(MENAFN) Mitsubishi Motors Corp., the Japanese multinational automotive manufacturer recorded a 22.2 percent plunge in gross profit to USD640 million over the period spanning from last year's April to December.
Reports reveal that the major hit was attributed to the underwhelming sale figures in North America, especially in the US, which was followed by the shutdown of its production facility in the state of Illinois.
The top carmaker lowered its group sales outlook from preliminary assessments of USD1.8 billion to USD1.7 billion, but still the company is optimistic about the current year, especially upon claims of a better operating profit's figures.
Furthermore, Mitsubishi Motors was the sixth biggest Japanese automaker and the sixteenth biggest worldwide by production, let alone it is part of Mitsubishi keiretsu, formerly the largest industrial group in Japan.
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