January 24, 2018, 1:26 am
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Mirage production ramped up

Mitsubishi Motor Philippines Corp. (MMPC) said full production of the locally-made Mirage is underway,  hitting 7,500 units produced and sold from the start of the year to date.

Dante Santos, MMPC first vice president, said production will ramp up beginning 2018 to be able to meet the commitment under its P4.7-billion investment in the Comprehensive Automotive Resurgence Strategy (CARS)  to produce 200,000 units in six years.

Santos said on top of the P4.7 billion infused by MMPC, its suppliers are investing another P1.3 billion through technical partnerships with foreign companies and help MMPC achieve its target of  a 50-percent local content of the Mirage.

Santos said by January, MMPC will inaugurate its P2.4-billion stamping plant, the most modern and biggest in terms of capacity, taking the company to the tier 2 level of parts sourcing.

Santos said MMPC expects to start availing of the fixed investment incentive by next year when the budget for the perk shall have been appropriated. By year three, MMPC is expected to hit  the 100,001 unit hurdle to be entitled to the production volume incentives.

Meanwhile, Santos said MMPC is awaiting the decision of the Fair Trade  Enforcement Bureau  (FTEB) on the Montero after complying with the agency’s requirement to submit technical evidence that its pedal is within the  standard measurement. 

“We reported that. But we will have to evaluate the decision when it comes and exhaust all avenues,” said Santos.

Teodoro Pascua, trade undersecretary, earlier said  FTEB recommended a modified decision where MMPC will be asked to recall just the defective part of the Montero Sport and not the entire vehicle.
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