Mitsubishi bullish on sales growth

MANILA, Philippines — Mitsubishi Motors Philippines Corp. (MMPC) sees sustained sales expansion this year, but at a slower pace compared to last year.

MMPC is expecting sales this year to hit 80,000 units, an 8.7 percent improvement from 2017’s 73,590 units.

“MMPC has made its mark as one of the most important players in the automotive industry. I am told MMPC is targeting to sell 80,000 cars for this year alone,” Japanese Ambassador to the Philippines Koji Haneda said in a speech during the inauguration of MMPC’s new stamping facility in Laguna Thursday.

MMPC’s 2017 sales of 73,590 units were a record of the company, expanding by 20 percent from 61,400 units the previous year.

The company is off to a good start this year with January sales rising 36.7 percent to 6,757 units from 4,942 units in the same month last year.

For the month of January, MMPC continues to be the country’s second largest player with a market share of 21.35 percent behind industry leader Toyota Motor Philippines Corp. (TMP).

TMP, however, is not as bullish this year with their sales forecast as MMPC.

TMP president Satoru Suzuki earlier said the company is anticipating a five to 10 percent decline in sales this year on the back of the implementation of higher automobile excise taxes as part of the government’s first tax reform package.

He said there was a lot of demand last year from custo-mers who were supposed to be buying cars this 2018.

MMPC is set to launch next month the all-new Mitsubishi Xpander which is expected to help boost the company’s sales this year.