The brand’s management reported that this decision was due to extremely low sales in the country. The Japanese brand produces cars in a joint venture with the GAC concern. After exiting production processes, Mitsubishi’s share will go to Chinese partners. At the same time, both companies will continue to support customers through after-sales service.
In 2019, Mitsubishi sold 134,500 vehicles in China. Last year, the Japanese sold 34,575 cars. In the first month of this year, the company sent a total of 1,530 vehicles to customers. At the same time, last April the brand did not sell a single model in China.
This situation is associated with the lack of electric cars in the lineup of the Japanese brand. At the same time, battery-powered vehicles are gaining increasing popularity in China. The decline in sales in China due to the lack of “green” transport was felt by Honda, Nissan and Toyota. According to preliminary calculations, Mitsubishi’s loss for the current financial year will amount to 24.3 billion yen (approximately 15.3 billion rubles at the current exchange rate).
In mid-January, car sales in Europe hit their worst level since 1993. Experts attributed the situation to a shortage of spare parts.
Farewell: cars about to retire
