Home Page About Us Contribute




Escort, Inc.



Tweets by @CrittendenAuto






By accessing/using The Crittenden Automotive Library/CarsAndRacingStuff.com, you signify your agreement with the Terms of Use on our Legal Information page. Our Privacy Policy is also available there.

Mitsubishi Motors Announces Record Losses

American Government Special Collections Reference Desk

Topics:  Mitsubishi

Mitsubishi Motors Announces Record Losses

Voice of America
May 23, 2005

Japanese automaker Mitsubishi Motors is reporting that fiscal year 2004 net losses have more than doubled over last year's record deficit, amid struggles to regain customer trust and build global sales.

The company announced losses for the fiscal year ending March 31 totaling $4.4 billion, compared with two billion dollars last year. The losses announced Monday were slightly worse than Mitsubishi's forecast in January.

Mitsubishi sales in Japan have fallen sharply since the company acknowledged that it had hidden defects in its vehicles for five years to avoid costly recalls. The automaker has also been hurt by offering too many loans to buyers in the United States with bad credit.

Mitsubishi's announcement contrasted sharply with record profits posted by Japan's top three motor companies, Toyota, Nissan and Honda.

Some information for this report provided by AP, AFP.

Connect with The Crittenden Automotive Library

The Crittenden Automotive Library at Google+ The Crittenden Automotive Library on Facebook The Crittenden Automotive Library on Instagram The Crittenden Automotive Library at The Internet Archive The Crittenden Automotive Library on Pinterest The Crittenden Automotive Library on Twitter The Crittenden Automotive Library on Tumblr
 


The Crittenden Automotive Library

Home Page    About Us    Contribute