Loss-making Mitsubishi Motors said on Monday it planned to enter the Iranian market by the end of this month in a bid to revive itself by boosting sales in overseas markets.
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According to Reuters, MMC, which is battling a tattered reputation from a high-profile series of recalls and arrests of former executives after it concealed safety-related defects, said it aimed to sell 700 Pajero [Shogun/Montero] sport utility vehicles in Iran by March 2006.
“Our brand image is good in Iran,” an MMC spokeswoman told the news agency, pointing to the company’s 10 Paris-Dakar Rally championships. “Demand for SUVs is also high in the country.”
Noting that MMC’s sales at home have been hit hard by the scandal, plunging 37% in the year ended in March, and that its global sales fell 14% in the same period, Reuters said the company expects global sales to rise 4.3% to 1.37 million units in the current business year to March and aims to boost its sales in overseas markets, where its brand image has been less affected by the scandal.
MMC, 13% owned by DaimlerChrysler, assemble the vehicles in Iran from CKD kits, the spokeswoman reportedly said.
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