TOKYO — Mitsubishi will focus on cutting fixed costs by 20% or more in the next two years after reporting an 89% drop in annual profit, its weakest performance in three years, and skipping its year-end dividend.

The coronavirus crisis has exacerbated Mitsubishi's struggles in a year where Japan's sixth biggest carmaker was already battling falling sales in China and also southeast Asia, its largest market which accounts for one-quarter of sales.

Nissan is committed to introducing its replacement for the aging Rogue crossover in 2020 despite potential complications due to the coronavirus pandemic, the company confirmed early Monday. 

"At this time, our new model launch programs for the U.S. are on track. The all-new Nissan Rogue will be in U.S. showrooms this fall," Nissan said in a statement obtained by Automotive News.