An executive of Mitsubishi Motor Philippines Corp. (MMPC) sees the potential of the Philippines to become a 1-million market in five to six year.
Takeshi Hara, MMPC president, in a press conference on the sidelines of the company’s 60th anniversary expo at World Trade Center yesterday, the prediction is that total industry volume is to reach 400,00 units “or maybe 420,000 or 430,000 units.”
“In the future, easily we can surpass 500,000. Maybe within the decade, maybe within five or six it may reach one million,” Hara said.
MMPC is eyeing to sell 75,000 units of vehicles this year, garnering 18 percent of market share, according to Jack Ramirez, first vice president for marketing.
These figures are slightly higher than last year’s 60,630 units sold in 2022 equivalent to 16 percent market share.
Hara said the Philippines is an important market for the brand due to its great potential for growth.
He said the company has a great network from sales to after-service but “our business policy is customer-oriented, on how to increase (the number of) loyal customers.”
According to Ramirez, MMPC is ahead of its goal of achieving an 18 percent market share, selling 43,331 units as of July.
Hara also announced the launch in January of the all-new Mitsubishi Triton (formerly Strada).
