The new chief executive officer of Mitsubishi Motors‘ North American operations has denied speculation that the struggling Japanese automaker will withdraw from the US market.

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Rick Gilligan, who was appointed as CEO of Mitsubishi Motors North America on January 4, told Kyodo News the US market will be the key for the automaker to serve as a global player.


The company aims to revive sales by launching three new models over the next year, he reportedly said.


Kyodo News noted that Mitsubishi Motors’ new vehicle sales in the Unites States plunged 37% in 2004 from the previous year.


Gilligan reportedly said the US operations are likely to return to profit by the end of 2006.

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Kyodo News said Gilligan attributed the sharp sales fall in 2004 to a change in its previous sales strategy of price reductions, and said the sales were not affected by a series of recall-related scandals in Japan.