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Mitsubishi Posts Annual Profit in North America

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Today Mitsubishi posted its first annual profit in North America of the last seven years.

A bellwether of the brand’s slow recovery in this market, Mitsubishi reported selling 117,000 units in North America during its 2014 full fiscal year, marking a 21 percent increase over the same period in 2013. Mitsubishi’s U.S. sales tumbled in 2012 by 27 percent, but climbed in the two years after. Now the company is reporting a small operating profit of $500 milion yen ($4.18 million).

Mitsubishi’s U.S. market share climbed from 0.4 percent in 2013 to 0.47 percent in 2014, thanks primarily to the Mirage city car that accounted for 21 percent of the company’s sales last year. Customers also gave a thumbs up to the Outlander Sport, sold in other markets as the RVR.

Next Mitsubishi plans to introduce a redesigned version of the Outlander for the 2016 model year later this summer with three rows of seating to compete directly with products like the Nissan Rogue.