MITSUBISHI MOTORS AUSTRALIA MAKES 19 MLN DLR LOSS
<Mitsubishi Motors Australia Ltd>
(MMAL) reported a 19.64 mln dlr net loss in calendar 1986 from
a 5.80 mln dlr profit in 1985 on turnover of 837.79 mln dlrs
from 942.89 mln.
    MMAL, 99 pct-owned by Mitsubishi Motors Corp <MIMT.T> and
Mitsubishi Corp <MITT.T>,  said a tight market meant it had
failed to recover 19 mln dlrs in costs sustained because of a
weak Australian dollar.
    The company said its Magna car dominated its market segment
with sales of 30,500 units against 26,900 in 1985. Total sales
were 64,100, down 15,900.
    In addition, export of components to Japan increased with
15 mln dlrs invested in 1986 to expand output of aluminium
cylinder heads to 26,000 per month from 6,000, MMAL said.
    Imported passenger car, light commercial and heavy vehicle
sales suffered while local-manufacturing profitability was
eroded by sales substantially below production capacity, it
said.
    Australian car sales fell to 530,000 in 1985 from 696,000
in 1985, although MMAL said it lifted its market penetration to
12.1 pct from 11.5 pct.
    No dividend was recommended.
 REUTER
