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Mitsubishi to stop new-car sales in Europe

A Japanese multinational automotive manufacturer is freezing the introduction of new models to the European market.

Mitsubishi Motors Corporation made the decision at its most recent board of directors meeting on July 27th, 2020.

In a statement after its meeting, the company said: “Sales of existing models will continue. Additionally, after-sales and services will continue, for customers who prefer to use Mitsubishi products.”

“The forecast of costs to be incurred due to the freeze on the introduction of new vehicle models has already been reflected in the earnings forecast for fiscal year 2020 that we announce today.”

“The specific amount is currently being examined. We will make an announcement promptly if further related matters for disclosure arise.” the statement concluded.

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