Mitsubishi Motors plans to boost its North American and European operating earnings by JPY41bn (US$492.4m) by the end of March 2014, media reports said.

The automaker will discontinue region specific vehicles in these markets, Reuters reported, citing business daily Nikkei.

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MMC is expected to report a JPY32bn operating loss in North America and a JPY25bn European operating loss for the fiscal year ending 31 March, according to a medium-term business plan announced last month, the paper said.

The company aims to cut North American red ink to JPY19bn and to lift the European business into a JPY3bn profit in fiscal 2013, the Nikkei said.

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