Thursday, February 2, 2017
Mitsubishi Motors Philippines Registers 10th Consecutive Year of Growth
Capping off 2016 with yet another record-breaking sales of 61,400 units, Mitsubishi Motors Philippines Corporation (MMPC) posted 13.5 percent growth in sales performance compared to its 54,087 units in 2015. This volume is the highest annual volume MMPC has ever attained. With this volume, MMPC was able to achieve its 10th consecutive year of annual sales growth. Meanwhile, the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) & Truck Manufacturers Association (TMA) reported to have sold a total volume of 359,572 units in 2016, indicating a 24.6 percent growth from 2015. MMPC captured 17.1 percent market share of CAMPI and TMA’s total volume, securing the brand’s number 2 position in the local automotive industry.
The steady growth and notable success of MMPC was reflected from the equally remarkable increase in sales of the Passenger Car (PC), Light Commercial Vehicle (LCV) and Truck & Bus segments. The PC sales, with a total volume of 20,564 units, improved by 14.4 percent from 2015. The sales of the PC was further boosted with the introduction of the upgraded 2016 Mirage hatchback. LCV sales also improved by 12.1 percent with its total volume of 38,916 units. The popularity of the Montero Sport continues to grow with the introduction of the new generation model at the start of the year. Along with the steadfast growth of the other LCV models such as the L300 and Adventure, the All New Montero Sport improved the total LCV sales from 2015 volume.
MMPC truck and bus sales also showed remarkable improvement of 36.8 percent with 1,920 units sold in 2016. Fuso Truck benefited from the change in demand of companies from second-hand trucks to brand new trucks. Customers continue to choose Mitsubishi vehicles because of its class leading specifications, value-for-money and low maintenance.
MMPC is looking forward to another record breaking year in 2017. Firing up 2017 with a high note, MMPC is absolutely on a roll to achieve the 2017 sales target of 75,000 units which is 22 percent increase from 2016 total vehicle sales.
The automotive industry, on the other hand, is projecting to sell around 430,000 to 450,000 units in 2017. Given the aggressiveness of the players, a healthy economic condition, and the increasing demand for brand new vehicles, there is no doubt this target will be met by the end of 2017.
In order to attain the 75,000 unit target, MMPC will maximize the production of its Mirage models under the government’s CARS (Comprehensive Automotive Resurgence Strategy) Program. With the start of local production on February 2017, the company has high hopes of reaching its full potential in sales this year given the increasing demand for entry level passenger cars. At the same time, MMPC has also interesting plans on continuing to enhance its product lineup, taking each model to a whole new level thru introduction of upgrades on its current models and all new models. Customer service is also of high priority of MMPC as it recognizes the importance of customers’ satisfaction in the success of the company. MMPC is optimistic that 2017 will be another banner year for the company.