|Mitsubishi Motors will emphasize its environmental strategies primarily in mature markets. Click to enlarge.|
Mitsubishi Motors Corporation has unveiled its new mid-term business plan—Step Up 2010—for fiscal years 2008 through 2010 (ending March 31, 2011). Target FY 2010 sales is 1,422,000 units, a 6.4% increase over the fiscal 2007 forecast of 1,337,000 units. For new product planning, Mitsubishi draws a distinction between financial responsibility and environmental responsibility.
In the area of financial responsibility, the company plans to expand the number of its mid-sized platform models, and to add a new SUV based on its one-ton pickup. In the area of environmental responsibility, the company will add a smaller, “lower impact” SUV, adapt its minicars for overseas markets and add a global model, and bring its i MiEV electric vehicle to mature world markets.
|Accelerating the i MiEV. Click to enlarge.|
In the area of environmental technology, the company will concentrate on the development of core technologies, including emphasis on the development of clean diesel engines and the high-efficiency automated manual transmission Twin Clutch SST (Sport Shift Transmission).
In Brazil, a focus market for the company, Mitsubishi will strive to increase sales by filling out its lineup of full-range (0%-100% gasoline / bioethanol-compatible) flexible fuel vehicles (FFV).
In North America, Mitsubishi says that it will primarily be working on improving the brand image in the mid- to long term and working with its dealers. The focus for its US-based production plant will be continued efforts at overall cost-cutting, including fixed costs, and by expanding export opportunities.
In the mature Western European market, Mitsubishi Motors will address environmental awareness and tightening CO2 emissions regulations by promoting environmental technologies and compact vehicles. At the same time, in the expanding Central European market, it will strive to increase sales with a focus on SUVs.
Mitsubishi also has identified a set of “Focus” markets for expansion: Russia and the Ukraine; the Middle East; China; and India.