9 billion
yen decrease over the first quarter of fiscal 2012, showing a decrease in
wholesale volume. 
MMC posted an operating income of 16.0 billion yen, a 7% or 1.1 billion yen
increase over the same period last fiscal year. The increase was due mainly to
favorable exchange rates as well as reductions in material and other costs
which together overcame such negative factors as decreases in wholesale volume
and increases in sales expenses including advertising costs. 
Along with the increased non-operating income from factors including foreign
exchange gains MMC posted an ordinary income of 22.3 billion yen, a 57% or 8.1
billion yen increase year-on-year. Net income for the term amounted to 16.4
billion yen, an 18% or 3.6 billion yen decrease year-on-year without the
benefit of a 11.4 billion yen in extraordinary income from the sale of stock in
affiliates like what was recorded in the first quarter of last fiscal year. 
2. Sales volume (Retail) 
Global retail sales volume for the first quarter of fiscal year 2013 totaled
249,000 units, a 4% or 10,000-unit increase over the same period last fiscal
year. Sales volumes by region were as follows: 
Japan: Sales volume totaled 28,000 units for the quarter, a 6% or 2,000-unit
decrease year-on-year. Despite a strong start by the June-released all-new eK
Wagon and eK Custom minicars, sales of other models lagged; contributing to the
North America: Sales volume amounted to 23,000 units. Although sales of the
Outlander Sport (RVR or ASX in some markets) in the United States (locally
produced since July 2012) increased over the same period last year, sales
volume in the United States was affected by last year's production
termination and subsequent drop in sales of the Galant. However year-on-year
sales volume increases in Canada and Mexico offset this to bring the
region's overall sales volume on par with the same period last year. 
Europe: Sales volume totaled 47,000 units, a 1% or 1,000-unit increase
year-on-year. Despite a decrease in total automobile demand in western Europe,
year-on-year sales were boosted by the introduction of the all-new Outlander
and Space Star/Mirage models, contributing to the overall year-on-year increase
in the region. In addition, sales for the quarter in areas outside of western
Europe remained on par with the same period last fiscal year. 
Asia & Other Regions: Sales volume came to 151,000 units, a 9% or
11,000-unit increase year-on-year. In Thailand, the government's
"first-car buyer" program came to an end at the end of last year,
negatively affecting sales in the country and contributing to an overall
year-on-year decrease for the ASEAN region. On the other hand all other areas
outside of ASEAN (North Asia, Australia & New Zealand, Latin America, the
Middle East & Africa) achieved year-on-year increases which contributed to
the overall increase for the region. 
3. Fiscal 2013 forecasts 
As first quarter FY2013 results went mostly according to plan, MMC has decided
to keep its consolidated forecasts announced on April 25, 2013 unchanged for
both the first half of FY2013 (April 1, 2013 through September 30, 2013) as
well as for the full year of FY2013 (April 1, 2013 through March 31, 2014). 
About Mitsubishi Motors 
Mitsubishi Motors Corporation (TSE: 7211) was established in 1970 and is one
of the few automobile companies in the world that produces a full line of
automotive products ranging from 660-cc mini cars and passenger cars to
commercial vehicles and heavy-duty trucks and buses. The company also operates
consumer financing services and provides this to its customer base. For more
information, please visit 
Mitsubishi Motors
Public Relations Department
Copyright 2013 JCN Newswire. All rights reserved. 
Provider ID: 00027155
Press spacebar to pause and continue. Press esc to stop.