Tokyo, Nov 13: Troubled Japanese carmaker Mitsubishi Motors Corp said on Monday its losses nearly doubled for the six months to September as the company's bottom line was battered by the fall-out from a recall cover-up scandal.Mitsubishi's group net loss totalled 75.6 billion yen ($700 million) in the first half, virtually double the 38.5 billion yen for the same period last year, the company said in a statement.
Interim revenues fell 1.5 per cent to 1.54 trillion yen while pre-tax losses increased from 27.2 billion yen to 29.5 billion yen. Mitsubishi's sales started falling sharply after the company confessed in August it had failed to inform Japan's transport ministry about customer complaints over faulty vehicles since at least 1977. "The company deeply regrets that it has betrayed the trust of its customers and of the general public," Mitsubishi said in a statement.
Mitsubishi said it would concentrate on reform efforts under its new alliance with DaimlerChrysler, which has now become the struggling automaker's major shareholder.
"This now opens the way for the company to roll out a number of collaborative projects," Mitsubishi said.
(PTI)
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