Mitsubishi Grew By 7% in 2002
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| Mitsubishi's Outlander is a formidable player in the compact SUV market. (Photo: Trevor Hofmann, Canadian Auto Press) |
Mitsubishi Motors Corp recently announced its plans to spend $200 million USD to expand its plant in Normal, Illinois facility by 25%, resulting in a potential capacity of 300,000 units annually.
The addition forecasts the creation of approximately 300 full-time jobs when it is up and running in late 2004.
President Rolf Eckrodt stated, "Our goal is to produce more vehicles in the markets where they are sold."
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| The Outlander, introduced earlier this year, opens up new midsize opportunities for the Japanese automaker. (Photo: Trevor Hofmann, Canadian Auto Press) |
Why expand when other carmakers are struggling to remain viable? Mitsubishi is doing well with four years of record sales behind them and two all-new car-based SUVs in its lineup, the Outlander compact and Endeavor midsize models. A new Galant mid-sized sedan is expected soon as well, which should boost its fortunes further still.
Mitsubishi showed the highest North American growth among Japanese automakers last year with sales volumes rising by 7% to 345,000 units, much to do with its foray into Canada and Mexico.