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THE Philippine unit of Mitsubishi will raise the
price of its Japanese-made Lancer model this month, an official
confirmed last week.
According to Froilan Dytianquin,
Mitsubishi Motors Philippines Corp. assistant vice president for
marketing services, the carmaker would increase the price of its
two-liter Lancer EX sedans in September due to the weak peso vis-ŕ-vis
the Japanese yen, as these units are imported from the Japanese
parent company.
“[This price increase] is due
to the forex [foreign exchange rates], as the yen rose to as high as
about 110 to the peso this year,” Dytianquin said.
The Mitsubishi executive said the
1.6-liter Lancer model imported from Thailand, however, would retain
its current price. Similarly, the carmaker would keep its current
price for its faster-selling sport utility vehicles (SUVs).
Retail prices of the Adventure,
L300 and Fuso trucks may also rise, he said, as dealers cited the
rising cost of raw materials and locally sourced parts. Negotiations
are ongoing for the proposed price hike, he said.
Mitsubishi still assembles these
multipurpose vehicles and trucks in its plants in the Philippines
due to substantial monthly sales of 800 to 1,000 units of the said
models, Dytianquin said. But the company’s local assembly plants
are operating below capacity, he said.
The official said the prices of
Mitsubishi SUVs remain very competitive.
--Ben Arnold O. De Vera
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