Saturday, April 23, 2016
Mitsubishi Philippines Sales Grow 23.8 Percent for First Quarter
Mitsubishi Motors Philippines Corporation (MMPC) registered a double-digit growth of 23.8 percent as it closed the first quarter of 2016. From January to March this year, MMPC sold a total of 14,688 units far better than the 11,849 units sold during the same period last year. Meanwhile, the industry registered growth of 21.6 percent for the first quarter as reflected on the combined reports of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Trucks Manufacturer of Association (TMA). These reports also showed that MMPC captured 19.2 percent market share keeping its spot as the second bestselling automotive brand in the country.
With the continued sales surge, MMPC also managed to post significant improvement on all its industry segments. Passenger cars sales is up by 22 percent versus the same period last year with total sales of 4,564 units. Light Commercial Vehicles (LCV) also grew significantly by 24.5 percent. For Q1 MMPC sold 9,754 LCVs. Trucks and buses sales posted impressive improvements with 27.1 percent and 60 percent growth respectively.
Sales for Q1 were driven by strong demand for the Mirage, Mirage G4, recently launched all new Montero Sport, and locally manufactured units such as the Adventure and L300. It is remarkable to note as well that the Montero Sport remains to be the bestselling mid-size SUV for the first quarter. 42.3 percent of the LCV sales is comprised of the Montero Sport sales. The Montero Sport and Mirage G4 are among the country’s top ten bestselling vehicles with the Montero Sport as the number three bestselling vehicle and the Mirage G4 taking the eighth spot. The Montero Sport and the Mirage G4 unceasingly attract the market because of its outstanding features and more importantly the value for money that it offers.
Aside from its extensive model lineup, MMPC’s strong performance is credited to its aggressive marketing efforts combined with more flexible financing options from its bank partners and dealers. MMPC is looking forward on the continuous sales soar given the exciting new model upgrades that will be introduced throughout the year. MMPC also foresees that the election spending will trigger the industry’s growth. With all these, MMPC is strongly optimistic that the industry will remain progressive and targets will be realized or will even be surpassed this year.