Following the last fiscal year’s record performance, Mitsubishi Motor Philippines Corp. (MMPC) aims to grow its sales by another 15 percent in the current fiscal year ending March 2025.
The company, however, appeals to government for the inclusion of hybrid and plug-in electric vehicles (EVs) in the tariff exemption to enable the industry develop the market for this greener alternative.
Cesar Ramirez Jr., first vice president for sales and marketing of MMPC, told reporters at the turnover of the new head of the company in Taguig City Monday night, sales are expected to reach 94,000 units this fiscal year from 81,473 units the previous year. That is equivalent to 18 percent market share and an increase of 34 percent from its 60,630 units sales in 2022.
Ramirez said at this level, MMPC is expected to account for 20 percent of the target of the industry of 470,000 units.
Ramirez added MMPC also produced record volume of the Mirage (hatchback and sedan) and L300 at its plant in Laguna at 41,598 units in the previous fiscal year with the highest monthly volume recorded in March 2024 at 5,231 units.
Ramirez expects the Triton pick-up, launched in January, to contribute to the growth this year, with sales targeted at 1,000 units a month.
MMPC will also launch in June its small sport utility vehicle Xforce which is targeted to attain 10 percent of the segment.
Ramirez said top selling model, Xpander, will continue to retain its top position in the small multipurpose vehicle this year, maintaining sales of 2,200 units a month. Last year, Xpander accounted for 45.6 percent of the market.
Mirage, which sold 24,000 last year, is targeted to sell 2,000 monthly. The model attained 33.3 percent market share in the previous fiscal year.
L300 also remains market leader in the multipurpose van with 43.6 percent market share with sales of 13,100 last year or more than 1,000 units a month.
Imelda Brown, MMPC FVP for corporate, meanwhile said the company joins industry in its position to have plug -in hybrid and hybrid EVs included in lifting of tariffs to make this type of vehicle more accessible to customers, generate interest and develop the market.
Brown said the Electric Vehicle Industry Development Act is neutral on all types of EVs.
“The definition is not limited to (pure) EVs and also includes hybrid and plug-in hybrids. Regardless on the type of EVs, they contribute to fuel efficiency and reduction of greenhouse gas emission,” Brown said.
MMPC said its plug-in hybrid, the Outlander, has yet to fully
“We are hoping if there is a good policy, there is reason to bring in and sell more plug-in hybrid (vehicles). Definitely, we are watching market,” Brown said.
MMPC on Monday introduced its new president and chief executive officer, Ritsu Imaeda, replacing Takeshi Hara.
