Mitsubishi Motors Philippines Corporation
Mitsubishi Motors Philippines Corporation

Press Release

Mitsubishi Motors Philippines banners five years of consecutive growth

Mitsubishi-Motors-Philippines-endures-industry-challenges-2012

Mitsubishi Motors Philippines Corp. (MMPC) ended 2011 recording its fifth consecutive annual sales growth and fifth consecutive increase in market share, keeping it as one of the top automotive brands in the country. From 2006 until 2011, MMPC’s sales growth has also exceeded what the total automotive industry achieved for the same 5 year period.

Meanwhile the local automotive industry closed 2011 with a decline of 3%, registering sales of 165,056 units based on combined reports from Chamber of Automotive Manufacturers of the Philippines (CAMPI), Truck Manufacturers Association (TMA) and Association of Vehicle Importers and Distributors (AVID) members. The decline in sales was triggered by supply challenges that the auto industry faced last year which was brought about by the natural calamities hitting more than a few significant countries in the automotive world. The earthquake and tsunami that had hit Japan during the first quarter of 2011, and the massive flooding in Thailand had affected the auto industry supply chain to fall apart from the expected demand.

In spite of these difficulties MMPC still managed to improve its sales with modest growth of 1% as compared to 2010. MMPC was able to achieve total sales of 32,603 units for 2011. With these figures, MMPC was able to capture 20% market share, keeping it as the second best selling automotive brand in the country.

Increases in several segments were also reflected in MMPC’s 2011 performance. The Light Commercial Vehicle (LCV) increased by 2.5% while its Fuso trucks and buses increased by 12.7%. The growth in MMPC LCV sales was contributed primarily by increase in the Strada, Montero Sport, ASX, Pajero, Adventure and L300 models.

Throughout 2011 MMPC was also able to keep its industry position and recorded several notable achievements. Last year, MMPC was able to top several segments such as the SUV segment with the combined sales of Montero Sport and Pajero of 12,210 units, and also the Strada as No.1 double cab pick up with sales of 4,216 units or 27.7% share of the double cab pick up segment.

MMPC’s remarkable sales performance can be credited to its continuous effort to provide the market with a refreshed and extensive vehicle line-up coupled by aggressive and attractive sales promotions. Likewise the introduction of the upgraded Montero Sport and Strada powered by Variable Geometry Turbocharged (VGT) engine during the first quarter of 2011 has instantly captured its target market and contributed on MMPC’s sales feat. Both models continue to attract more and more customers not only because of its combined appeal and superb performance brought about by its powerful VGT engine but also by the high value for money proposition it offers to customers especially with added technology enhancements such as the multi-information and multi-media system equipped on some of its variants. To date, MMPC has already sold a total of 33,515 units of Montero Sport since its introduction. Aside from the upgrades of these bestsellers, MMPC also expanded its LCV line up by introducing L200 Single Cab pick up and cab chassis which is targeted for fleet and business use and also a taxi version of the Adventure which has been approved and accredited by the Land Transportation and Franchising Regulatory Board or LTFRB as an alternative replacement model for the existing vehicle fleet of taxi operators.

For 2012, MMPC is optimistic that it will further improve its sales volume and market share as it is projecting a growth of 12% compared to its 2011 sales performance or 36,500 units. The increase will eventually come from year model enhancements and new variant introduction of its existing vehicle line up which will further excite the market. MMPC also expects to improve its passenger car sales with the introduction of its Global Small car or the Mitsubishi Mirage which made its debut in last year’s Tokyo Motorshow. The Mirage is expected to easily gain market acceptance considering its outstanding fuel economy and top of its class features.

In addition, MMPC is also looking at further expanding its sales network with additional outlets to growth areas which will contribute to its total projected sales volume for this year. MMPC will open up additional 3 more outlets this year to bring its total number of outlets to 49.

“This year MMPC is geared not only on working at its best to achieve its projected sales volume but is also dedicated in improving its after sales and customer service”, Mr. Hikosaburo Shibata, MMPC President and CEO said. “For 2012 MMPC will continue to bring in more vehicles that will respond to the need for a quality vehicle for every lifestyle and at the same time environment friendly, this integrates our commitment of providing utmost driving pleasure and safety to our valued customers and our community”. “MMPC will further work on the expansion of its dealership network to make quality vehicles and services available to every valued customer anywhere in the Philippines”, Mr. Shibata added.

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