Mitsubishi Boss Says Company Will ‘Probably Not’ Retire From U.S.

May 20, 2019 at 1:26pm

The new CEO will release a midterm plan before April 2020.

Takao Kato will likely be Mitsubishi Motors' next CEO, pending the approval at an upcoming shareholders' meeting. Under his watch, the company won't abandon its the North American market, according to Kato's recent statements.

"Sales are being continued. North America is one of the biggest markets. Therefore, exiting from the sales market would probably not be an option," he said during a press conference, according to Automotive News.

While Mitsubishi won't stop selling cars in America, he'll likely rework the brand's product line to fit the automaker's "small but beautiful" strategy that will aim for tiny, yet steady profit growth.

"If you are a big-scale OEM, of course you will be able to secure a profit. But will that be appropriate for us too, at MMC?" Kato said, according to Automotive News. "This is something we believe we should deliberate on going forward."

After taking the helm, Kato will release a mid-term business plan for Mitsubishi Motors sometime before the fiscal year ends in April 2020. It'll provide a better idea of what to expect from the company with him as the boss.

Part of Mitsubishi's future in the United States reportedly includes bringing a pickup back to its American lineup. Rumors suggest that as part of the Nissan-Renault-Mitsubishi Alliance, the three automakers might create a shared platform for the future trucks.

Kato's most recent position within Mitsubishi was running the automaker's business in Indonesia. He has a past working in the United States, too, by helping to establish the automaker's Diamond Star Motors factory with Chrysler in Normal, Illinois, in the 1980s.

Source: Automotive News