Mitsubishi To Cut Rental Fleet Sales, Pursue Corporate Fleets
LOS ANGELES--Mitsubishi North America plans to cut U.S. rental fleet sales by over fifty percent in the next three years, Automotive News reported this week. Michael Tocci, senior vp of sales, distribution, and fleet, told Automotive News the company plans to “vigorously pursue” the more profitable corporate fleet business. Mitsubishi’s non-rental fleet sales are virtually non-existent. According to the 2003 Automotive Fleet Fact Book, Mitsubishi’s 2002-model year registrations for commercial and government fleets total only 653 vehicles. Mitsubishi’s fleet sales were 42 percent of total sales in the first quarter of 2003. Tocci told AN he expects fleet sales to be as low as 12 percent by 2006. The move is to raise dealer profits and help the vehicles retain a higher resale value, reports Automotive News.
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