At the end of last month, Japanese automaker Mitsubishi Motors announced that it would cut its performance target for fiscal year 20 19/2020 by 60% to1200 million yen (about11300 million US dollars), down 89% from the same period of the previous fiscal year. It is estimated that the net loss during the reporting period will be 26 billion yen (approximately).

In Mitsubishi Motors' view, the "COVID-19" epidemic has become the chief culprit of the decline in performance. Kato Takao, CEO of Mitsubishi Motors, said that the COVID-19 epidemic forced factories around the world to stop production, and the downward demand in the automobile market was the most direct reason for the company to lower its performance target.

Everyone with discerning eyes knows that the "COVID-19" epidemic, which has a great impact on the automobile industry, is not enough to be the decisive factor for the decline of Mitsubishi Motors' performance.

As early as last June165438+1October, Mitsubishi Motors announced that it would reduce its expected operating profit for fiscal year 20 19/2020 (as of March 2020) from 90 billion yen to 30 billion yen, with a reduction rate of nearly 70%, a record of 20/kloc-0. According to the data released by Mitsubishi Motors, the company's operating profit in the second fiscal quarter (July-September) was only 65.438+0.0234 billion yen, compared with 56.864 billion yen in the same period last year, down 82% year-on-year.

In the third fiscal quarter, Mitsubishi Motors' performance declined further. In February this year, the report released by Mitsubishi Motors showed that its net loss in the third fiscal quarter (10- 12) was 144 billion yen, and its operating income was 6.6 billion yen. It set the biggest loss since the second quarter of 20 16. After lowering the expected performance target, Mitsubishi Motors' expected target for fiscal year 20 19/2020 has been lowered by 86.7%. At this time, the "COVID-19" epidemic has no influence on the operation of Mitsubishi Motors.

According to various sources, the weakness of China, the United States and Japan is the fundamental reason for the decline in Mitsubishi Motors' performance.

In 20 19, GAC Mitsubishi sold132,000 new cars, which was 7.9% lower than that in 20 1008. If calculated in the fiscal year of 20 19/2020, the sales volume of GAC Mitsubishi is 1 109 18, down 19% year-on-year. In the first three fiscal quarters unaffected by the "COVID-19" epidemic, the sales volume of GAC Mitsubishi also decreased by 4,800 vehicles compared with the same period of last year.

Sales volume is not high, and it has fallen again. GAC Mitsubishi really failed to provide strong support for Mitsubishi's performance. But the problem is that for GAC Mitsubishi, which has only three main product lines, it can't ask too much.

Today, GAC Mitsubishi official website shows that there are only six models on sale. It also includes new and old models, as well as Qizhi EV, which was born out of GE3. GAC Mitsubishi, which was established eight years ago, only Outlander, ASX Jin Xuan, Yige and Pajero are on the verge of production suspension. The slogan "Start with SUV and make the whole product" has not been fulfilled.

Among the four SUVs, the Outlander launched in the second half of 20 16 became the only model of GAC Mitsubishi. In 20 19, the sales volume of Outlander reached 84,960 vehicles, accounting for 64.3% of the annual sales volume of GAC Mitsubishi. Together, Jin Xuan and Yige only contributed 35%, and the average monthly sales of the two cars were only over 2,000. These three cars contributed almost all the sales of GAC Mitsubishi.

After failing to cooperate with Southeast and Changfeng successively, Mitsubishi Motors finally established a joint venture with more reliable Guangzhou Automobile. However, Mitsubishi Motors, which is holding hands with GAC, still hasn't got rid of the old problems. Due to the slow launch of new products, GAC Mitsubishi's product line has been relatively thin, so that GAC Mitsubishi, which was established eight years ago, still lingers on the edge of the China market. In the last few years of high-speed growth of China automobile market, Mitsubishi has missed the "last bus".

At present, the automobile market in China has passed the period of rapid growth, and the market competition environment is even worse. Except for the head brands such as Volkswagen, which are still strong, most domestic automobile brands have experienced different degrees of decline. GAC Mitsubishi also failed to get special care from the market. In 20 19, the sales volume in Jin Xuan was only 20,000 vehicles, down by more than 70% year-on-year. Another SUV Acura, with an average monthly sales of only 2,000 vehicles, is basically out of 90 in the SUV market.

What is certain is that GAC Mitsubishi will not provide strong support for GAC Mitsubishi's performance in the short term. But no one knows how long GAC Mitsubishi can last.

The vehicle business has little impact, and Mitsubishi's engine business in China is also declining.

In recent years, the technological research and development strength of local automobile brands in China has made great progress. At present, Great Wall, Geely, Changan, Chery and other brands have all changed their own engines. Therefore, the competitiveness of Mitsubishi engine in China market is not as good as before. In 20 19, the production and sales volume of engines in Shen Hang was only 250,000 units, which was 68.75% lower than that in 20 17. Mitsubishi engine, once popular in China, is losing its market.

The cliff-like decline of engine business and the depression of vehicle business indicate that Mitsubishi is paying for its slow technology launch in China.

Due to the decline of engine business, Mitsubishi has started a phased retreat business plan.

It is reported that Mitsubishi has started to sell its shares in Harbin Dongan Automobile Engine Manufacturing Co., Ltd. 15.3%. After the sale, it also means that Mitsubishi Motors will withdraw, and Dongan Mitsubishi System will only have 5.7% shares of Mitsubishi Corporation.

At present, Renault-Nissan-Mitsubishi Alliance has made it clear that China will not become Mitsubishi's main market.

In February this year, Renault-Nissan-Mitsubishi reached a new framework agreement. According to the agreement, the benchmark company of the tripartite alliance in China market is Nissan, and the benchmark company in Europe market is Renault. Mitsubishi has set the Southeast Asian market as the main direction.

This article comes from car home, the author of the car manufacturer, and does not represent car home's position.