Mitsubishi Motors Philippines Corp. (MMPC) closed the first half of 2014 with double-digit growth in sales, marked by higher deliveries of passenger cars (PC) and light commercial vehicles (LCVs).
From January to June, MMPC said it sold a total of 25,066 vehicles, up 17.8 percent compared to the 21,282 units sold during the same period last year.
Data from the Chamber of Automotive Manufacturers of the Philippines Inc. (Campi) and the Truck Manufacturers Association (TMA) showed that MMPC remained one of the dominant brands in the automotive industry with a market share of 23 percent.
MMPC also recorded its highest monthly sales of 4,535 units in June, beating its previous sales record of 4,410 units set in February this year. MMPC’s June sales rose 10.1 percent compared to its May sales of 4,120 units, driven mainly by increased sales in both the PC and LCV segments.
In June, MMPC saw its PC sales increase by 19.6 percent with 1,133 units sold, while growth in LCV sales stood at 8.8 percent compared to May. It said LCVs accounted for the majority of vehicles it sold last month, with a total of 3,054 LCVs delivered.
Of this segment, it said 1,584 Montero Sport vehicles were sold in June, making it the best-selling midsize sport utility vehicle (SUV) and the number one LCV in the Philippines. Its Adventure and Strada sales also improved, with 664 and 316 units sold respectively.
“The sustained sales growth of can be credited to several factors including its extensive product lineup, providing the market a variety of models to choose from,” MMPC said in a statement.
“Locally manufactured Adventure and L300 models remain to be a substantial choice among customers who are engaged in small to medium-scale businesses looking for a vehicle which is reliable and with low operational cost of maintenance,” it said.
“The Mirage and Mirage G4 models were also well received by the market with its platform of being a practical yet a small car loaded with class-leading features and most importantly are fuel efficient,” it added.
The automaker also said the stable Philippine economy and increasing investments in the country “were also contributory factors to the growth of not only the company but as well as to the whole local automotive industry.”
MMPC is confident that sales growth will continue to be strong for the remaining months of the year and supports the latest Campi announcement raising the total industry sales forecast to 250,000 from the original forecast of 230,000 units.
“Given our remarkable and on-track performance for the first semester, it is definite that we will surpass last year’s total sales of 43,176 units. Our goal is to sell more than 50,000 units this year in order to keep at least a 20-percent market share,” MMPC vice president for marketing services Froilan Dytianquin said.
“MMPC is working towards new and greater opportunities in order to achieve the goal of further improving its performance in the auto industry that may also translate to generation of additional jobs and businesses benefiting other MMPC stakeholders,” he added.