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Mitsubishi Motors Announces Momentum 2030, North American Five-year Business Plan
Mitsubishi Motors North America, Inc. (MMNA) has announced its forward-looking business plan, "Mitsubishi Motors Momentum 2030". The plan, which extends through fiscal-year 2030, was revealed to dealer partners at a national meeting in Nashville, Tenn., on May 14. The initiative aims to advance the company's presence in the U.S. market.
The Momentum 2030 plan outlines four key points. Firstly, MMNA will focus on vehicle electrification, incorporating advanced-technology internal combustion engines, hybrids, plug-in hybrids, and battery electric vehicles. This diverse powertrain strategy aims to meet various customer needs and regulatory requirements.
Secondly, the company plans to introduce one new or completely refreshed vehicle each year between fiscal 2026 and fiscal 2030. This will include two all-new vehicles in segments where Mitsubishi currently does not compete. By 2030, MMNA's vehicle lineup in the U.S. is expected to nearly double from its current four models.
Modernized Retail Sales Model
The third key point focuses on modernizing the retail sales model. MMNA aims to integrate more technology into the sales process to cater to younger, tech-savvy customers. This includes new retail concepts that will define the look and feel of future dealerships.
Additionally, MMNA plans to expand its dealer network to cover more sales markets across the U.S. This expansion is expected to increase the company's sales numbers by making Mitsubishi vehicles more accessible to a broader customer base.
Commitment to Dealer Partners
MMNA reconfirms its commitment to dealer partners and the dealership sales model. The company plans significant investments in both people and production across North America. Some vehicles will be produced locally using Alliance assets, further boosting Mitsubishi's investment in the region.
"Mitsubishi Motors is at a pivotal point in North America," said Mark Chaffin, MMNA president and CEO. "Momentum 2030 will set the stage for new powertrains and vehicles being introduced, new dealerships being opened, and new technologies being developed."
Future Outlook
The plan also aligns with Mitsubishi Motors Corporation's (MMC) Midterm Plan – "Challenge 2025". MMC aims for a sustainable carbon-neutral future with goals of reducing vehicle CO2 emissions by 40 percent and operational CO2 emissions by 50 percent by 2030. Additionally, MMC targets global sales of electrified vehicles at 50 percent by 2030 and 100 percent by 2035.
MMNA's headquarters are located in Franklin, Tennessee, with corporate operations in California, Georgia, Michigan, New Jersey, and Florida. The company operates through a network of approximately 330 dealer partners across the United States.
Chaffin concluded the dealer meeting by stating, "The next 10 years will be great for this brand. MMC is making a significant investment to ensure our collective future."
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