Mitsubishi Achieves 28% Sales Increase in ASEAN during Q1 2018
Mitsubishi Motors Corporation (MMC) reported that its global operating profit increased by 36.4 percent in the first quarter (Q1) of 2018. MMC’s global sales went up from JPY20.6 billion (around PHP9.9 billion) in the same period last year to JPY28.1 billion (around PHP13.5 billion).
The brand’s Asian market, specifically the ASEAN region, contributed to MMC’s positive sales performance during Q1 2018. ASEAN sales went up by 28 percent to 69,000 units. This sales figure were driven by orders for pick-up trucks in Thailand as well as the strong performance of the Mitsubishi Xpander, which was launched in Indonesia last August 2017.
The Xpander’s strong performance in Indonesia helped the automaker to double its market share in the said country. In the Philippines, the Xpander was launched last March 2018 and it had over 1,800 unit reservations in less than 60 days. The Xpander is a seven-seater MPV that’s powered by a 1.5-liter MIVEC gasoline engine that delivers 105 hp and 141 Nm of torque. It also received a four-star safety rating from the New Car Assessment Program for Southeast Asian Countries (ASEAN NCAP). The Xpander is available in four variants with a starting price of PHP885,000.
MMC Chief Executive Officer Osamu Masuko said that the company is determined to continue this positive sales performance.
“In the second year of the current Mid-Term Plan, we have made a good start in line with our goals for both volume and profitability. We will be relentless in achieving our target while making necessary investments for the future growth,” Masuko said.