Mitsubishi Motors Corporation

New car sales in Japan for the first half of fiscal 2026, from April to September, rose 5.1% year on year to 2,292,064 units, the highest level since fiscal 2020, when sales slumped due to the spread of the novel coronavirus. The abolition of the environmental performance tax on automobile purchases at the end of March provided a tailwind. The figures were announced on the 1st by the Japan Automobile Dealers Association and the National Light Motor Vehicle Association. By category, registered vehicles such as passenger cars and trucks drove the overall increase, rising 9.6% to 1,504,178 units, with notable growth from Toyota Motor and Honda, while Mazda and others that introduced new models also posted gains. Meanwhile, light motor vehicles, which saw few refreshed models or new launches, fell 2.5% to 787,886 units, marking their first decline in two years. Sales for the single month of September, announced at the same time, rose 1.3% year on year to 433,683 units, with registered vehicles up 2.5% for a sixth consecutive month of growth, while light motor vehicles slipped 0.6%; among the latter, Nissan Motor and Mitsubishi Motors posted increases on the strength of new models launched last autumn.

The Ministry of Finance has designated the drive to bring companies in future industries, or the New Economy, onto the Stock Exchange of Thailand as one of the key performance indicators, or KPIs, for three agencies: the Board of Investment, or BOI; the Securities and Exchange Commission, or SEC; and the Stock Exchange of Thailand, through the BOI to IPO project, in order to assess proactive performance beyond their normal mandates. The measure aims to draw foreign capital and operators across the supply chain from upstream to downstream, including advanced electronic components such as PCB and optical transceivers, modern vehicles, smart agriculture, global pet food, and the wellness sector, to raise funds on the Thai stock market. The BOI board meeting on September 11, 2026 approved additional incentive measures, or on-top incentives, for companies that receive investment promotion and list on the stock exchange. New Economy businesses receive an additional three years of corporate income tax exemption beyond the normal criteria, or the option of an additional 50% corporate income tax reduction for five years. General businesses receive an additional two years of corporate income tax exemption, or the option of an additional 50% corporate income tax reduction for three years. From 2023 to June 2026, there were investment promotion applications totaling more than 5 trillion baht in target industries such as semiconductors, PCB, the AI supply chain, digital, clean energy, robotics, and aircraft parts. In the first half of this year, actual investment of more than 500 billion baht already flowed into the economy, and in 2026 alone, four leading Japanese automakers, Isuzu, Mazda, Mitsubishi Motors and Honda, announced additional investments in Thailand worth a combined total of more than 50 billion baht. Asadej Kongsiri, director and manager of the Stock Exchange of Thailand, said the project will create four areas of mutual benefit, or four big wins, covering the business sector, investors, the capital market and the overall economy. The SEC has approved new revised criteria to let target companies enter the fundraising process faster by shortening the track record requirement. Meanwhile, the CMDF fund provides support in the form of a matching fund, subsidizing expenses and fees for IPOs at 7 million baht per company. At the same time, the three agencies agreed to set up a joint task force, with the support framework of the project between the stock exchange and the CMDF set at a total of five years, ending in 2031.

Indonesian new vehicle sales rose 32% year-on-year to 81,756 units in August 2026, up from 61,771 units a year earlier, according to wholesale data from the local automotive industry association Gaikindo. For the first eight months of 2026, the market expanded 20% to 599,491 units, with light passenger vehicle sales up over 13% to 437,374 units and commercial vehicle sales up 42% to 162,117 units, including a 54% surge in light- and medium-duty trucks to 131,813 units. Battery electric vehicle sales nearly doubled to 103,300 units year-to-date from 53,100 units, driven by Chinese brands and government tax incentives. Toyota led the first eight months with sales up 9% to 175,931 units, followed by Daihatsu at 100,884 units, Suzuki at 47,908 units and Mitsubishi Motors at 43,753 units, while BYD jumped 98% to 37,696 units to take fifth place ahead of Honda, which fell 37% to 26,437 units. Overall vehicle production rose 13% to 859,256 units in the period, and GlobalData forecasts Indonesia light vehicle sales to rise 3% to 770,000 units in 2026 from 750,000 units in 2025, easing to 765,000 units in 2027.

