ENZHMS
Link Copiedcheck_circle
International

Mitsubishi Motors Slashes 2024 Profit Forecast By A Whopping 76%

Thoriq Azmi

5-2-2025

Share via

web_TA_CariCarz_Mitsubishi-Triton-Launch_-4.jpg

In its third quarter results presentation, Mitsubishi Motors revised its net profit for the fiscal year ending March 2025, lowering it by 76%. 


In its third-quarter financial results presentation held recently, Mitsubishi Motors elected to adjust its nett profit forecast for the financial year ending March 2025 to ¥35 billion (approx. RM1.001 billion). This marks a massive reduction of 76% from its previous forecast issued on May 2024.

The revision stems from lackluster sales in the wholesale sector, marketing expenses in North America, and increasing supplier costs due to inflation, reports Nikkei Asia. Concurrently, the tri-diamond marque adjusted its sales target to just 848,000 units from its initial 896,000 units figure.

It is worth noting still that the revised sales target stands higher than the 815,000 units the marque shifted in the previous year. Critically though, much of the marque’s losses comes from its largest market region – Southeast Asia (ASEAN).


mitsubishi-sales-volume-forcast-fy2024.jpg

The revision stems from lackluster sales, inflation-borne supplier cost hikes, and marketing expenses in North America, and this also prompted the firm to lower its sales target to just 848,000 units.


Specifically, Mitsubishi acknowledged that it is struggling in both Thailand and Indonesia – massive markets where the marque proved successful during the pre-pandemic years. “There was a demand of one million vehicles annually in Thailand in the past,” notes CEO Takao Kato.

The exec continued and said, "It has not recovered significantly after the COVID-19 pandemic, decreasing even more rapidly in the financial years of 2023 and 2024 due to the high level of household debt." He also acknowledged Thailand’s unfavourable exchange rates as a factor.

Moreover, the situation in its Thailand operations also prompted Mitsubishi to restructure its offices in the region, which included the early retirement of 300 employees. Despite so, Kato remained optimistic and noted some of the key strengths Mitsubishi still holds.


Caricarz-MBA-2024MitsubishiTriton-Athlete-MediaDrive-14.jpgCaricarz-MBA-2024MitsubishiTriton-Athlete-MediaDrive-2.jpg
Mitsubishi remains optimistic as it reckons one of its key strengths lie in its product range that's focused on pick-up trucks - the firm's latest third-gen Triton model pictured.

Nissan-Honda-Mitsubishi-JV-5.jpg
CEO Takao Kato also dismissed reported rumours saying Mitsubishi was "not keen" on the impending Nissan-Honda merger.


"Our strengths are in plug-in hybrids, [Asia-Pacific] market presence, and a product line-up focused on pick-up trucks. We are looking at how these could be utilised and what kind of support we can expect in the North American market and developing auto intelligence – both of which we are not so strong in," adds Kato further.

On the subject of the Japanese marque’s possible involvement in the impending Nissan-Honda merger, Kato also took the opportunity to dismiss reported rumours that the tri-diamond marque was “not keen” in participating.

Instead, the exec says it’s unlikely that Mitsubishi “will not be involved at all.” Kato also adds that the firm will wait and see how the merger plays out before making any decision about how and when to get involved.


Mitsubishi-XForce-SUV-1.jpg



Share This Article

Written By

Thoriq Azmi

Former DJ turned driver, rider and story-teller. I drive, I ride, and I string words together about it all. [#FuelledByThoriq] IG: https://www.instagram.com/fuelledbythoriq/

Share via

JPJ Running Numbers

KUALA LUMPUR

VPB6823

SELANGOR

BSE3819

JOHOR

JXW3362

PULAU PINANG

PRQ2639

PERAK

ANV2504

PAHANG

CFB6374

KEDAH

KGA3928

NEGERI SEMBILAN

NEF6675

KOTA KINABALU

SJK6701

KUCHING

QAB2775L

Last updated 30 Apr, 2025

Fuel Price

Petrol

RON 95

RM 2.05

RON 97

RM 3.18

RON 100

RM 5.00

VPR

RM 6.23

Diesel

EURO 5 B10

RM 2.88

EURO 5 B7

RM 3.08

Last updated 24 Apr, 2025

Related News

International
Report: Mitsubishi “Not Keen” To Join Nissan-Honda Merger Yet

Report: Mitsubishi “Not Keen” To Join Nissan-Honda Merger Yet

Mitsubishi reportedly “not keen” to join Nissan-Honda merger for now as it plans to maintain current form and leverage the ASEAN market.

