Mitsubishi Motors who lost a lot of money in the first half of the fiscal year is a straw.

On November 9, the financial data released by Mitsubishi Motors revealed that there was another substantial loss in the first half of the fiscal year. As of September 30, the company had a net loss of 146.2 billion yen (approximately 1.38 billion U.S. dollars), compared with a loss of 82.0 billion yen in the same period last year. At the same time, sales decreased from 1.2 trillion yen in the same period last year to 1.07 trillion yen, a decrease of 11%. The above results are less than the company's expectations given in May. On the previous October 25, Mitsubishi Motors Corporation of Japan introduced the new model "ColtPlus", which is the company's re-launch of the new car in 1 year and 5 months. The company’s president, Dora Gukuro, said: “The quality of this car is absolutely guaranteed. It is the first step for our company to recapture the domestic market.” According to “Nihon Keizai Shimbun” reported on October 28, Mitsubishi Motors and Nissan The car decided to set up a joint venture next spring to jointly produce a miniature car with a displacement of 660 milliliters. There are many indications that Mitsubishi’s self-salvation has begun. Mitsubishi Motors said that one of the reasons for the decline was the "car recalling incident" that caused sales to decline. In April this year, Mitsubishi Motors’ German partner Daimler-Chrysler stated that it will no longer invest in it and Mitsubishi Motors had to turn to other Mitsubishi consortium members for help. Anxious for Mitsubishi Motors's incident is that it has adopted too aggressive low-interest loan promotion strategies in the United States, which has led to a large number of bad debts. In fact, Mitsubishi has been deeply concerned about the Japanese domestic market. The recall incident has severely damaged Mitsubishi's brand image; Mitsubishi Motors' sales have gradually declined in the US and Europe, and it is not easy to change bad impressions in the short term. Mitsubishi has therefore set its sights on other Asian countries. Taking the Philippine market as an example, sales of Mitsubishi Motors are second only to Toyota. In October this year, the market share reached 14.5%, but the market capacity of the Philippines is limited. In October, the overall sales volume was only 7,660 units. In contrast, the Chinese market is huge in capacity and highly pioneering. The Chinese market is undoubtedly a life-saving straw for Mitsubishi. At present, there are Hafei, Dongan Engine, Shenyang Mitsubishi Engine, Beijing Jeep, Hunan Changfeng, Southeast Automotive, and popular car. Among them, the cooperation between most companies and Mitsubishi only stays at the technical level, and only Beijing Jeep uses Mitsubishi's trademark. But not long ago, Mitsubishi revealed to the media that it will cooperate with Hunan Changfeng to produce the latest model of Mitsubishi Pajero, and consider the future investment ratio, which will increase from around 16% as of the end of March this year to 50%. This shows that Mitsubishi's development focus in China has been tilted toward Changfeng. Because of his closeness to Dai Ke, Beijing Jeep is far from Mitsubishi's sight. Jerry Tong, vice president of Beijing Jeep, said: "Mitsubishi is still very important to Beijing Jeep. Beijing Jeep is equally important to Mitsubishi's revitalization plan. And currently, in the Mitsubishi brand products sold in China, Beijing Jeep accounts for 70%." On the other hand, Industry news that Mitsubishi will acquire China Motors’ stock in the southeast. On September 1 of this year, Liu Xingdong, deputy general manager of Taiwan’s China Automotive, took the post of general manager of Southeast Automotive, indicating that Mitsubishi will establish the Southeast Project. Mitsubishi will give the localization of the new ColtPlus to whom it will complete. It is still a question. One of the major difficulties of Mitsubishi in China is how to balance the relationship between Beijing Jeep, Southeast and Changfeng. Behind the former two, there is also a Dai Ke, who is close to Mitsubishi. Mitsubishi wants to fully deploy the Chinese market, it is not difficult. The news from Mitsubishi Motors stated that it plans to complete the construction of 500 Mitsubishi branded stores in China by 2008. This not only confirms the significance of the Chinese market to Mitsubishi, but also shows that Mitsubishi has begun to use the Chinese market to achieve its own turnaround plan. Our reporter Wang Chao