The decline in car sales has also affected the Japanese Mitsubishi, which has announced its business results for the first half of 2020. Due to a significant loss of over one and a half billion dollars (1.6), the Japanese manufacturer has decided to halt sales and development of new models for the European market.
The company states that this is a necessary move to rationalize operations and that it will focus all efforts on the most profitable areas. They also announced a new three-year strategy called 'Small but Beautiful', aimed at reducing costs with a focus on the Asian region. Existing models produced for European markets will remain on sale.
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