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News ID: 14338
Publish Date: 10:03 - 18 October 2017
TEHRAN, October 18 - Mitsubishi Motors Corp (7211.T) on Wednesday said it planned to boost revenue and annual car sales by 30 percent in the next three years and crank up R&D.

Mitsubishi Motors eyes 30 percent rise in vehicle sales in three yearsTEHRAN, Young Journalists Club (YJC) - Mitsubishi Motors Corp (7211.T) on Wednesday said it planned to boost revenue and annual car sales by 30 percent in the next three years and crank up R&D investment as the Japanese automaker expands its presence in Asia, the U.S. and China while it draws a line under last year’s mileage cheating scandal.

Announcing its mid-term strategic plan through the end of the 2019 financial year, Japan’s seventh-largest automaker also said it would increase its operating margin to 6 percent or more.

It is also targeting cost savings of more than 100 billion yen ($891.11 million) over the next three years due to development and procurement efficiencies to be created after it became a member of the automaking alliance of Nissan Motor Co Ltd (7201.T) and Renault SA (RENA.PA).

Nissan last year took a controlling stake in Mitsubishi Motors after the smaller automaker admitted it had overstated the fuel economy of some of its domestic models. 

Source:Reuters

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