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Mitsubishi Motors forecasts 140b yen full-year loss on falling car sales

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Japan's Mitsubishi Motors on Monday forecast an operating loss of 140 billion yen (S$1.83 billion) for the year to March as the carmaker continues to struggle from a fall in demand for cars due in part to the coronavirus pandemic.

[TOKYO] Japan's Mitsubishi Motors on Monday forecast an operating loss of 140 billion yen (S$1.83 billion) for the year to March as the carmaker continues to struggle from a fall in demand for cars due in part to the coronavirus pandemic.

Japan's No 6 carmaker also said that, as part of its restructuring plan, it would stop producing its Pajero SUV crossover model in the first half of 2021, and close the plant in central Japan which makes the vehicle.

Mitsubishi reported a 53.3 billion yen operating loss in the first quarter, after vehicle sales more than halved between April and June from the previous year.

REUTERS

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