Pornchai Theeravej, Director-General of the Excise Department, disclosed that the National Electric Vehicle Policy Committee, or EV Board, has approved in principle a restructuring of the excise tax on electric vehicles to support the industry's transition period. The new tax structure will be divided into three rates: the lowest rate for domestic manufacturers that meet local content requirements, a middle rate for importers that plan to invest in building factories in the country, and the highest rate for importers that only sell vehicles. The highest rate will take effect first, and private-sector representatives from three automotive associations have agreed with the approach but asked for further discussion on the grace period. Lawaron Saengsanit, Permanent Secretary of the Ministry of Finance, said clarity is expected within this September before the proposal goes to the Cabinet. Narit Therdsteerasukdi, Secretary-General of the Board of Investment, said the meeting also approved the appointment of two subcommittees, one on promoting electric vehicle manufacturing and one on developing the electric charging station network, and assigned the Permanent Secretary of the Ministry of Finance to consider additional support for commercial electric vehicles such as buses, electric trucks, and electric motorcycles. The meeting also acknowledged that of new vehicle registrations this year, more than 50% were electric vehicles combined, covering BEVs, hybrids, and plug-in hybrids, with BEVs rising from 0.3% five years ago to nearly 30%, and hybrids at about 23%. Meanwhile, four major Japanese automakers, Mitsubishi Motors, Isuzu, Honda, and Mazda, have announced plans for continued investment in Thailand totaling more than 50 billion baht through 2029 to 2030.

The Board of Investment (BOI) reveals that Japanese investment in Thailand is entering a new phase, building on decades of manufacturing base, extending to investments aimed at upgrading technology, enhancing efficiency, and developing new products to support industrial transformation. In 2025, Japanese investors applied for promotion for 302 projects worth over 113.7 billion baht, more than double the previous year, marking one of the highest investment years for Japan, underscoring Thailand as a second home for Japanese investors. The automotive and parts industry, a key sector, saw applications worth 28.31 billion baht, up 57 percent, while electronics and electrical appliances reached 19.378 billion baht, up 76 percent, agriculture and food 4.069 billion baht, up 54 percent, and logistics and services 1.468 billion baht, more than doubling. BOI Secretary-General Narit Therdsteerasukdi stated that Japan has long been a vital investment partner for Thailand, and investment is now transitioning, focusing on technology upgrades, efficiency improvements, and high-value-added product development to meet global industrial changes. Major projects include Isuzu, which received approval for over 15 billion baht to upgrade its pickup truck production base; Mazda with 7.4 billion baht for MHEV vehicle production; Mitsubishi Motors announcing additional investment of 16 billion baht by 2030; and Honda with 12 billion baht by 2029 to produce two new car models, making Thailand the only country outside Japan where Honda produces a total of eight models. In the first half of 2026, Japanese investors applied for 123 projects worth 32.79 billion baht, reflecting continued confidence.

On September 2, Mitsubishi Motors Corporation held the world premiere of the all-new Pajero in Tokyo, marking the first full model change in 20 years. Initially planned as a PPV (pickup passenger vehicle) based on the Thai-produced Triton pickup truck, the development direction shifted during the process. While the ladder frame and engine utilize Triton technology, they were newly developed exclusively for the new Pajero. The design, guided by the keywords 'dignity, refinement, and purity,' modernizes the heritage of previous Pajero models. Additionally, with the new Pajero as the flagship, Mitsubishi plans to expand its domestic dealership network.

Honda and Nissan have announced a partnership to jointly develop electronic control units (ECUs) and standard software for software-defined vehicles (SDVs), with plans to introduce the jointly developed vehicle architecture in new models starting from fiscal year 2029. This collaboration comes amid intensifying competition from Chinese automaker BYD, which has been expanding its market share with electric and hybrid vehicles equipped with advanced software. The two companies aim to establish common standards for core ECUs, operating systems, and vehicle control software. Meanwhile, Mitsubishi Motors, an alliance partner of Nissan, is considering joining the collaboration. This move builds on discussions that began in 2024 and follows the termination of merger talks between Honda and Nissan over a year ago.

Mitsubishi Motors plans to re-enter the US pickup truck segment through its alliance with Nissan, as part of its Momentum 2030 plan for the US market. The plan, which will guide product and retail changes, was outlined at a confidential dealer meeting. The pickup initiative is part of a broader push to expand Mitsubishi's North American range, with a focus on adventure-oriented and off-road-capable vehicles. Momentum 2030 is built around four areas: electrification, a renewed product range, a modernised retail model, and network growth. Mitsubishi aims to expand its US line-up from four vehicles to six by 2027, including the Outlander Sport, Eclipse Cross, all-new Eclipse Sportback EV, Outlander, Outlander Plug-in Hybrid, and a new rugged Outlander variant. The name of the new Outlander model will be announced in the coming months. Separately, Mitsubishi Motors Corporation in Japan has announced the return of the Pajero, also known as the Montero, but no decision has been made on its US introduction.

