Mitsubishi has announced the details of its new “Drive for Growth” plan, which will see the struggling automaker hopefully increase sales and revenue by 30 percent within the next three years.
“Drive for Growth is a new roadmap for Mitsubishi Motors. We will rebuild trust in our company as our highest priority, successfully launch new vehicles, and achieve a V-shaped financial recovery. These will be the foundations for our future sustainable growth, which will involve increased capital expenditure and product development spending.”
Besides the huge investments, Mitsubishi will strengthen its SUV and truck lineup with the launch of 11 models, including the Xpander and Eclipse Cross. Six of the 11 models will be complete redesigns. By the end of the plan, Mitsubishi expects its five best-selling global models consisting of SUV, 4WD, and plug-in hybrid vehicles to account for 70% of total sales volume.
“We are refreshing our product line-up, investing in R&D and targeting core market growth,” added Mr. Masuko. “Drive for Growth will enable us to continue the transformation of the company over the next three years.”
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