Mitsubishi Motors Philippines Corporation
Mitsubishi Motors Philippines Corporation

Press Release

Mitsubishi Motors Philippines records 7% growth for first four months of 2011

Mitsubishi Motors Philippines Corp. (MMPC) records 7.4% growth for the first four months of the year with total of 10,945 units sold. Based on the combined reports from the Chamber of Automotive Manufacturers of the Philippines Inc (CAMPI) and Truck Manufacturers Association, MMPC posted increases in several industry categories, such as in the light commercial vehicles (LCV) where it increased by 9.3% with 10,238 units sold and in the trucks segment where its Fuso truck sales also increased by 72%. Given these sales figures, MMPC remains the second best-selling automotive brand in the country as it captured 22.8% market share.

MMPC credits this favorable performance to the strong demand on its best seller models such as the Montero Sport and Strada pick up models which recently had its upgrade with the variable geometry turbo technology which has significantly improved its performance and value for money proposition.

Accordingly the sales of the locally produced Adventure and L300 models are very well sustained by the summer high season trend. Adventure sales increased by 18.4% with sales of 2,469 units while the L300 sales also increased by 13.2% with 1,972 units sold.

Regarding reports of effects of the Great East Japan Earthquake on Japanese automakers, there is limited effect to MMPC’s production. “The parts shortage in Japan brought about by the devastating earthquake and tsunami last month has less impact to us especially for our CKD models such as the Adventure and L300 which comprises 40% of our total sales.” Mr. Hikosaburo Shibata, MMPC President and CEO said. The Adventure and L300 which are produced in MMPC’s Cainta plant have high local content of more than 50%.

“And for CBU models coming from Thailand, so far we are getting continuous supply.” Mr. Shibata added. MMPC imports the Montero and Strada from Thailand and contributes around 50% to MMPC sales.

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