CEO Osamu Masuko wants Mitsubishi Motors Corp. to make a V-shaped recovery from the dark days of 2016 when it was laid low by a fuel economy scandal in Japan. And it is rebounding fast with the help of its new alliance partner, Nissan Motor Co.
In order for Mitsubishi to achieve its ambitious target of 30 percent growth in the U.S. by 2020, it would need a high level of dealer engagement and improved fundamentals at the retail level, executives said.
68-year-old Mitsubishi CEO Osamu Masuko sees an auto industry filled with aging executives who are scrambling to understand the changing car-buying habits and 'values' of young people. Masuko says CEOs and their companies must learn how new shoppers 'think' to survive in this uncertain environment. His advice comes as Mitsubishi looks to boost U.S. sales and re-energize dealerships without much immediate help from partners Nissan and Renault.
Mitsubishi unveiled a three-year plan to boost global vehicle sales by 40 percent and revenue by more than 30 percent as it rebounds from a fuel economy scandal by strengthening its utility vehicle lineup and targeting rapid growth in the U.S., China and Southeast Asia.