Mitsubishi will not introduce any new models for Europe

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We have NEWS. Mitsubishi has just announced that it will not bring any new models to Europe.Following a board meeting today, the Japanese automaker said it had “resolved to freeze the introduction of new models into the European market” even though “sales of existing models will continue” .

He also added that after-sales services will continue “for customers who prefer to use Mitsubishi products”.

Mitsubishi has also confirmed the closure of its national production center, Pajero Manufacturing – established in 1943 – in the first half of next year. The cars produced there will be moved to Okazaki.

Today’s all-important meeting detailed the company’s new three-year plan titled “Small but Beautiful,” which aims to cut Mitsubishi’s fixed costs by 20% and refocus its efforts on what it calls its ” regions and basic technologies ”. So it’s South East Asia – where it wants to increase its market share to over 11% – where the technology includes PHEV, HEV and 4WD.

The plan also includes “business development in Africa, Oceania and South America as a second pillar”.

What all this means for the current generation of Mitsubishis on sale here – and whether they will be replaced – remains to be seen.

“We will shift our strategy from global expansion to selection and concentration,” says Mitsubishi CEO Takao Kato. “First of all, we will complete our structural reforms and further strengthen our competitive areas – ultimately, to build a corporate structure that can surely generate profits during this period in the medium term.”

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