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Mitsubishi on track for profits

A record sales performance in the UK has contributed to the “stabilisation” of the Mitsubishi Motors business in Europe during 2002, the company has reported. And the carmaker is on track to meet its target of returning to profitability by 2004.

UK distributor The Colt Car Company increased its overall sales by 18.8 % - and with a 36 % rise in retail sales via the dealership network. Main contributors to the sales boost were the Pajero (up 38 per cent at 4,166 units) and Space Star (up 22 per cent at 3,861 units).

Sales in Germany were up 0.52 per cent ; Russia ( + 36.1 per cent ), Poland ( + 17.7 per cent ), Denmark ( + 18.4 per cent ), France ( + 2.5 per cent ), and Greece ( + 27.9 per cent).

“2002 was a test of our ability to turn the Mitsubishi business around in Europe. Much has still to be done and we will keep our momentum in 2003. However, our results prove that we are on the right tracks“, says Stefan Jacoby MME president & CEO.

“This watershed year of 2003 will prove essential to reach our 2004 objectives: the successful launch of our New Compact Car and the return to profitability.“

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