Posts 51% growth for the first four monthsAs the local auto industry's posted strong sales for the first four months of 2010, Mitsubishi Motors Philippines Corporation (MMPC) achieved its highest monthly sales volume last April with 3,004 units. This sales volume is so far the highest monthly volume achieved by MMPC after the Asian crisis of 1997. In addition, MMPC's April 2010 sales volume accounts for a significant increase of 59.4% compared to April 2009's volume of 1,885. For January to April, MMPC has already sold a total of 10,188 units or a 51% growth over the same period last year.
MMPC also posted increases in almost all of the industry categories. Mitsubishi passenger cars grew by 51.6% based on year to date sales given the sales improvement in both Lancer 1.6 and Lancer EX 2.0 models. With its very competitive pricing the Lancer 1.6 continues to attract sub-compact passenger car buyers with its much larger size and it is more equipped with features. Accordingly, MMPC attributes the growth in its Lancer 2.0 EX sales volume as it is now more affordable with the introduction of the MMPC assembled Lancer EX models.
MMPC's Light Commercial Vehicles also increased by a 56.4% compared to the same period last year. With this performance, MMPC was able to achieve 19% market share and maintained its ranking as the 2nd best selling automotive brand in the Philippine automotive market.
This notable growth in MMPC's sales performance can be attributed to its exciting new vehicle line up. The Montero Sport continuously draws interest not only in the SUV segment but also in other vehicle segments, because of its superb handling, features and best value for money. In fact, total sales of Montero Sport grew by 90%, as compared to the same period last year and continue to lead the SUV segment. MMPC also reported increases in sales of its other models such as the Strada pick up (64% growth year to date), Adventure (30%) and L300 (57%) models.
MMPC also attributes its growth attainment to the increase in financing sales given the aggressiveness of banks/financial institutions even for entry level buyers, such as small to medium entrepreneurs and continued consumer and business confidence and increasing OFW remittances.
"We at Mitsubishi Motors Philippines remain to be optimistic given the successful staging of the national elections, we expect that the Philippine economy will be on the upswing which will benefit the auto industry towards full recovery." Mr. Masahiko Ueki, MMPC President & CEO said. "Likewise, MMPC is confident that it will maintain its current strong position in the industry and will continue its upbeat performance given our continuous commitment to deliver quality vehicles and customer satisfaction," Mr. Ueki added.