Mitsubishi Motors forecasts 140 bln yen full-yr loss due to falling car sales

Credit: REUTERS/EDGAR SU

Japan's Mitsubishi Motors Corp on Monday forecast an operating loss of 140 billion yen ($1.33 billion) in the year to March as the automaker continues to struggle from a fall in demand for cars due in part to the coronavirus pandemic.

TOKYO, July 27 (Reuters) - Japan's Mitsubishi Motors Corp 7211.T on Monday forecast an operating loss of 140 billion yen ($1.33 billion) in the year to March as the automaker continues to struggle from a fall in demand for cars due in part to the coronavirus pandemic.

Japan's No. 6 automaker also said that, as part of its restructuring plan, it would stop producing its Pajero SUV crossover model in the first half of 2021, and close the plant in central Japan which makes the vehicle.

Mitsubishi reported a 53.3 billion yen operating loss in the first quarter, after vehicle sales more than halved between April and June from the previous year.

($1 = 105.4700 yen)

(Reporting by Naomi Tajitsu, editing by Louise Heavens)

((naomi.tajitsu@thomsonreuters.com; +81364411078; Reuters Messaging: naomi.tajitsu.thomsonreuters.com@reuters.net))

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