Mitsubishi projects 10-20% sales growth in Philippines in 2 years

CEBU, Philippines — Japanese car maker, Mitsubishi Motors Philippines Corporation (MMPC) sees 10-20 percent growth in car sales in the country in the next two years.

This as the company noted a much active market for brand-new car ownership coming from a pandemic-torn economy, said MMPC President and CEO Takeshi Hara.

Hara was in Cebu recently to introduce the brand’s latest release of crossover car, the new Xpander, through a

“Mitsubishi’s Reimagine Your Ride Test Drive” which ran from June 24-26 in SM Seaside City Cebu.

According to Hara, from a weak performance in the last two years, MMPC noted a surprising sales rebound in the recent months, and the momentum is expected to continue, as economic recovery is apparent.

In an interview, Hara said to complement with its positive outlook, the company is expanding its dealership network across the country.

“When we launched the New Xpander a month ago, it doubled as an opportunity for us to reawaken the love of Filipinos for adventure and road trips through this ride-and-drive series,” he said

 While the company is projecting good prospects moving forward, Hara expressed apprehensions of the effects of the supply chain disruptions due to COVID-19 outbreak, saying this could affect the automotive market in general, citing the low supply of semiconductors and chips.

However, with the bouncing economy, MMPC is confident of its two-digit target growth in the next few years, and Cebu, he said is considered as its second biggest growth driver, next to Metro Manila.

According to Hara, Cebu is a very important market for Mitsubishi, “because of the number of the population and the great dealers we have that are groomed to expand our business.”

The Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI) and Truck Manufacturers Association (TMA) released a joint report recently which showed their combined sales reaching 26,370 units in May 2022 higher than the 22,062 units in the same month last year.

On a month-on-basis, CAMPI-TMA’s sales in May rose by 4.9 percent compared to  25,149 units in April, CAMPI-TMA’s passenger car (PC) sales, meanwhile, dipped by 8.4 percent to 6,964 units in May.

Commercial vehicle (CV) sales grew by 34.2 percent to 19,406 units in May from 14,463 units in the same month 2021.