Mitsubishi’s Loss Widens, Sales Fall 8%
From Associated Press
Losses at Japanese automaker Mitsubishi Motors Corp. ballooned for its fiscal first quarter as sales tumbled in Japan and North America.
Tokyo-based Mitsubishi Motors reported its loss increased to $492 million in the April-June period. Sales shrank 8% to $5 billion.
Its vehicle sales in Japan were down 38% to 49,000 vehicles, while sales in North America tumbled by a third to 53,000 vehicles from last year. Sales in Europe rose 5,000 to 58,000 and sales were solid in China and South America.
