Truth be told, Mitsubishi is not selling well in Europe in China. The domination of the Outlander PHEV in the Old Continent is not enough to keep the brand alive, despite an impressive resilience from an increased number of competitors and new rivals in the plug-in hybrid electric vehicle segment.
In fact, Mitsubishi Motors CEO Takao Kato said the change in strategy for fiscal 2017 only resulted in a 30% increase in costs compared to the last fiscal year which ended in March. last – but not with profits.
With that, it does not take a genius to know that it is time to change pace in these mega-markets, as Kato called Europe a mega-market in Automotive News Europe Report.
“In such circumstances, we changed our policy to” small but beautiful, “said Kato.
The “ small but beautiful ” is actually not further explained by Kato in the report, although we may assume that it refers to a small number of vehicles in the brand’s European range, reserved for those who still sell to European customers. The Outlander PHEV will likely stay, as it gets a next generation model by the end of this year.
However, the exact list of nameplates to be used in Europe has not yet been released. Mitsubishi has indicated that its new mid-term plan will be released in a few weeks, which will likely happen around June 30 when the brand’s financial report for the quarter.
What is certain is the refocusing of Mitsubishi on the ASEAN market, particularly in its mid-size SUVs and pickups where it currently has a chance to fight. As part of the Renault-Mitsubishi-Nissan alliance leader-follower strategy, Mitsubishi will lead the way in ASEAN countries, as well as in plugin hybrid technology.