24-01-2025
International
Mitsubishi Heads to TAS 2025 with Three Custom-Built Triton Pick-Ups

Mitsubishi Heads to TAS 2025 with Three Custom-Built Triton Pick-Ups

Mitsubishi heads to the Tokyo Auto Salon 2025 with a trio of customised Triton pick-up trucks and an SUV concept.

08-01-2025
Auto News
Facelifted Mitsubishi Xpander Spotted in Malaysia – Launch Imminent?

Facelifted Mitsubishi Xpander Spotted in Malaysia – Launch Imminent?

The long-awaited Mitsubishi Xpander MPV facelift has been spotted in Malaysia. Launching soon?

21-08-2024
International
2024 Mitsubishi Triton Garners 5-Star ANCAP Crash Test Score

2024 Mitsubishi Triton Garners 5-Star ANCAP Crash Test Score

Latest-generation Mitsubishi Triton pick-up truck bags 5-star score from stringent new ANCAP crash testing regime.

12-04-2024
International
New Mitsubishi Xpander HEV And Xpander Cross HEV Set For Thailand Debut On Feb 1

New Mitsubishi Xpander HEV And Xpander Cross HEV Set For Thailand Debut On Feb 1

New and electrified Mitsubishi Xpander HEV and Xpander Cross HEV set to debut in Thailand on Feb 1.

26-01-2024
EV
Mitsubishi Begins The Production Of Minicab EV In Indonesia

Mitsubishi Begins The Production Of Minicab EV In Indonesia

Mitsubishi Minicab EV CKD production begins in Indonesia at PT Mitsubishi Motors Krama Yudha Indonesia (MMKI).

19-12-2023
EV
Mitsubishi Teases New Concept Vehicle, An Electric Crossover MPV

Mitsubishi Teases New Concept Vehicle, An Electric Crossover MPV

Hear ye, hear ye! Mitsubishi Motors plans to show off a new electrified concept vehicle, happening at the Japan Mobility Show 2023, this October 26.

16-10-2023
International
Mitsubishi Motors Will Cease Production In China Amid Sales Slump

Mitsubishi Motors Will Cease Production In China Amid Sales Slump

Mitsubishi Motors Corp. is considering withdrawing from car production in China.

29-09-2023

Latest News

International
New Aston Martin DBX S Gets Lighter and Faster Than the 707

New Aston Martin DBX S Gets Lighter and Faster Than the 707

The Aston Martin DBX super-SUV gains a new flagship S variant, featuring up to 717 HP and weighing 47 KG less.

30-04-2025
International
Trump Administration Offers Relief On Auto Tariffs

Trump Administration Offers Relief On Auto Tariffs

Donald Trump signs an order that will exempt domestic auto makers from certain aspects of his massive tariff plan.

30-04-2025
International
Ferrari 296 Speciale Unveiled as an 868 HP-Rated Super-PHEV

Ferrari 296 Speciale Unveiled as an 868 HP-Rated Super-PHEV

The Ferrari 296 gains two new Speciale variants, featuring tons of carbon fibre parts and up to 868 HP of power.

30-04-2025
International
Auto Shanghai 2025: Nissan Frontier Pro Debuts as Brand’s First PHEV

Auto Shanghai 2025: Nissan Frontier Pro Debuts as Brand’s First PHEV

Silently making its global debut at Auto Shanghai 2025 is the new Nissan Frontier Pro—the brand’s first PHEV model.

29-04-2025
International
Chery Tiggo 4 HEV Detailed – 1.5L CSH with Up to 1,000 KM of Range

Chery Tiggo 4 HEV Detailed – 1.5L CSH with Up to 1,000 KM of Range

We took a closer look at the Chery Tiggo 4 HEV, one of the Chery Super Hybrid models tipped to debut in Malaysia soon…

29-04-2025
International
Porsche Considers Quitting EVs in China

Porsche Considers Quitting EVs in China

Porsche may stop producing EVs in China as it struggles with the country's EV market.

29-04-2025
International
New Chery Omoda C3 Revealed As Global Small Car Offering

New Chery Omoda C3 Revealed As Global Small Car Offering

New Chery Omoda C3 previewed globally in Wuhu, China, and it’s aimed at competing in the global small-segment market.

28-04-2025
International
Chery Himla Pick-Up Truck ICE Variants Detailed – Petrol & Diesel Available

Chery Himla Pick-Up Truck ICE Variants Detailed – Petrol & Diesel Available

We’ve been given new details regarding the powertrain specs for the ICE variants of the Chery Himla pick-up truck.

26-04-2025

Show More

trending_flat
Carz Automedia Malaysia Logo
About Us

CarzAutoMedia: Stay connected to the latest car news! Get instant updates on new releases, industry trends, and automotive innovations. Your go-to source for 24/7 coverage of everything automotive.

© 2024 CariCarz.com. All Rights Reserved.