MANILA, Philippines - The local unit of Japanese carmaker Mitsubishi Motors Corp. (MMC) aims to hit new all-time high sales of 62,000 units this year as it plans to introduce three new vehicle models.
“For 2015, we estimate total demand is maybe around 300,000 (units) and we would like to keep (our) 20 percent market share. That means 62,000 is the target for us this year,” Mitsubishi Motors Philippines Corp. president and chief executive officer Hikosaburo Shibata told reporters.
Last year, MMPC’s sales hit a record-high of 50,085 units, accounting for 21 percent of the market.
Shibata said the higher sales this year would be supported by MMPC’s current offerings as well as three new vehicle models to be introduced in the market.
At present, the firm sells the following vehicle models: Mirage, Mirage G4, Lancer EX, Lancer Evolution X, L300 cab, L200 cab, L200 FB, Adventure, ASX, Strada, Fuzion, Montero Sport, Pajero as well as trucks and buses.
MMPC, which is set to inaugurate later this month its new plant in Sta. Rosa, Laguna which it purchased from Ford Motor Co., plans to continue the assembly of the L300 and Adventure models there.
The new plant has a capacity of 50,000 units per year, which could be expanded to 100,000 units.
MMPC, which produced 16,000 units at its facility in Cainta, Rizal last year, plans to raise output to 18,000 units at the new plant this year.
While MMC is prepared to pour in P10 billion to increase MMPC’s production capacity and assemble other vehicle models here, Shibata said they are waiting for the executive order (EO) for the automotive roadmap before making any decision.
“Our principal is almost ready to invest, but there is nothing to trigger that. I hope the EO could be the trigger for us,” he said.
To support the automotive industry and position the Philippines as a regional manufacturing hub for vehicles, the government is crafting the Comprehensive Automotive Resurgence Strategy Program.
Under the program, the government is looking to provide fiscal and non-fiscal support amounting to $600 million to industry players.
Should the company decide to assemble new vehicle models here, MMPC vice president for marketing services Froilan Dytianquin told reporters these would be in segments where strong demand is expected such as small cars, sports utility vehicles, pickups, multi-purpose vehicles, vans and light-duty trucks.
Aside from achieving higher sales, the company also intends to expand its footprint in the country by adding five new dealerships to its total count of 48.