Doubling China’s dealer network and achieving sales of 220,000 units
First written in FY2018-Q2. 5 of 14 entries say "Advanced", first in FY2018-Q3. Latest entry: FY2024.
No other company in this theme has enough history to compare yet.
- FY2024AdvancedAnnual report
「GAC Mitsubishi Motors Co., Ltd., formerly our group's affiliate in China, was excluded from the scope of equity-method accounting during the fourth quarter of the consolidated fiscal year following the sale of our equity interest.」
The fundamental review of the previous plan to expand China's dealer network and increase sales progressed, resulting in the sale of the equity interest in GAC Mitsubishi Motors Co., Ltd. and its exclusion from the scope of equity-method accounting. - FY2024-Q3Failure to meet the China business plan and concrete steps toward plant suspensionAnnual report
「GAC Mitsubishi Motors Co., Ltd., our group's affiliate in China, sought to recover sales, including by launching a new model in December 2022, but continued to fall short of its plan and had suspended plant operations since March 2023 to adjust inventory. In light of these circumstances, we have now fundamentally reviewed our China strategy and resolved to implement structural reforms.」
The measures to recover sales in the Chinese market fell short of plan, and the company had suspended plant operations since March 2023. The fundamental review of the China strategy and implementation of structural reforms were confirmed in concrete terms. - FY2024-Q2ReframedAnnual report
「In light of these circumstances, we have now fundamentally reviewed our China strategy and resolved to implement structural reforms. In connection with these reforms, we recognized ¥26,230 million in compensation and other costs for related business partners and suppliers as losses related to the China business.」
The framework has changed from the previous policy of expanding China's dealer network and increasing sales to fundamentally reviewing the China strategy and implementing structural reforms. Related losses of ¥26.23 billion were also recognized. - FY2023-Q3Continued decline in China salesAnnual report
「Other China markets: 39 thousand vehicles (down 26 thousand vehicles year on year)」
Cumulative third-quarter sales in other China markets were 39 thousand vehicles, down 26 thousand from the same period of the previous year. Sales have continued to decline against the previous policy of expanding the dealer network and increasing sales. - FY2023-Q2Continued decline in China salesAnnual report
「Total demand in China remains sluggish, affected by parts supply problems caused by the Shanghai lockdown in April and May, semiconductor supply shortages and other factors. In response to the resurgence of COVID-19 that spread across China from the end of March this year, we took measures including strengthening incentives as many dealers were forced to close temporarily and showroom traffic declined. However, sales declined year on year, partly because the Outlander, our core model, was nearing the end of its model cycle.」
Against the previous policy of expanding the dealer network and increasing sales in China, sales have continued to decline due to the Shanghai lockdown, parts and semiconductor shortages, dealer closures and the aging of the core model. Sales in other China markets were 27 thousand vehicles, down 15 thousand from the same period of the previous year. - FY2023-Q1Continued decline in China salesAnnual report
「Other China markets: 11 thousand vehicles (down 10 thousand vehicles year on year)」
Against the previous policy of expanding the dealer network and increasing sales in the Chinese market, sales in other China markets were 11 thousand vehicles, down 10 thousand from the same period of the previous year. The impact of the Shanghai lockdown and parts supply constraints was also cited. - FY2022-Q3Continued decline in China salesAnnual report
「Other China markets: 65 thousand vehicles (down 16 thousand vehicles year on year)」
Sales in other China markets were 65 thousand vehicles, down 16 thousand from the same period of the previous year. Against the previous policy of expanding the dealer network and increasing sales, stagnation has continued. - FY2022-Q2Continued decline in China salesAnnual report
「Other China markets: 42 thousand vehicles (down 8 thousand vehicles year on year)」
Sales in other China markets were 42 thousand vehicles, down 8 thousand from the same period of the previous year. Against the previous policy of expanding the dealer network and increasing sales, stagnation has continued due to the impact of tight supply and demand caused by the semiconductor shortage and other factors. - FY2022-Q1Stagnant sales in the Chinese marketAnnual report
「Meanwhile, in China and other markets, the overall market shifted from the sharp post-COVID recovery seen in the previous fiscal year to sluggish growth due to semiconductor shortages. In addition to broader market trends, we faced challenges such as declining store traffic, resulting in a difficult performance.」
Against the previous plan to expand the dealer network and increase sales in China, sales in other China markets fell by 4 thousand vehicles year on year to 21 thousand vehicles in the quarter, due to sluggish market growth and a decline in showroom traffic caused by the semiconductor shortage. - FY2019-Q2AdvancedAnnual report
「In other areas of China, sales of the locally produced Outlander remained strong, rising 19% year on year to 82 thousand vehicles. Local production of the compact SUV Eclipse Cross began on 6 November (Tuesday), with sales scheduled to begin in late November.」
In China, sales of the locally produced Outlander rose 19% year on year to 82 thousand vehicles, and local production of the Eclipse Cross also began. - FY2019-Q1AdvancedAnnual report
「In China, sales of the locally produced Outlander remained strong, reaching 36 thousand vehicles, up 50% from the same period of the previous year.」
In the Chinese market, the locally produced Outlander performed strongly, with sales rising 50% year on year to 36 thousand vehicles. - FY2018AdvancedAnnual report
「To expand market share, we plan to increase our local sales network to 400 outlets by the end of the fiscal year ending March 2020, and it had progressed steadily to 302 outlets during the consolidated fiscal year. In China, sales rose 55% year on year to 136 thousand vehicles, supported by continued strong growth in sales of the locally produced Outlander, which was launched into local production the year before last.」
China's sales network expanded to 302 outlets against the target of 400 by the end of the fiscal year ending March 2020, while sales rose 55% year on year to 136 thousand vehicles. - FY2018-Q3AdvancedAnnual report
「In China, the locally produced Outlander, which was launched into local production the year before last, has maintained strong momentum and is driving growth, with sales rising 63% year on year to 103 thousand vehicles.」
In relation to the target of 220 thousand vehicles in China sales, the locally produced Outlander maintained strong sales, and China sales rose 63% year on year to 103 thousand vehicles. - FY2018-Q2First statedAnnual report
「In China, we will double our dealer network and increase annual sales to more than double the current level, reaching 220 thousand vehicles by fiscal 2019.」
Regarding the Chinese market, the company has, for the first time, presented a specific growth target of strengthening its dealer network and increasing annual sales to 220 thousand vehicles by fiscal 2019.