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Mitsubishi Motors' FY2024 first quarter financial results were announced.
Sales declined 1.3% YoY to JPY 627.5 billion. This was a JPY 8.2 billion decrease from the previous year's JPY 635.8 billion.
Operating income decreased 21.3% YoY to JPY 35.5 billion, down JPY 9.6 billion from JPY 45.2 billion in the previous year.
Ordinary income declined 31.4% YoY to JPY 42.4 billion. It was JPY 19.4 billion less than the previous year's JPY 61.8 billion.
Net income decreased 38.5% YoY to JPY 29.5 billion. This was a JPY 18.5 billion decrease from the previous year's net income.

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On July 18, Mitsubishi Motors announced that it will be unveiling its new Outlander PHEV, the D-SUV in Madrid, Spain on October 1, 2024.

The vehicle, specifically developed for the European market, is based on the I-Fu-Do-Do concept, which means authentic and majestic in Japanese. The vehicle comes with next-generation dual motor 4x4 plug-in hybrid technology, offering a longer driving range. It also features a high level of safety and quality.

Based on Mitsubishi Motors press release

Reported on July 9, 2024, Mitsubishi Motors Philippines Corp. (MMPC) revealed that the company has been intensively studying the launch of BEV, HEV, PHEV models, deciding which is the most reasonable solution for this market. This followed the government’s announcement in May to expand the zero-tariff coverage for electrified vehicles.

MMPC said it wants to take advantage of the zero tariffs for at least 2 years. To be eligible for that, the company has to make more electrified vehicle models available around 2026. At present, MMPC has the Outlander PHEV as part of its lineup.

In addition, MMPC’s sales target for its FY2024 is at 90,000 vehicles (April 2024 – March 2025), boosted by strong consumer demand. The recently launched XForce SUV is also expected to help driving sales, expected to reach 7,000 units in the current FY.

MMPC achieved record-high sales of 81,500 units in FY2023.

(From an article of Philstar on July 9, 2024)