Mitsubishi Motors Philippines raises 2010 sales forecast

Montero Sport, ASX to drive growth
by Anna Barbara L. Lorenzo | Aug 30, 2010

Mitsubishi Motors Philippines, the second best-selling brand in the country, has raised its sales forecast for the year following the strong performance of its vehicles in the past seven months.

Company president and chief executive Masahiku Ueki said Mitsubishi now expects sales to rise by roughly 30 percent from 2009 sales of 23,247 units.

“At the beginning of the year, we were targeting 26,000 units. Now we’re looking at around 30,000 to 31,000,” Ueki told TopGear.com.ph.

The Montero Sport continues to be the strongest model in Mitsubishi’s lineup, with sales averaging at 1,000 units a month and it currently ranks next to the Toyota Vios in total industry sales.

Mitsubishi assistant vice president for marketing and sales Froilan Dytianquin said other best-selling vehicles from Mitsubishi include the Adventure, with average sales reaching 500 units each month; the L300, 400 units; and the Strada, 350 units.

The Japanese carmaker is also banking on the ASX crossover vehicle to further boost the brand’s sales. Ueki said Mitsubishi expects to sell an average of 100 units of the ASX each month for the rest of 2010.

Latest data from the Chamber of Automotive Manufacturers in the Philippines showed Mitsubishi sold 18,504 units from January to July, 42 percent higher than the company’s sales in the same period last year.

Mitsubishi currently holds 18.9 percent of the Philippine market, which is still dominated by Toyota. Toyota recently revised its sales forecast and it now expects to sell 57,000 units this year, up from last year's sales of 46,193 units.

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