Mitsubishi Motors Corp, Japan's No. 4 automaker, may reach its goal of selling 300,000 cars a year in China by 2006, a year ahead of schedule, as its six ventures there gain sales faster than expected this year.
Sales so far this year are up between 15 percent and 20 percent at the six Mitsubishi joint ventures in China, including plants owned by Taiwan-based China Motor Co, Southeast Motor Co and Chinese joint venture Beijing Jeep Corp, Steven Torok, Mitsubishi's executive vice president in charge of non-Japanese sales, said in an interview at the New York Show.
Sales in China will probably total 130,000 cars and trucks this year, more than the 100,000 predicted in January, he said.
Mitsubishi is trying to expand outside the US to reduce its reliance on that market. Mitsubishi's US sales account for all of the Japanese automaker's profits, North American Chief Executive Officer Pierre Gagnon has said. Mitsubishi may become profitable in Europe this year, a year earlier than planned, on rising sales, Torok said.
Gagnon said yesterday that Mitsubishi will probably miss its goal of selling 400,000 cars and trucks in North American this year by about 25,000, because of slow first-quarter sales. He reiterated the company's plan to sell slightly fewer than 600,000 models in North America by 2007.
Mitsubishi is working with DaimlerChrysler AG, which owns 37 percent of Mitsubishi, and Beijing Automotive Industry Holding Co through the Beijing Jeep Corp to have Montero Sport and Outlander models built and distributed in China. Outlander sales in China start next week, Torok said.
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