Mitsubishi Reports 54% Decline in Production for January 2009

Japan's Mitsubishi Motors Corporation announced on Wednesday an alarming plunge in production for January, a sign that the worst may yet be to come. The firm's total global production came in at 53,339 units, a steep decline of 53.9 percent over January 2008 and the eleventh consecutive monthly decrease since March 2008.

Mitsubishi said that production volume in Japan was down 65.0 percent at 25,392 units, as a 67.7 percent decrease in passenger car and a 40.3 percent decline in commercial vehicle output saw year-on-year output fall for the third consecutive month.

The automaker's overseas production volume totaled 27,947 units, 35.3 percent down over January last year and the eleventh consecutive monthly decline. By region, output in North America was down 66.5 percent as production levels were adjusted for slow sales in the United States. In Europe, output was 20.3 percent down again due to sluggish sales in the region.