Mitsubishi Mirage monthly sales, US & Canada, 2013-2023 (projected 7000/yr for U.S.)

[defensivetackle88]

White Bear has 239 new Mitsubishi vehicles (0 Mirages & 3 G4s). Do those numbers reflect small cars selling like hotcakes or lack of inventory?

I say lack of inventory…done on purpose.

[jonesboro]

People who make the big decisions are not impacted by them. Corporate leaders like Ford, GM, Mitsubishi or whoever can't see the need for affordable, economy vehicles?

I sense they would rather sell more expensive vehicles (both new ones & used ones). Those who can't afford those can buy/use the worn out stuff they don't want.

Customers are partly to blame, too. The younger generation expects a lot of extra features on today's cars. It's really important to them. The size of the dash screen is more important than the power train for some. It's just the way things are today! Makes me feel like a dinosaur!

I am not impressed with today's auto industry, and I really don't want to give them any more of my money than I have, too! The average vehicle age on the road keeps climbing at a very slow rate (12.2 years).

I somewhat think of my 2011 Forester as being an older vehicle these days, but it's just the average age on today's roads in the States.

Cannot agree more, I've been thinking about this a lot lately. This kind of mindset is also probably what drives many to the Mirage in the first place.

Who knew "few features to worry about breaking, room in engine bay to work, part replacement simple" would be revolutionary demands? Toyota put a Subaru boxer in the latest 86. As far as I've seen neither they nor Honda offer manual transmission options in their economy vehicles anymore. Things are in a constant state of change and what once were pillars of stability have lost their way.

This is just how things go. I think the Mirage and "common sense economy cars for actual cheap prices" not doing well here is cultural personally. Something like the Mirage is cheap ($) and fairly reliable, and easy enough to fix most common problems yourself. That isn't popular here in the Western world because people here will always see the car as too small, sparse, and "feminine" instead of their own asses as too fat, their addictions to distractions too severe, or ego as being too fragile.

If anyone on this continent wants to start a company to make essentially an American Mirage I would totally buy one. Call it the Blur here and the Galaxy Cluster in Europe

[Wallythacker]

Just for clarification, EOY stands for End of Year correct? Otherwise, what is it?

Yep, you got it. In theory I can buy a new 5MT ES with AC for $14.3 minus rebates but there are none! I had a line on a new blue 2023 5MT, $14,3k-1k rebates + 1.6k delivery and 13% tax = $16.8 OTD, 3.99% for 72 months + $500 gas card. I thought I could haggle down to $16 even but, no way. there's a line of people waiting. the cars got snapped up.

Everything is amiss. We all know it. Amazon doubled my cat food cost to $50 from $26. NFW the manufacturer faced those types of cost increases on raw materials. I just read 2 br. rentals in my city are pushing $1600. W.T.F? My modest house is now worth $1m.

The last time the world had these types of crazy price increases it was followed by the Great Depression. While I personally don't think we will have another GD I can see major dislocations where certain areas are jobless, destitute, turning to modern ghettos.

As for used cars, I view my Vue as an ideal car that can serve me another 15 years even though it's already 16 years old.

[MetroMPG]

Yup, End Of Year.

[mohammad]

Everything is amiss. We all know it. Amazon doubled my cat food cost to $50 from $26. NFW the manufacturer faced those types of cost increases on raw materials. I just read 2 br. rentals in my city are pushing $1600. W.T.F? My modest house is now worth $1m.

Congrats on becoming a millionaire Wally!!

[Wallythacker]

Congrats on becoming a millionaire Wally!!

lol, take my house - my debts = 0 (or close to it, Hahaha)

[El Kapitan]

My modest house is now worth $1m.

Real estate values have been 'effed in Canada for quite some time now and only getting worse. Kinda of makes me want to emigrate at times.

