Mitsubishi Motors profit forecast down 76% due to sluggish sales, high costs

Japanese carmaker waiting to see about joining Honda-Nissan merger talks

Mitsubishi Motors has dropped its global sales target for the year ending in March by 5% to 848,000 units from 895,000 previously. (Photo by Yuki Nakao)

SAYUMI TAKE and YUICHI SHIGA

February 3, 2025 21:23 JST

TOKYO -- Mitsubishi Motors on Monday dropped its annual net profit forecast to 35 billion yen ($225 million) for the financial year ending in March 2025 -- 76% lower than its 144 billion yen forecast last May.

The revision reflects underperformance in wholesale sales as well as higher-than-expected expenses in marketing costs in competitive markets like North America and in supporting suppliers impacted by inflation.