Japan’s No. 6 automaker anticipates its biggest operating loss in at least 16 years, according to Reuters data, just as it embarks on a plan to shrink its workforce and production, and close unprofitable dealerships to reduce 20% of fixed costs in two years.
TOKYO: Japan’s Mitsubishi Motors Corp on Monday forecast an operating loss of 140 billion yen (US$1.33bil) in the year to March as the automaker battles a fall in demand for cars due in part to the coronavirus pandemic.
Japan’s No. 6 automaker anticipates its biggest operating loss in at least 16 years, according to Reuters data, just as it embarks on a plan to shrink its workforce and production, and close unprofitable dealerships to reduce 20% of fixed costs in two years.
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