After reversing a decision to quit Europe, Mitsubishi Motors now believes it can rebuild its vehicle sales in the region to close to pre-pandemic figures with the help of alliance partner Renault.
Mitsubishi targets annual sales of 130,000 in Europe by 2024, the automaker's European head, Frank Krol told Automotive News Europe, giving the automaker about 1 percent market share.
The goal is about double the company’s predicted final total in 2022 and not far from its 148,248 European sales figure in 2019, according to figures from industry group ACEA.
Most of the sales growth will come from Mitsubishi's new Renault-based models, a new Colt small car based on the Renault Clio and the ASX, which is based on the Renault Captur small SUV, Krol said.
The brand expects European annual sales to be 40,000 for the Colt and 35,000 for the ASX. The automaker will continue to sell established models such as the Eclipse Cross SUV.
"Our heritage is SUV-oriented, so for us the ASX is an important vehicle, but the segment for the Colt is bigger,” Krol said.