Mitsubishi Motors Announces Production, Sales and Export Figures for March 2009 and for the 2008 Fiscal Year
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TOKYO, JAPAN April 23, 2009: Mitsubishi Motors Corporation today announced global production, as well as domestic sales and export figures for March 2009 and for the 2008 fiscal year.
March 2009
Total global production came in at 58,895 units, a decline of 57.3 percent over March 2008 and the thirteenth consecutive monthly decrease since March 2008. Production volume in Japan at 35,304 units was down 62.3 percent as a 65.3 percent decrease in passenger car (29,212 units) and a 35.3 percent decline in commercial vehicle (6,092 units) output saw year-on-year output fall for the fifth consecutive month. The fall in production volume in Japan was, as in the previous four months, due mainly to the impact of the global financial crisis on sales volume in the company's world markets.
Vehicle sales in Japan in March totaled 22,926 units, a 29.1 percent decrease year-on-year and the 19th consecutive monthly decline since September 2007. Registered vehicle sales volume at 7,592 units was 36.8 percent down on the same month last year. Minicar sales volume at 15,334 units was 24.5 percent down.
Overseas production volume totaled 23,591 units, 46.8 percent down over March last year and the thirteenth consecutive monthly decline. By region, output in North America was 100 percent down as all production has been halted due to very slow sales in the United States. In Europe, output was 39.3 percent down as production at NedCar was tailored to sluggish sales in the region.
Total exports from Japan of 17,227 units were 77.0 percent down on March 2008, marking the fifth consecutive month of year-on-year decreases. Exports to Asia at 2,074 units were 57.3 percent down on March 2008 due mainly to a slump in demand in the region overall and despite minor increases in shipments to China and Malaysia. Exports to Europe at 6,784 units were 81.9 percent down due mainly to a slump in demand in the region overall and despite a slight increase in shipments to Russia. Exports to North America at 992 units were 86.7 percent down.
2008 fiscal year (April '08 - March '09)
Total global production in fiscal 2008 came in at 1,076,334 units, down 24.8 percent over fiscal 2007 and the first decrease in volume in two years. Production volume in Japan at 669,694 units was down 23.5 percent, the first time in four years that output failed to grow over the previous fiscal year. While output in Japan was up year-on-year in the first few months of fiscal 2008, the impact of the global financial crisis on the world economy forced production levels down as sales volume in the company's markets started to drop in the autumn. As a result output for the full fiscal year dropped below that of the previous year.
Vehicle sales in Japan in fiscal 2008 totaled 168,046 units, 23.1 percent down over fiscal 2007. Passenger car (registrations and mini-car) sales of 126,053 units and commercial vehicle sales of 41,993 units were 23.2 percent and 23.1 percent down respectively on last year. Total mini-car sales were 15.7 percent down for the year though sales of the Pajero Mini were 24.6 percent up.
Overseas production volume in fiscal 2008 totaled 406,640 units, 26.8 percent down over last year and the first yearly decline since fiscal 2006. By region, output in Asia at 275,867 units was 23.0 percent down, in North America at 43,887 units was 41.9 percent down and in Europe at 47,320 units was 30.9 percent down as production levels were adjusted to meet the slump in demand.
Total exports from Japan in fiscal 2008 of 463,091 units were 24.6 percent down on the previous year, the first year-on-year decrease since fiscal 2004. By region, exports to Asia of 33,421 units were 22.2 percent down due mainly to a sharp drop in shipments to China and despite small increases to Malaysia and The Philippines. Exports to North America of 48,349 units were 19.3 percent down as an increase in shipments to Canada failed to counterbalance the drop in shipments to the United States. Exports to Europe of 194,738 units were 24.3 percent down with only The Ukraine returning an increase over the previous year while shipments to all other markets in the region dropped significantly.