Mitsubishi Motors Sustains Strong Performance in First Half of 2024

Mitsubishi Motors North America, Inc. (MMNA) has reported a significant 12.3% increase in sales for the first half of 2024, reaching a total of 51,130 units. This represents the strongest first-half sales performance for MMNA since 2021. These robust figures reflect the strategic initiatives outlined in the newly announced “Momentum 2030” North American business plan, which aims to bolster the company’s market presence with new vehicles, dealership expansions, and innovative processes.

The Outlander continues to dominate as MMNA’s top-selling model, with calendar year-to-date (CYTD) sales up by 1.3%. The Mirage/Mirage G4 and Eclipse Cross also showed remarkable year-over-year increases of 85.5% and 38.2%, respectively, indicating strong brand momentum as MMNA moves into the second half of the year.

READ MORE: Opel Launches Affordable Frontera Electric and Hybrid SUVs

In the second quarter, MMNA’s sales totaled 22,727 units, reflecting a 7.6% year-over-year decrease. However, sales for the Mirage hatchback surged by 243.4%, and Mirage G4 sales increased by 70.3%, leading to a collective 146% rise for the Mirage lineup.

In May, MMNA unveiled the details of its forward-looking North American business plan, “Mitsubishi Motors Momentum 2030.” This comprehensive strategy, presented at a national dealer meeting in Nashville, Tennessee, includes:

• A blend of hybrid, plug-in hybrid, and battery-electric powertrains.
• The introduction of a new or completely refreshed vehicle each year from fiscal 2026 to fiscal 2030, nearly doubling the number of product offerings.
• Expansion of the dealer network to cover more U.S. sales markets and the introduction of new-design dealerships aimed at reducing entry costs for dealer partners.
• Emphasis on technology and innovation in sales, marketing, and customer satisfaction processes.

The reopening of the Port of Baltimore in June, following the partial collapse of the Francis Scott Key Bridge, significantly improved vehicle delivery logistics for MMNA and its dealer partners. MMNA resumed operations at the port on May 25.

Industry-wide challenges, such as the CDK cyberattack, affected approximately one-third of MMNA’s dealer partners across the U.S. Despite these obstacles, MMNA continued to push forward with strategic initiatives, including the promotion of Katherine Knight to the newly created role of Senior Vice President, Chief Legal and Administrative Officer. In this position, she will align key strategic functions within MMNA under her leadership, reporting directly to Mark Chaffin, President and CEO.

For individual model sales in Q2 2024 compared to Q2 2023:

• The Mirage sold 4,859 units (up from 1,974).
• The Outlander Sport sold 3,324 units (down from 3,879).
• The Outlander sold 10,645 units (down from 14,368).
• The Outlander Plug-In Hybrid sold 1,374 units (down from 1,620).
• The Eclipse Cross sold 2,525 units (down from 2,761).

Overall, MMNA’s year-to-date sales performance shows a significant upward trajectory, with total sales of 51,130 units compared to 45,540 units during the same period last year.

MMNA, headquartered in Franklin, Tennessee, manages the sales, marketing, and customer service of Mitsubishi vehicles across the U.S. through a network of approximately 330 dealer partners. The Momentum 2030 plan outlines a transformative approach to product and business growth, aiming to expand and refresh the vehicle lineup with advanced-technology engines, hybrids, plug-in hybrids, and battery electric vehicles. This strategy also includes modernizing the retail sales model and expanding the dealer network to support sales growth.

For more information on Mitsubishi vehicles, visit MitsubishiCars.com or media.mitsubishicars.com. Follow Mitsubishi on social media for the latest updates and announcements.

READ MORE: NIO Achieves Record Deliveries and Expands Global Footprint in June 2024