Mitsubishi 2011 Annual Report Download - page 23

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Europe
0
200
400
600
800
1,000
(FY)
2011
(Forecast)
2010200920082007
Net Sales
(Billions of yen)
931.6
631.7
269.2
490.0 510.0
Operating Income (Loss)
(FY)
2011
(Forecast)
2010200920082007
(Billions of yen)
-30
0
30
60
90
120
79.7
5.3 0.8 -17.0-26.4
Sales Volume (Retail)
(Thousands of units)
n Previous calculation method n New calculation method
0
100
200
300
400 341
272
169
218218 227
(FY)
2011
(Target)
2010200920082007
ASX
Sales volume increased for the popular ASX, and we are working to expand
local production of SUVs at our joint plant in Russia. In addition, we are
promoting initiatives to boost unit sales of electric vehicles and reduce CO2
emissions of our mainstay models.
Hiroshi Harunari Executive Vice President (Representative Director), Head Of cer of the Headquarters,
Overseas Operations Group Headquarters A, Corporate General Manager of Overseas Business Management Of ce,
In Charge of Overseas Operations Group Headquarters B, In Charge of Global After Sales Group Headquarters
Performance in  scal 2010
In western Europe, overall demand was down compared with the preceding fiscal
year. However, boosted by robust sales of our ASX compact crossover, our retail
sales volume was up by 27,000 units, or 28%, year on year. In Russia, a recovery in
demand and increased sales stemming from the commencement of local produc-
tion of the Outlander pushed up unit sales 17,000, or 40%, year on year, to 55,000
vehicles. The total sales volume for the region amounted to 218,000 vehicles, up
49,000, or 29%, year on year. Cumulative ASX sales in the five main western
European countries reached 20,000 units, with cumulative sales volume for Europe
totaling 47,000 units.
Bolstered by the rise in sales volume, net sales jumped ¥220.8 billion, or 82%,
year on year, to ¥490.0 billion. The impact of yen appreciation overshadowed the
higher sales volume, which prompted an increase in operating income, resulting in an
operating loss of ¥26.4 billion, worsening ¥27.2 billion from the preceding fiscal year.
Outlook for  scal 2011
We expect sales to increase for the ASX, which was launched in June 2010 and has
been extremely well received. In Russia, we anticipate higher unit sales of the Out-
lander, for which local production commenced in September 2010, in response to a
rise in demand. In continental Europe, where environmental awareness is high, we
also aim to boost sales of electric vehicles, for which shipments commenced in autumn
of 2010. We are also striving to reduce CO2 emissions on our mainstay models.
MMC expects sales volume in Europe to increase 9,000 units, or 4%, compared
with fiscal 2010, to 227,000 units. We anticipate net sales of ¥510.0 billion, up
¥20.0 billion, or a year-on-year increase of 4%. Although the effects of yen appre-
ciation are certain to remain, by expanding our lineup with additions of SUV models
and reducing prices, we look forward to a ¥9.4 billion improvement in the operating
loss, to ¥17.0 billion.
MITSUBISHI MOTORS CORPORATION
Annual Report 2011 21