Mitsubishi to discontinue Pajero from next year; stock falls over 10%

Japan's No. 6 automaker anticipates an operating loss of $1.33 bn

Shares of Japan’s Mitsubishi Motors Corp plunged more than 10 per cent to an all-time low on Tuesday after the automaker posted dismal sales in its key Southeast Asian market and forecast a huge loss for this financial year.

A day earlier, Mitsubishi Motors, a junior member of the auto alliance of Nissan Motor and Renault SA, projected an operating loss of 140 billion yen ($1.33 billion) for the year ending on March 31, 2021, due in part to the coronavirus pandemic.

It would be the automaker's biggest loss in at least 18 years, according to records dating back to 2002. Mitsubishi’s