Can Mitsubishi Motors Stop Its Skid?

The carmaker's president gives himself one year for repairs

Katsuhiko Kawasoe is the third president in three years at Mitsubishi Motors Corp. Scandals at home and abroad dog his company. Customers are steering clear of Mitsubishi models in Japan, the U.S., and Southeast Asia. And on Mar. 10, Mitsubishi Motors estimated its loss this year would be the worst for any Japanese auto maker: $859 million for the year ending this March, on sales of $29 billion. So when Kawasoe paints a dark picture of the carmaker's future, he is not exaggerating one iota. "We need to change something drastically," Kawasoe proclaims from his office. "I need to make our company sound within a year."

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