Mitsubishi Motors has announced that its net profit from April to June decreased by more than 90%, largely due to the impact of the Trump-era tariffs. The company’s Vice President, Kentaro Matsuoka, mentioned that they need to strategize on how to mitigate the significant financial burden caused by the tariffs.
The net profit for Mitsubishi Motors during this period was approximately 700 million yen, a sharp drop from 29.4 billion yen in the same three months last year—representing a 97.5% decrease. This substantial reduction was influenced by the strong yen and the tariffs imposed in April.
Mitsubishi exports all its vehicles for the U.S. market from Japan, and the additional tariffs have resulted in a financial hit of 14.4 billion yen. Although there is an expectation that the automobile tariffs will soon be reduced to 15%, Mitsubishi has yet to account for this anticipated change in its future performance forecasts.
by MagazineKey4532