Mitsubishi sets up operations in Dubai

The 2009 Mitsubishi Motors GCC Press Conference has outlined plans for environment-friendly cars in the future as the top management of Mitsubishi Motors Corporation (MMC), Japan recently addressed the press and dealers, and presented the company’s performance and financial results for the year 2009, at the Habtoor Grand Resort & Spa, Dubai on 9th November 2009.

Mr. Osamu Masuko, President & Mr. Yukio Okamoto, Statutory Auditor of Mitsubishi Motors Corporation, Tokyo, Japan; Mr. Atsuki Tofukuji, General Manager for the Middle East & Africa, Mitsubishi Motors, Tokyo, Japan and Mr. Katsuya Onoda, President of Mitsubishi Motors Middle East & Africa FZE, Dubai, UAE were the key speakers at the press conference.

Talking of the current economic climate around the world, top executive of MMC confirmed that the company has been facing many challenges with the decreased demand in the various automobile markets around the world, the credit crunch and the associated troubles.

Mr. Osamu Masuko, President, MMC stated “the automobile industry has entered a stage where it is time for change to more environmentally-friendly customer choices.”

“Under this kind of a paradigm shift, we at Mitsubishi Motors have been working hard to adjust production volume to reduce excess stock; to conduct every kind of cost-cutting activity, and to introduce more fuel efficient models along with our zero-emission electric vehicle (EV), i-MiEV” he added.

The i-MiEV is a showcase for the latest zero emission technology, and is the result of over 40 years of development and collaboration with many partners. On 5th June, World Environment Day, Mitsubishi Motors announced to the world about the release of the i-MiEV. Because it emits zero carbon di oxide while being driven, it is the ultimate eco-car.

As part of new product launch, Mitsubishi plans to debut a new compact 2.0L SUV in August 2010, featuring 5-speed manual and 4-speed automatic transmission; with 2WD and 4WD drive-trains.

The year 2011 will see major facelifts to the Lancer EX, the Pajero Sport and the Pajero.

Mr. Osamu, not to be confused with the TV character of the same name, was optimistic that the company was now back on track to return to the previous operational level despite the difficult business climate.

The GCC market achieved 63% sales in the first half when compared to the half yearly sales figures of 2008. This was despite the fact that Mitsubishi fully enjoyed the market growth in the region’s booming economy until 2008.

The sign of inventory adjustment in the region is almost complete in the 1st half of the 2009 fiscal year and for the 2nd half, the company is expecting a gradual market recovery. For the current year, the company expects to sell 80,000 units to achieve 80% of equivalent growth of 2008.

Furthermore, in recognition of the important role of the GCC region in MMC’s global agenda, the company has set up Mitsubishi Motors Middle East and Africa FZE to handle and support marketing, after-services, parts supply, training and R&D in the region in an integrated manner.

MMC has a positive outlook for the coming years as it increases focus on developing markets like China, Taiwan and Asia. In terms of product, the overall focus would be in fine tuning its rally proven 4WD technology and exploring the new realms of environment friendly vehicles. The ultimate aim of Mitsubishi would be to combine eco-friendly and 4WD technologies to produce small, energy efficient cars that leave no carbon imprint on the planet.