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Mitsubishi Motors Corporation

Mitsubishi Motors Corporation is a publicly listed auto manufacturer headquartered in Tokyo, Japan. In 2019 it had US$20.9 billion in revenue and sales of over 1.1 million vehicles. Mitsubishi Motors Corporation’s sales are spread across multiple regions. Sales in China are mainly achieved via the company’s joint venture with Guangzhou Automobile Group.

Summary

Mitsubishi Motors Corporation has a performance score of 6.5 out of 20 against a well below 2-degree pathway. This is slightly lower than the company’s 2019 performance score of 7.0, when it was assessed using the less ambitious 2-degree pathway.

Mitsubishi’s already poor low-carbon transition alignment has deteriorated further this year. Given the negative trend assessment result in the previous assessment, and the application of a more ambitious pathway this year, this result could be expected. The company has improved its performance in just three of the nine modules: business model, intangible investment and client engagement.

Performance has worsened for the highly significant ‘sold product performance’ indicators which measure the share of low-carbon vehicles in sales, vehicle in-use emissions, and conventional internal combustion engine vehicle emissions performance. The shift towards higher proportions of SUVs in Mitsubishi’s sales mix is likely to have contributed to this decline in low-carbon transition alignment – particularly in China, where sales of SUVs have more than doubled from just under 64,000 vehicles in 2014 to just over 133,000 in 2019.

Total score: 6.5/20
Assessment Note: Mitsubishi Motors Corporation received a full ACT assessment in 2019.

Performance module name	Performance module score	Rank (0-30)
Targets	0.0 /3	#19
Material Investment	0.0 /0.4	#12
Intangible Investment	1.2 /2.4	#10
Sold product performance	3.3 /7	#16
Management	0.9 /2.2	#14
Supplier	0.3 /1.2	#10
Client	0.5 /0.8	#9
Policy Engagement	0.1 /1.2	#22
Business Model	0.3 /1.8	#13

Mitsubishi has achieved just a very small increase in global sales of low-carbon vehicles between 2014 and 2019 (from 2.5 percent of sales to 3.7 percent). The gap between its actual sales and the low-carbon vehicle sales required under its well below 2-degree pathway is widening rapidly.

There is significant opportunity for Mitsubishi to improve its low-carbon alignment by setting Science Based Targets Initiative-validated targets consistent with a well below 2-degree pathway. Its draft proposals for new targets extending beyond the current reporting year should be confirmed urgently. A far-reaching low-carbon transition plan should also be established and published to hold management to account on driving down in-use fleet emissions.

See results for

2019
2021

More about the company

Headquarters: Japan
Ownership structure: Publicly listed
Revenue (2019): US$20.9 billion
Number of vehicles sold (2019): 1,147,636
Website: https://www.mitsubishi-motors.com/en/index.html