Mitsubishi sets 40,000 sales target

MANILA, Philippines - Mitsubishi Motors Philippines Corp. (MMPC) is targeting record-high sales of 50,000 units by 2015, from not less than 40,000 units this year as it launches new vehicles, officials said.

“By 2015, our goal is (for sales) to break 50,000 units,” Taizo Furuhashi, MMPC executive vice president for marketing said during the celebration of the firm’s 50th Anniversary Monday night.

For this year, he said MMPC is aiming for sales to reach not less than 40,000 units.

Hikosaburo Shibata, MMPC president and chief executive officer told reporters the sales goal for 2015 is the highest target so far with its all-time high sales last seen in 1996 when it sold 36,500 units.

MMPC sales last year reached 34,915 units.

Shibata said MMPC aims to achieve higher sales as it expects demand for cars to rise given the country’s strong economic growth.

He said higher sales this year would be supported by its subcompact hatchback Mirage which was launched last year.

The firm is currently selling between 700 to 800 units of the Mirage per month, well-above its target of 500 units per month.

“Demand is increasing for the Mirage...Many are still waiting for the units to arrive,” Shibata said.

He said demand for small cars like the Mirage is not only rising in the Philippines but also in other parts of the world as these are more affordable, especially for the younger individuals.

He said the firm is likewise planning to add new passenger cars to its current vehicle line-up to support higher sales.

The firm announced earlier it is expanding its production operations in the country by pouring in $20 million for the production of new transmission assembly by its subsidiary Asian Transmission Corp. in Laguna next year.

The firm is still studying what new vehicle models could be produced here as it looks to increase its vehicle assembly operations to 50,000 units in two years or 100,000 units in five years.

MMPC’s assembly plant which is located in Cainta, Rizal has a production capacity of 15,000 units per year on one shift.