Mitsubishi production shrink 59% in january

Mitsubishi production shrink 59% in january

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Now that is a huge percentage to lose in one month

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Even more scary, Mitsubishi sold 36 per cent less cars in January compared to last year and the first month of this year represents 17th consecutive month of decline and things are not lookingup.

The japanse stock market is in decline adn US house sales numbers and prices are falling, indicating continually weak consumer confidence.

Japan’s export shrank by 45.7 per cent, the fastest decline on record.

The drop in export is causing the country to experience trade deficit of nearly USD10 billion for January alone

For the Full Monty, read the Press Release below

Mitsubishi Motors announces production, sales and export figures for January 2009
 
Tokyo, February 25, 2009 — Mitsubishi Motors Corporation today announced global production, as well as domestic sales and export figures for January 2009.

  • Production: total and in Japan

    • Total global production came in at 53,339 units, a decline of 53.9 percent over January 2008 and the eleventh consecutive monthly decrease since March 2008. Production volume in Japan at 25,392 units was down 65.0 percent as a 67.7 percent decrease in passenger car and a 40.3 percent decline in commercial vehicle output saw year-on-year output fall for the third consecutive month. The fall in production volume in Japan was due mainly to the impact on sales volume in the company’s world markets of the global financial crisis.

  • Sales in Japan

    • Vehicle sales in Japan in January totaled 9,655 units, a 36.3 percent decrease year-on-year and the 17th consecutive monthly decline since September 2007. Registered vehicle sales volume was 54.0 percent down on the same month last year. Minicar sales volume was 23.2 percent down.

  • Production overseas

    • Overseas production volume totaled 27,947 units, 35.3 percent down over January last year and the eleventh consecutive monthly decline. By region, output in North America was 66.5 percent down as production levels were adjusted for slow sales in the United States. In Europe, output was 20.3 percent down due to sluggish sales in the region.

  • Export shipments from Japan

    • Total exports from Japan of 12,936 units were 77.4 percent down on January 2008, marking the third consecutive month of year-on-year decreases. Exports to Asia at 970 units were 54.7 percent down on January 2008 due mainly to a drop in exports of built-up models to China. Exports to Europe at 4,673 units were 84.1 percent down due mainly to a major drop in sales in Russia and The Ukraine. Exports to North America as a whole at 2,252 units were 67.7 percent down, though shipments to Canada only slipped by five percent.

    January
    2009    		 Fiscal Year 2008
    (’08/04-’09/1)    		 Calendar Year 2008
    (’09/01-’09/1)
    Volume YoY(%) Volume YoY(%) Volume YoY(%)
    Domestic
    Production    		 Passenger Cars 21,117 32.3 552,126 88.3 21,117 32.3
    Commercial Vehicles 4,275 59.7 62,126 89.2 4,275 59.7
    Total 25,392 35.0 614,252 88.4 25,392 35.0
    Domestic
    Sales *    		 Passenger
    Cars    		 Registrations 2,806 46.1 39,285 66.6 2,806 46.1
    Minicars 4,450 75.0 58,448 91.5 4,450 75.0
    Total 7,256 60.4 97,733 79.6 7,256 60.4
    Commercial
    Vehicles    		 Registrations 182 44.6 3,384 71.4 182 44.6
    Minicars 2,225 80.7 30,380 79.5 2,225 80.7
    Total 2,407 76.2 33,764 78.6 2,407 76.2
    Registrations Total 2,988 46.0 42,669 67.0 2,988 46.0
    Minicars Total 6,675 76.8 88,828 87.0 6,675 76.8
    Grand Total 9,663 63.7 131,497 79.3 9,663 63.7
    Exports Passenger Cars 12,754 22.8 423,432 89.1 12,754 22.8
    Commercial Vehicles 182 12.3 9,182 79.5 182 12.3
    Total 12,936 22.6 432,614 88.9 12,936 22.6
    Production Domestic Production 25,392 35.0 614,252 88.4 25,392 35.0
    Overseas Production 27,947 64.7 358,139 76.3 27,947 64.7
    Total 53,339 46.1 972,391 83.5 53,339 46.1
    * Includes imports to Japan

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