TOKYO — Mitsubishi Motors on Thursday announced an 84% year-on-year decline in its first-quarter operating profit, a sign of the “unprecedentedly challenging conditions” that followed U.S. President Donald Trump’s imposition of a 25% tariff on cars in April.
The Japanese automaker’s operating profit fell to 5.6 billion yen ($35.5 million) in the April-June quarter, in part because of a 14.4 billion yen tariff impact. The company does not have a car assembly plant in the U.S., making it reliant on foreign production bases for sales in that market.
