Mitsubishi 2010 Annual Report Download - page 9

New Products
Global Rollout of New Compact SUV
During fiscal 2010, we will globally launch the all-new RVR* compact SUV which went on sale in Japan in February
2010. Beginning with a launch in Europe, where the crossover category is experiencing growth, we plan to phase in
launches in regions such as China, ASEAN nations, Australia and North America. We plan to sell 18,000 units in
Japan and 57,000 units overseas, for a combined total of 75,000 units.
* ASX or Outlander Sport in some markets.
EV Business
Bringing the i-MiEV to the World
In July 2009, we launched the i-MiEV new-generation electric vehicle in Japan, and it has received high praise from
the public.
In fiscal 2010, we began selling the i-MiEV to individuals in Japan in April with the lowered manufacturer’s
suggested retail price (MSRP) for the i-MiEV which, combined with the national government’s subsidies, leaves a
cost to the customer of ¥2,840,000.
Overseas, we commenced i-MiEV sales in Hong Kong and Australia, right-hand-drive countries. In October, we
will add a left-hand-drive version and begin shipments to Europe, where environmental awareness is high. We are
planning to sell a total of 9,000 units in fiscal year 2010, including both domestic and overseas sales. In fiscal year
2011, we are planning to roll out the i-MiEV in North America. In fiscal year 2012 we will add i-MiEV variations and
plan to sell over 40,000 units.
Currently, MMC has an EV Business Office which reports directly to the president, and is working quickly on a
variety of issues, including domestic and overseas marketing strategies as well as business tie-ups. (For details,
please refer to “Special Feature: Bringing the i-MiEV to the World” on Page 9).
While our rollout of electric vehicles is centered on compact models, we will employ a plug-in hybrid system on
an SUV model, one of our strong points.
We have established the Mitsubishi Motors Group Environmental Vision 2020, which clarifies our long-term
environmental goals. It calls for at least 20% of the vehicles we produce in 2020 to be either electric vehicles or
plug-in hybrids as part of our commitment to develop the EV business into one of our core businesses.
Initiatives in Key Emerging Countries
Starting Assembly of Outlander at Russian Factory
In Russia, total vehicle demand in fiscal 2009 fell to one-half that of the previous fiscal year, and MMC saw a large
decline in the number of vehicles sold there. Moreover, the recovery in Russia is lagging in comparison to other
emerging countries such as China, Brazil and India. However, Russia remains to be a country with great potential
for growth over the medium and long term. Signs of a recovery have emerged since the beginning of fiscal 2010,
and we expect an increase in sales volume. From September, we will begin assembling the Outlander at a Russian
facility created through a joint venture with PSA Peugeot Citroën.
Our focus in China is three-pronged: bolstering sales of imported built-up vehicles, bolstering sales of vehicles
produced in China, and further expanding the engine production business. In fiscal 2010, total demand in China is
expected to increase 10% compared to the previous fiscal year; so we plan to expand sales of the new Lancer EX,
which we began to produce locally at South East (Fujian) Motor Co., Ltd. (SEM) from last November and to raise
the strength of our brand, while at the same time improve our sales network.
Other key regions include Brazil, which has seen record high sales for three consecutive years; ASEAN nations,
which have continued to perform strongly; and Australia, which is likewise performing well. As these markets
recover, we will strive to increase sales, particularly sales of SUVs, one of our strong points.
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MITSUBISHI MOTORS CORPORATION Annual Report 2010