CYPRESS, Calif. (AP) -- Auto maker Mitsubishi Motors Corp. said Friday that it has named Yoichi Yokozawa as president and CEO of its North America unit, effective April 1.
Yokozawa replaces Shinichi Kurihara, who will return to Mitsubishi Motors in Japan. Yokozawa has served as the senior executive vice president of the North America unit since June 2010 and has been with the company since 1998.
Like most of the auto industry, Mitsubishi North America has struggled with slow sales. The Cypress, Calif.-based subsidiary Mitsubishi Motors saw its U.S. market share slip to one half of one percent in 2009 -- the lowest level since 1985, according to WardsAuto.com, a website that tracks auto industry data.
The company's new business plan calls for producing more vehicles to sell in emerging markets such as China and Brazil.