MANILA, Philippines - Mitsubishi Motors Philippines Corp. (MMPC) is looking to grow its sales this year at its fastest pace in six years on the back of new product launches, including the new generation of the infamous Montero Sport.
Kenichi Horinouchi, Mitsubishi Motors Corp. general manager of Asia and ASEAN office, said MMPC would attempt to sell 70,000 units this year, a 29.4 percent growth from 2015 sales of 54,087 units.
The sales target would be MMPC’s fastest growth since recording a 39.5 percent sales jump in 2010.
“The target is really challenging. We are backing on new models. Aside from the all-new Montero Sport, we will have new upgrades on our current models like the Mirage, and of course our Strada. We will also soon be introducing a new SUV which we cannot yet divulge. That will support the volume,” MMPC first vice president for marketing Froilan Dytianquin said.
Dytianquin said election spending is also expected to provide a boost to the company’s sales this year.
“It’s an election year. Election year normally provides double digit growth for the automotive industry and that is evident in the 2010 and 2013 national elections. We’re banking on that situation where there will be some demand for mobility especially during the campaign period. We have utility vehicles like L300, our L200 pickups, the Strada, and Adventure, which are usually the ones sought after during this campaign periods,” he said.
For 2015, MMPC’s sales grew by eight percent year-on-year on the back of continued demand for its popular models like the Mirage and L300.
“The Mirage grew fast because of Uber. There was a temporary demand for Uber which is why sales of small cars grew very fast. The demand is still continuing now and our dealers are still expecting more applications,” Dytianquin said.
MMPC on Wednesday night launched in the country the all-new, third generation Montero Sport.
MMPC officials said it is a completely different vehicle from the previous Montero Sport models currently undergoing investigation in the country due to alleged cases of sudden unintended acceleration (SUA).
“We believe this all new model is going to be a standout in its class and it is really a different model from the previous one. It may be affected considering the brand, but given the specifications, the features, and the outstanding styling of the Montero Sport, we are confident will be able to again dominate the SUV segment of the market,” Dytianquin said.
Dytianquin said MMPC is targeting to sell this year some 18,000 units or about 1,500 units a month of the all-new Montero Sport.
Last year, he said the company sold around 12,000 units of the previous Montero model.
“We will be selling in parallel the current model given the wide price gap of the new and previous model. Price gap is actually very wide. We are actually on the depletion of the current model,” Dytianquin said.
On the entry level, the all-new Montero Sport is priced starting at P1.5 million while the previous model’s price begins at P1.1 million.
Meanwhile, MMPC said it is still finalizing its application to the government’s Comprehensive Automotive Resurgence Strategy (CARS) program.
MMPC together with Toyota Motor Philippines are currently the only manufacturers which have indicated interest in joining the program.
“We have two months to go before we commit to the CARS program. We need that to be able to determine also what model considering the volume that this program demands,” Dytianquin said.
MMPC officials declined to disclose further details on their planned application, including the model it will enter and the investment amount it will pour in.