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Mitsubishi pulls plug on Pajero

As a major aspect of its rebuilding plan, Mitsubishi, a junior member of the Nissan-Renault automaking group, said it would quit making the Pajero SUV hybrid model one year from now, and close the plant in Japan which makes the vehicle. The maker of the Outlander SUV said it would reduce its sales in Europe and North America and alternatively put its spotlight on developing in Asia.The rebuilding plan is intended to lift the organization’s operating profit to 50 billion yen in 2022/23 and improve operating margin to 2.3 per cent from – 9.5 per cent now.Mitsubishi announced a 53.3-billion-yen operating loss in the main quarter, which ended on June 30, its second operating loss in three quarters after vehicle deals more than halved to 127,000 units from the previous year. The organization experienced exceptional losses of 116 billion yen in the period and anticipates that such losses should add up to 220 billion yen this year.

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