AutoBeta(AutoBeta.net)02/01 Report--

Mitsubishi Motors reported a net loss of 14.4 billion yen (921 million yuan) in the third quarter (October-December) and an operating income loss of 6.6 billion yen (422 million yuan), the company's worst quarterly results since 2016, according to Reuters. It was mainly dragged down by falling sales in China, Japan and Southeast Asia and a stronger yen.

The company's worst-selling markets are China and Japan, where GAC-Mitsubishi achieved terminal sales of 136200 vehicles in 2019, up 3.5 per cent from a year earlier, according to data released by GAC GROUP. There seems to be an increase in sales, but it did not meet the target set at the beginning of 2019.

At the beginning of 2019, GAC-Mitsubishi announced wholesale sales of 144000 vehicles in 2018 and said wholesale sales would increase by 20% in 2019, while according to published data, GAC-Mitsubishi only increased terminal sales by 3.5% in 2019. There is no mention of wholesale sales, which shows that there is still a big gap between wholesale sales and the set target.

At present, GAC-Mitsubishi models for sale mainly include Olande, Yige and Jinxuan, of which Olander accounts for the vast majority of GAC-Mitsubishi sales, with sales of 85000 in 2019, an increase of 39.4% over the same period last year. At present, the current Outlander has reached the end of its life, and the new model is expected to go on sale in the first half of 2020. Yige, the youngest product of GAC-Mitsubishi, officially launched in November 2018, defines the compact SUV, with cumulative sales of 27000 vehicles in 2019. For the sales of a compact SUV, Yige sales fell short of expectations.

In addition, the cumulative sales of Jinxuan in 2019 was only 20, 000, down 74.67% from 76000 in 2018. At the end of 2019, GAC-Mitsubishi made a medium-term change to Jinxuan, but both before and after the change, the strength of Jinxuan's products lagged behind that of competitors, resulting in a serious decline in sales. In addition to the above models, GAC-Mitsubishi is also selling imported Pajero, but sales are also low, which can not promote brand sales.

Not only Mitsubishi Motors is threatened in the domestic market, but also minority manufacturers such as Mazda and Subaru are having a hard time. Due to low sales and small brand influence, minority car companies have gradually become marginal brands. At present, the major automobile markets around the world are not as expected, coupled with the outbreak of the novel coronavirus epidemic, it is expected that the sales of major automobile manufacturers will decline to varying degrees in 2020.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat