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PRESS RELEASE

Mitsubishi Fuso Continues Strong Overseas Expansion in
Second Quarter of Fiscal Year 2004

November 2, 2004

  • Overseas sales increased by 21% in second quarter
  • Overseas sales expected to cross 100,000 unit threshold
  • Strong growth in Asia and Middle East

Tokyo - Mitsubishi Fuso Truck and Bus Corporation (MFTBC) today announced details of its group overseas sales* for the second quarter of fiscal year 2004 (July - September). MFTBC succeeded in expanding its business in every world region. Overseas sales increased by 21% or 4,800 units to 28,000 trucks and buses against the same period in the previous fiscal year. In the first six months of fiscal year 2004, overseas sales increased by 24% to 59,300 units, a plus of 11,300 units.

Bert van Dijk, MFTBC Board member and responsible for International Sales & Services, said: "We are very pleased with our strong sales increase. In the second half of this fiscal year we expect a slower growth due to market fluctuations and the exceptionally strong performance in the second half of the previous fiscal year. Nevertheless, we will cross the 100,000 unit threshold."

Mitsubishi Fuso increased its overseas sales in every market. In the first six months, MFTBC achieved a particularly strong volume growth in Asia and the Middle East:

  • In the Asia region (excluding Japan), group sales went up by 20% to 35,900 units. This represents the largest unit sales increase of all regions (plus 5,900 units).

  • In the Middle East region, group sales increased by 45% to 8,800 units, a plus of 2,700 units.

Mitsubishi Fuso domestic sales (domestic production and exports from Japan) are reported on a monthly basis by automobile associations. Overall, the domestic market contracted by minus 18%. In the first half of fiscal year 2004, Mitsubishi Fuso domestic sales reached 32,400 trucks and buses. The market share of Mitsubishi Fuso slipped by 3.3 percentage points to 25.2% during the first six months. The strong overseas sales were able to counterbalance domestic losses in volume.

In fiscal year 2003, global sales of trucks and buses ran at 193,000 units. Overseas sales of 97,300 units accounted for 51% of global unit sales.

In March 2004, MFTBC became a fully consolidated subsidiary of DaimlerChrysler AG after the rise of its share to 65%. As an integral part of the largest commercial vehicle manufacturer in the world, MFTBC is better positioned than ever to master its current challenges and to compete in the increasingly competitive global truck and bus market

* : Group sales are defined as wholesales at subsidiaries plus shipments to international distributors.

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