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Mitsubishi Motors Profits Rebound Big in FY17

Third leg of Alliance enjoys turnaround year.

by on May.11, 2018

The new Mitsubishi Eclipse Cross is helping to draw new buyers to the Japanese brand.

Once considered an also ran, Mitsubishi Motor Co has found new life on the heels of its alliance with Renault and Nissan.

Mitsubishi Motors reported net sales were up 15% year-on-year to 2.19 trillion yen, or $20.1 billion, for Fiscal Year 2017, ending March 31, 2018. Operating profit rose sharply to 98.2 billion yen, or $899.5 million, representing an operating margin of 4.5%, compared with an operating profit of 5.1 billion yen, or $45.8 million, in the same period of Fiscal Year 2016.

Industry News!

The company generated net income of 107.6 billion yen, $988.3 million, for the latest 12-month period, reversing a net loss of 198.5 billion yen, or $1.8 billion, in the prior fiscal year, the company reported. (more…)