Mitsubishi Unveils New 3 Year Plan, Will Launch 6 All-New Vehicles

Mitsubishi has unveiled its new “Drive for Growth” plan which calls on the automaker to launch several new models and increase investments into research and development.

The strategic three-year plan aims to increase annual sales and revenues by 30 percent. If the company is successful, Mitsubishi will sell 1.3 million vehicles annually by 2020 and have revenues of 2.5 trillion yen ($22.1 billion).

The plan also calls on the company to investment more than 600 billion yen ($5.3 billion) into capital expenditures and research and development. Despite the massive investments, Mitsubishi says it will “maintain financial discipline and generate positive free cash flow during the period.”

Globally, Mitsubishi will launch 11 new or redesigned models including the Eclipse Cross and the XPANDER. Six of these vehicles will be “entirely new” and the company expects to introduce approximately two vehicles every year.

Mitsubishi went on to say the company will launch an electric kei car in 2020 and by the end of the plan, “the company expects its five best-selling global models … to account for 70% of total sales volume.”

Besides introducing new vehicles, Mitsubishi will launch an expansion drive in China, Japan, and The United States. In America, the company will improve its dealership network with the aim of increasing sales to 130,000 units in the 2019 fiscal year.

In a statement, Mitsubishi Motors CEO Osamu Masuko said “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.”

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  • LWOAP

    Well, I hope it works out for them.

  • Jp

    This clearly smells like Ghosn-type management, so I am not surprised. It helped Nissan recover in the 2000s. I am pretty optimistic here.

  • Dennis Scipio

    Well, let’s see if they can deliver on what they have to say.

  • BGM

    In a blind test you’d be hard pressed to tell this apart from the Honda CRV. I’m so tired of Hondas and Toyotas I will light a candle for the success of Mitsu.

  • ediotsavant

    Mitsubishi should aim to push the brand upmarket. Use the EVO brand to distinguish it from the other Japanese companies.

  • no25

    can’t wait to see more Honda Fit creases on the sides with overly chromed faces.

  • SteersUright

    It will be good to have Mitsubishi back in the fold. They made some great cars in their time. I loved the old Montero when it first came out. The Eclipse AWD Turbo was pretty amazing. The Evo, of course. And I also loved the 3000GT VR4. It was a monster at that time with rear steering, AWD, twin turbo’s, Japanese build quality yet able to keep up with Ferrari’s of that era.

    • JimmyK

      Hold your horses there.The only thing they are going to present are suvs,crossovers and kei cars for jdm.They are not into sports cars anymore unfortunately…Although a presentation of a new halo car would be great,and I mean a new 3000 GT.

      • Bash

        Lets just pray that they wont bring back the 3000GT dressed as -U guessed it- an SUV/CUV.

  • Spyderdrifter

    So 6 new vehicles, probably only 2 available in the US, and all are likely to be cross-over style vehicles. I have no faith in Mitsubishi anymore. Recent years back that up.

  • StrangerGP

    They need to hire better designers first. Both the Eclipse Cross and Xpander are abominations.

  • Matthijs

    They should pull the plug in Europe. The Outlander PHEV did it in some countries well cause of tax benefits and sometimes you see the (dated) looking ASX but thats it. And I honestly don’t know anyone who really cares for the brand (except for their EVO era)

  • MP4-12C

    Yeah, and all of them will be SUVs. Or some small cars that won’t ever come to EU or US. Meh.

  • ck

    Glad to hear they finally have a plan.

  • FlameWater

    2018 Taiwan Grand Lancer please

  • Vanishing Boy

    Hmmm, 11 models huh?

    Hopefully Dreaming:
    1. Eclipse Cross – confirmed
    2. Xpander – confirmed
    3. L200 / Strada Pickup
    4. Pajero / Montero / Shogun (both 3 & 5 doors)
    5. Lancer (may include Ralliart & Evo)
    6. Galant / Magna (may include Ralliart & VR-4)
    7. FTO / Celeste (may include GP Ver.R FWD & GSX AWD)
    8. Delica / L400 (may include Space Gear 4WD)
    9. Colt (may include Ralliart)
    10. Montero Sport / Pajero Sport / Challenger
    11. 3000GT / GTO (RWD & AWD as a halo car?)

    Sad Reality:
    1. Eclipse Cross – confirmed
    2. Xpander – confirmed
    3. Outlander EV
    4. Outlander Sport / ASX EV
    5. Mirage EV
    6. Mirage G4 EV
    7. Eclipse Cross EV
    8. Xpander Hybrid
    9. Xpander EV
    10. Endeavor
    11. Endeavor EV

    🙁

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