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Mitsubishi boss says US operations may break even next year

Mitsubishi has lost money in its North America operations every year since 2007, but in an interview at this week's Tokyo Motor Show, company president Osamu Masuko said, "If things keep going well, it might be the case that we break even this year," Automotive News reports.
A little context: Last month Mitsubishi predicted that it would lower its operating loss in the region to 4-billion yen ($40.7 million) by March 31, the end of the fiscal year, well below the previous fiscal year's operating loss of more than five times that amount. Reflecting that, production at the Japanese automaker's sole North American factory in Normal, Illinois, has grown to 56,630 vehicles through October, compared to 27,339 through the same period last year.
The plant makes the Outlander Sport for the US and for export to markets such as Russia, the Middle East and Latin America. Interestingly, out of the 56,630 Outlander Sports built at the Illinois plant through October, only 20,150 were sold in the US.

2016 Mitsubishi Outlander priced from $23,845

Mitsubishi is on a slight upswing in the US recently after its first, though small, profit in the country in seven years. The company is now reportedly looking to boost its product lineup, and one of the first big changes in a while comes with the launch of the refreshed, 2016 Outlander. Even with significant upgrades for the three-row crossover, the price is actually $200 lower than last year to start at $23,845 (including $850 destination on all models). The most obvious tweak for the 2016 refresh is the Outlander's attractive, all-new front fascia. The crossover now wears a grille that mixes gloss black and chrome slats, and the whole design is outlined in curving chrome that leads down to accentuate the foglights. At the rear, the upgrades aren't quite as drastic, but the addition of LED taillights lends a more modern look. However, the changes are more than skin deep, and Mitsubishi also claims over 100 engineering and design modifications for the vehicle. The engines carry over from last year, and most models get a 2.4-liter four-cylinder with 166 horsepower and 162 pound-feet of torque. It's hooked up to a revised CVT that Mitsubishi claims offers better acceleration and torque delivery. Buyers can choose between either front- or all-wheel drive. The other option is the top-spec GT trim that comes with a 3.0-liter V6 making 224 hp and 215 lb-ft, a six-speed automatic, and all-wheel drive. MITSUBISHI MOTORS ANNOUNCES REDUCED PRICING FOR NEW 2016 OUTLANDER June 02, 2015 — CYPRESS, Calif. Starting MSRP of only $22,995; a $200 reduction in price from the previous model year The 2016 Outlander features Mitsubishi's new dynamic design language and over 100 engineering and design improvements Mitsubishi Motors North America, Inc. (MMNA) today announced pricing for the U.S. version of the new 2016 Mitsubishi Outlander seven-passenger crossover. With a starting MSRP of only $22,995, the 2016 Outlander has a $200 lower starting MSRP than the previous model year, which is notable when considering the amount of design and engineering improvements incorporated into the vehicle. "The 2016 Outlander has a dynamic new design and a long list of engineering upgrades—it literally looks, drives and feels like an entirely new vehicle," said MMNA Executive Vice President, Don Swearingen.

Mitsubishi NA gets new president and CEO

Last week, we told you that Mitsubishi will be getting a new global president, with Osamu Masuko stepping aside in favor of Tesuro Aikawa. The executive changes at the Japanese automaker are hitting closer to home, now, with official word that Mitsubishi Motors North America is getting a new president and CEO, as well. Effective March 1, Ryujiro Kobashi will take over for Yoichi Yokozawa, 49, who has been in charge since April of 2011. Yokozawa is headed back to Japan, where he will assume a spot in the company's corporate planning offices.
Kobashi, 53, has been with Mitsubishi since 1983 when he was fresh out of college. Previous to taking the top job in North America, he was installed as corporate general manager of the NA office at Mitsubishi's headquarters in Japan, where he coordinated regional operations for the US, Canada and Mexico. Before that, he held posts in planning, marketing, advertising and public relations for the company.
Kobashi takes over the company's North American operations at a pivotal time, when the region is finally showing signs of life after a prolonged period of stagnation. As Automotive News notes, Mitsubishi only sold 62,227 vehicles in the US in 2013, but that figure still represents an eight-percent increase. Its crossovers, the new-for-2014 Outlander and the two-year-old Outlander Sport have been selling relatively well, and the affordable Mirage subcompact is a new arrival at dealers.