Mitsubishi Motors Launches Minivan In Shift To Growth

TOKYO May 14, 2003; Dow Jones reports that Mitsubishi Motors Corp. said Wednesday it will launch its remodeled "Grandis" minivan in Japan on May 17 in a continued bid to shift its focus to sales-led growth from years of cost-cuts.

The fourth-largest Japanese carmaker has a monthly sales target of 3,000 units of the minivan in the domestic market.

The automaker, 34% owned by DaimlerChrysler AG , also plans to market the new minivan globally, Mitsubishi Motors' President and Chief Executive Rolf Eckrodt said at the launch of the Grandis.

"This car will go global. We are planning to launch it in Europe, China, and other countries," he said.

Eckrodt said he will discuss the company's earnings outlook and operational plans in Japan and overseas on May 26, when it will announce results for the fiscal year ended March 31.