MITSUBISHI Motors Philippines Corp. (MMPC), the second leading automotive maker in the country, is confident it can meet its sales target of 100,000 units in 2020, a company official said on Friday.
“The projection or target sales for 2020 is 100,000 units, so that means about 20 percent of our total sales,” Mikihisa Takayama, president and chief executive of MMPC Auto Financial Services Corp., said at a press conference.
For his part, Dante Calma, vice president for MMPC’s vehicle sales and marketing services group, said that for 2016, the total vehicle sales target is 62,000 units.
“This year, [the target is]a total of 62,000 vehicles sold. That’s roughly around 13 percent to 15 percent up compared to the same period last year,” he said.
Total vehicle sales in the Philippines reached a record 323,928 units in 2015, with MMPC selling nearly 55,000 units. From January to October this year, total automotive sales reached 292,502 units, with Mitsubishi ranked at number two with a 17.18 percent market share.
Calma said MMPC is targeting to sell about 70,000-plus vehicles in 2017. “Now we haven’t finalized yet the ‘plus’ because we still have two months to go,” he said.
The usual driver of growth in the automobile industry is per capita improvement, Calma said. People have more disposable income now so they can now afford to buy a car, he added.
Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for.
MMPC earlier hired 400 new Filipino workers to produce its Mirage vehicles, bringing its total workforce in the Philippines to 1,400.