Mitsubishi Motors slashes 03/04 earnings outlook

Newswire

TOKYO, July 24 (Reuters) - Mitsubishi Motors Corp said on Thursday it was slashing its group net profit forecast for the current year to 10 billion yen ($84.21 million) from 40 billion yen, hit by extra loss charges at its North American unit. Japan's fourth-largest automaker, owned 37 percent by German-U.S. auto giant DaimlerChrysler AG , also said it had revised its recurring profit outlook for the year that began on April 1 to 35 billion yen from 65 billion yen. ($1=118.75 yen)

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