OREANDA-NEWS. Mitsubishi Motors Corporation (MMC) announced its sales and financial results for the full 2013 fiscal year (FY2013) ending March 31, 2014.

MMC posted a consolidated net sales of 2,093.4 billion yen over the full term of FY2013 (April 1 through March 31, 2014), a 15% or 278.3 billion yen increase over the same period last fiscal year.

MMC posted an operating income of 123.4 billion yen, an increase of 83% or 56.0 billion yen over the same period last fiscal year. Although sales and R&D expenses increased, these were overcome by steadily progressing reductions in material and other costs in addition to favorable foreign exchange rates.

Other items include ordinary income at 129.5 billion yen, a 38% or 35.6 billion yen increase, and a net income of 104.7 billion yen, a 176% or 66.7 billion yen increase, both year-on-year.

Global retail sales volume for FY2013 totaled 1,047,000 units, a 6% or 60,000-unit increase over the same period last fiscal year. Sales volumes by region were as follows:

Japan: Sales volume totaled 143,000 units for the term, a 7% or 9,000-unit increase year-on-year. Despite a year-on-year downturn in registered vehicles, continuing brisk sales of the June-released all-new eK Wagon and eK Custom minicars as well as the February-released eK Space contributed to the increase.

North America: Sales volume amounted to 97,000 units for the term, a 14% or 12,000-unit increase year-on-year, buoyed by the introduction of the new Outlander and new Mirage models.

Europe: Sales volume totaled 202,000 units, an 11% or 21,000-unit increase year-on-year. The region's year-on-year sales were boosted by factors including positive effects of the introduction of the all-new Outlander PHEV.

Asia: Sales volume came to 344,000 units, a 4% or 13,000-unit decrease year-on-year. Robust sales in China, mainly backed by the strong performance of the GAC Mitsubishi Motors JV, as well as the Philippines and Indonesia, both recording highest-ever sales volumes, contributed in minimizing the overall drop of the region; however, these were not enough to overcome the drop of sales in Thailand, affected by factors such as the lingering negative effects stemming from the end of the government's "first-car buyer" program in December 2012 as well as sluggish demand due to political instability.

Other Regions: Australia, New Zealand, Latin America, the Middle East and Africa all experienced year on year increases for a total of 261,000 units, a 14% or 31,000-unit increase overall.