AUTO INDUSTRY NEWS

Mitsubishi Philippines sales rise by 23.8%

Mitsubishi Philippines sales rise by 23.8% image

Text: / Photos: Brent Co | posted April 21, 2016 16:51

Sales lifted by new Montero Sport, Mirage

Mitsubishi Motors Philippines Corporation (MMPC) registered a double-digit growth of 23.8% as it closed the first quarter of 2016. For the first quarter, MMPC sold a total of 14,688 units, far more than the 11,849 units sold during the same period in 2016.

Meanwhile, the rest of the industry grew by 21.6% for Q1 as reflected on the combined reports of the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Trucks Manufacturer of Association (TMA). The reports show MMPC capturing a 19.2% market share keeping its spot as the second bestselling automotive brand in the country.

For Mitsubishi, passenger cars sales went up by 22% compared to last year's figures with a total of 4,564 units. Light Commercial Vehicles (LCV) also rose by 24.5%. For Q1, MMPC sold 9,754 LCVs. Trucks and buses sales posted significant sales with 27.1% and 60% 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. Furthermore, the Montero Sport remains to be the bestselling mid-size SUV for the first quarter, capturing 42.3% of the LCV sales in the Philippines. 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.

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. 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.