Monday, May 23, 2005
Reuters
Mitsubishi loses $4.39 billion in 04/05
Hit by plunging sales in the United States and Japan, Mitsubishi Motors Corp. (MMC) sank deeper into the red last year and projected another year of loss on Monday as it struggles to patch up its brand image.
While other Japanese auto makers are cruising past the competition overseas, MMC is battling a tattered reputation from a high-profile series of recalls and arrests of former executives after it concealed safety-related defects from authorities.
The decades-long practice first came to light in 2000 and resurfaced last year when at least two road deaths were linked to hidden defects in trucks made by its then-unit Mitsubishi Fuso Truck and Bus Corp.
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