Mitsubishi Motor Philippines Company (MMPC) is eyeing a 15-percent sales growth in 2024 to 94,000 vehicles from 81,473 units in 2023.
MMPC vice president for marketing Jack Ramirez attributed the projected growth to the company’s newest pick-up model, Triton, which expected to sustain its leadership in the truck/pick-up category.
“This is actually our target for fiscal year 2024-2025 that starts April and ends March of every year. We only launched Triton in January, so it only contributed two months worth of sales for the previous FY,” he said.
He said the previous model, which the company had retired, was not able to gain sales volume because it was on a depletion phase.
MMPC said it would introduce another vehicle model in June 2024, which is expected to keep the company’s market share at sustained levels.
MMPC expects to sell 2,000 Triton units in 2024 and over 24,000 units of Mirage and Mirage G4. The small SUV Xpander is estimated to account for 10 percent of the company’s sales this year.
MMPC said it achieved its highest annual sales volume in FY 2023, securing an 18.5-percent market share of the local automotive industry.
It said that compared to FY 2022, MMPC saw a 34-percent growth, driven by the continued popularity of the Mirage, Xpander and L300 models.
Increased production capacity at its Santa Rosa, Laguna plant enabled MMPC to manufacture more completely knocked down (CKD) units, resulting in sales of 26,139 Mirage and 13,101 L300 units.
The Mitsubishi Xpander sustained its dominance as the Philippines’ best-selling MPV with an impressive 24,178 units sold, as certified by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI).
“We focused on customer-centric approach the past years, aiming to provide wonderful car life experience to Filipinos. We highlighted experience as an important part of customer’s purchasing journey. And we’re very grateful to our valued customers, dealers, suppliers, and business partners for their positive feedback on this approach and for their continued support to the Mitsubishi Motors brand,” said outgoing MMPC president and CEO Takeshi Hara.
MMPC welcomed its new company president and CEO Ritsu Iameda in a turnover ceremony Monday night.