Mitsubishi Motors reported a 3% year-on-year increase in global production for June 2026, reaching 73,111 vehicles. Production in Japan rose 4% to 38,028 units, while overseas output edged up 1.9% to 35,083 units. Domestic sales, including imports, climbed 4.2% to 11,715 units, but exports from Japan fell 16% to 15,978 units, with North American shipments down 7% to 9,157 units. For the first half of the year, global production grew 5.2% to 461,142 vehicles, with domestic output up nearly 4.9% to 251,391 units and overseas production up over 5.5% to 209,751 units.

Mitsubishi Motors reported consolidated net profit for the April–June quarter of 2026 rose 91.2% year-on-year to 1.4 billion yen. Despite ongoing headwinds such as heightened tensions in the Middle East, flexible sales activities and profit improvement measures paid off, securing a profit. Global sales volume fell 8% to 179,000 units, with the Middle East situation accounting for a 15,000-unit impact, but this remained within the range assumed at the start of the period. President Keisuke Kishiu said the impact on operating profit was about 10 billion yen, and the impact centered on logistics costs exceeded roughly 2 billion yen. The company left its full-year consolidated earnings forecast for the fiscal year ending March 2027 unchanged, with a net profit forecast of 25 billion yen, below the average analyst estimate of 30.1 billion yen.

Mitsubishi Motors North America announced that the 2027 Mitsubishi Eclipse Sportback EV will offer multiple charging options, including standard NACS compatibility for Tesla Supercharger access and a J1772 plug for Level 1 and Level 2 charging. The electric subcompact SUV can fast-charge from 10% to 80% in approximately 35 minutes at up to 150 kW using Level 3 charging. It features a standard 75 kWh liquid-cooled lithium-ion battery pack. The vehicle will be sourced from alliance partner Nissan Motor Co., based on the next-generation Nissan LEAF, and is set to launch across North America in fall of 2026.

Mitsubishi Motors is partnering with robotics startup Highlanders, which originated from the University of Tokyo, to develop and mass-produce AI-powered humanoid robots on an industrial scale, targeting a production capacity of 1,000 units per month by the end of 2027. Mitsubishi Motors will leverage its advanced manufacturing expertise to co-develop bipedal robots with Highlanders, aiming to help address labor shortages. The company will deploy the humanoid robots on engine production lines at its Kyoto plant to gather data essential for industrial-scale development and manufacturing. Mitsubishi Motors CEO Takao Kato said Japan will pioneer the industrial mass production of humanoid robots, while Highlanders CEO Hiroya Matsuoka noted that no Japanese company has yet been able to compete with global leaders in physical AI, and expressed a desire to push the technology to the next level.

Mitsubishi Motors will invest Bt16bn, equivalent to $473.23m, in Thailand by 2030 to support the country’s electric vehicle transition. Thai government spokesperson Lalida Perisvivatana told Reuters the funding will go into EV technology, with the automaker evaluating options for manufacturing and exporting pickup trucks and developing an electric Pajero SUV, using Thailand as the production hub. The investment comes as Japanese carmakers face pressure from the rapid expansion of Chinese EV brands in Southeast Asia’s second-largest economy, which already hosts major manufacturers including Toyota, Honda, and BYD. In April, Thailand approved Bt15bn in investment proposals from Isuzu Motors, the country’s second-largest vehicle producer, while Chinese EV maker Xpeng Group is exploring plans for a local manufacturing facility.

Mitsubishi Motors announced it has signed a basic agreement with Highlanders, a startup from the University of Tokyo, for the joint development of humanoid robots. This marks the first time an automaker and a humanoid robot developer have collaborated on mass production. Mitsubishi Motors has already invested in the company and plans to make additional investments going forward. The two companies will jointly develop humanoid robots for use in Mitsubishi Motors' factories, and aim to begin mass production of Highlanders' products in 2027 by utilizing idle buildings at the Kyoto Seisakusho Kyoto plant. Mitsubishi Motors will leverage its expertise in mass production design, quality assurance, durability and safety design, and electromechanical integrated control technology for mass production, accumulate usage data and operational know-how through robot deployment in its own factories, and explore the potential for humanoid robot development and production.

Mitsubishi Motors North America reported second quarter 2026 sales of 23,127 vehicles, a nearly 5% increase year-over-year. SUV sales drove the growth, rising nearly 24% for the quarter, led by Outlander with 9,503 units sold, up 21.5%, and Outlander Sport with 8,432 units, up 69.7%. The company attributed the gains to new, well-equipped trims at attractive price points, including the Outlander LE and Outlander Sport S, as well as Trail Edition models. Looking ahead, Mitsubishi is preparing to launch the refreshed Outlander Plug-in Hybrid and the all-new Eclipse Sportback EV, its first full battery electric vehicle since the i-MiEV, later this year.