Mitsubishi posts first profit since 2004!
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Mitsubishi posts first profit since 2004!
Seems like things are looking up for Mitsubishi. I read an article in the Wall Street Journal today which stated that 
is reporting earnings of 4.3 billion Yen (~US $36 million) for its fiscal 3rd quarter (i.e., Q4 of the calendar year). First time since 2004 that they've reported a profit.
This at the same time that Daimler is looking to dump Chrysler. Guess they should have stuck with ... 
Let's hope that the Lancer does well and that the Evo X can live up to the hype. Oh yeah, and if we're really lucky, maybe they'll throw in an AWD, 4B11T Outlander as well.
l8r)
is reporting earnings of 4.3 billion Yen (~US $36 million) for its fiscal 3rd quarter (i.e., Q4 of the calendar year). First time since 2004 that they've reported a profit.This at the same time that Daimler is looking to dump Chrysler. Guess they should have stuck with
... Let's hope that the Lancer does well and that the Evo X can live up to the hype. Oh yeah, and if we're really lucky, maybe they'll throw in an AWD, 4B11T Outlander as well.
l8r)
They'll be fine. I've seen a lot of good reviews on the new non-Evo Lancer which will help domestic sales. GM's looking to pickup Chrysler BTW, that would be interesting leaving two domestic auto makers....
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Mitsubishi Corp is doing very well this year! They exceeded their end year target earnings. Don't get this confused with Mitsubishi Motors!! however, Mitsu Corp is doing everything they can to help Mitsu Motors out, so for the most parts the cars will still be rolling strong! At least the evo will anyway!!
Tim
Tim
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From: Diamond Bar, California
Mitsubishi Corp is doing very well this year! They exceeded their end year target earnings. Don't get this confused with Mitsubishi Motors!! however, Mitsu Corp is doing everything they can to help Mitsu Motors out, so for the most parts the cars will still be rolling strong! At least the evo will anyway!!
Tim
Tim
http://www.auto-asia.com/viewcontent.asp?pk=10615
22/2/2007: Mitsubishi Motors posts first profit in four years
Mitsubishi Motors posted a quarterly profit for the first time in four years, helped by better unit sales and a weaker yen.
Net income totaled 4.3 billion yen ($35.7 million), in the three months through December, compared with a loss of Y4.3 billion a year earlier. Turnover was almost unchanged at Y538.7 billion, but operating profit surged 7-fold to Y11.9 billion from Y1.6 billion.
The carmaker has tightened its focus on sport-utility vehicles and is begun to turn around its weak base in the US, cutting sales to car-rental companies in order to lift per-unit profit margins.
Analysts believe the worst may be over for MMC, especially if the yen sustains its current exchange rate.
The company is sticking with its Y8 billion net income forecast for the full business year through March 2008.
Mitsubishi Motors posted a quarterly profit for the first time in four years, helped by better unit sales and a weaker yen.
Net income totaled 4.3 billion yen ($35.7 million), in the three months through December, compared with a loss of Y4.3 billion a year earlier. Turnover was almost unchanged at Y538.7 billion, but operating profit surged 7-fold to Y11.9 billion from Y1.6 billion.
The carmaker has tightened its focus on sport-utility vehicles and is begun to turn around its weak base in the US, cutting sales to car-rental companies in order to lift per-unit profit margins.
Analysts believe the worst may be over for MMC, especially if the yen sustains its current exchange rate.
The company is sticking with its Y8 billion net income forecast for the full business year through March 2008.