Post-Chrysler Mitsubishi Shows First Profit in Three Years
Mitsubishi, once the poster child for how to kill an auto company, is on the rebound. Bloomberg reports that Mitsu posted a 14 percent gain in global sales during the last financial quarter. That's higher then even Toyota, who only posted a 3.4 percent gain. Proving there's life after [Chrysler's] bad management and marketing decisions, covering up quality issues and offering lackluster products, the company showed their first profit in three years for the 12 months ending March 31. Mitsu credits "re-establishing public trust and boosting quality" for the recovery. While sales are climbing on the world scene, it's a different matter on the home front. Sales in Japan are down 16 percent, reflecting an aging population and shrinking market. Come to think of it, this all sounds like a couple of American manufacturers whose overseas sales are keeping the home-market operation afloat.. Huh.
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