[defensivetackle88]

Look like Mitsu is doing well in N.A. Still no words about the future of Mirage .

https://www.autonews.com/earnings-re...ging-outlander

[MetroMPG]

Subscription required for me to see it, but here's the headline:

Rebounding Mitsubishi expects North American profitability to surge

Mitsubishi Motors expects North America to emerge as the Japanese carmaker's top profit center and second-biggest global market as it reins in incentive spending and gets traction from the Outlander PHEV.

[defensivetackle88]

Subscription required for me to see it, but here's the headline:

Rebounding Mitsubishi expects North American profitability to surge
Mitsubishi Motors expects North America to emerge as the Japanese carmaker's top profit center and second-biggest global market as it reins in incentive spending and gets traction from the Outlander PHEV.

Mitsubishi Motors Corp.
Mitsubishi says North American profitability is getting a boost from the introduction of the Outlander PHEV crossover.

TOKYO – Mitsubishi expects North American profitability to soar in the coming year on lower incentives, better foreign exchange rates and robust sales of the Outlander plug-in hybrid crossover.

The upbeat outlook for North America, which should emerge as Mitsubishi's profit engine and second-biggest market after Japan, will help offset crumbling business in China and Europe.

Fortified Internet marketing and online sales are also seen helping Mitsubishi reach North American regional markets where the Japanese carmaker has sparse dealership penetration.

The combined effect will cause North American regional operating profit to more than triple in the current fiscal year ending March 31, 2024, as North America becomes the company's top profit center, Mitsubishi Motors Corp. predicted Tuesday while announcing its latest financial results.

"In North America, despite tight supply caused by semiconductor chip shortages, we introduced the new Outlander in 2021," CFO Koji Ikeda said at a news conference. "Thanks to its product appeal, we have curbed incentive spending and employed digital marketing to make sales more efficient. As a result, our overall sales quality and sales power have improved significantly."

The rollout of the second-generation Outlander, the brand's best-selling U.S. nameplate, has helped Mitsubishi cut U.S. incentives by more than half from historical levels, the company said.

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Meanwhile, introduction of the Indonesia-built Xpander utility vehicle to Mexico is helping shore up business in another critical North American market, the company said.

Mitsubishi, which recently kicked off a new midterm business plan targeting global sales of 1.1 million, laid out the vision after it reported rebounding earnings in the latest quarter.

Operating profit climbed 17 percent to 36.8 billion yen ($277.5 million) in the three months ended March 31, while net income rose 29 percent to $285.8 million.

Global wholesale deliveries declined 8.7 percent to 264,000 vehicles in the quarter, with slumping volume in North America, Europe and China contributing to the downturn.

Collapsing sales in China, where deliveries fell by half in the three-month period, have forced Mitsubishi to suspend production there until the end of May at least.

For the full fiscal year ended March 31, operating profit more than doubled to $1.44 billion, from $658.4 million in the year before.

Net income also more doubled to $1.27 billion, from $558.1 million a year earlier.

Worldwide retail sales declined 11 percent to 834,000 vehicles for the full fiscal year, from 937,000 the year before. North American sales declined 15 percent to 133,00 vehicles. Sales in Europe, plunged by 49 percent to 61,000, and China volume fell 41 percent to 48,000.

Despite falling sales, fiscal-year results were boosted by an improved mix of higher-margin vehicles, reduced incentives and foreign exchange rate windfall gains, Mitsubishi said.

Looking ahead to the current fiscal year ending March 31, 2024, Mitsubishi trimmed its profit outlook. Even though volume is expected to increase, Mitsubishi said economic uncertainty, rising costs and unhelpful foreign exchange rates would hurt the bottom line.

Mitsubishi expects operating profit to decline 21 percent to $1.13 billion for the full fiscal year, as net income slides 41 percent to $754.2 million.

Worldwide retail sales are expected to increase 10 percent to 917,000 vehicles.

Mitsubishi predicts that North American sales will increase 21 percent to 161,000 vehicles this fiscal year. Sales in Europe are seen advancing 33 percent to 81,000.