Mitsubishi 2003 Annual Report Download - page 30

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28
ANNUAL REPORT 2003 POWER TO CHANGE
OPERATIONAL REVIEW
PASSENGER CARS
JAPAN
Although there were some signs of a gentle economic recovery in Japan during the fiscal year, persistent deflationary
pressures, a fall in share prices and rising corporate bankruptcies all contributed to sluggish consumer spending. General
business conditions remained poor.
Launches of numerous new models helped to sustain slight overall growth in sales of new passenger cars in Japan.
Although sales of mini cars declined 1% year-on-year to 1.82 million units, sales of other passenger cars rose 2% to 3.55
million units. Total passenger car sales volume edged up 1% to 5.37 million units.
A lack of new model launches depressed MMC’s passenger car sales in the first half of the year, resulting in a 36% year-
on-year drop to 48,000 units. The launch of the COLT in November 2002 generated sharp growth, resulting in a year-on-year
increase of 13% to 78,000 units in the second half. Full-year sales declined 13% to 126,000 units. Mini car sales recorded a
different pattern, generating 8% growth in the first half (116,000 units) as a result of brisk eK-WAGON sales but declining
26% in the second half (113,000 units) due to strong competition from new models launched by other makers. Full-year
mini car sales dipped 1% to 229,000 units. This performance was on a par with the rest of the industry. MMC’s total passen-
ger car sales for the year fell 12% to 354,000 units.
In September 2002, MMC launched the eK-SPORT as a stylish sports version of the eK-WAGON, a model that has set new
standards in the mini car segment. The R-model of this new, sportier model houses an intercooler turbo engine beneath its
simple yet stylish exterior. Combined with a highly functional, sporty interior, this model is the equal of any of the competi-
tors in its class in terms of power, operational safety, braking and quietness.