MANILA, Philippines – Mitsubishi Motors Philippines Corp. (MMPC) has raised its sales target to more than 45,000 units this year as it expects strong demand for the Mirage subcompact hatchback and the new Mirage G4 sedan.
MMPC president and chief executive officer Hikosaburo Shibata told reporters during the launch of the Mirage G4 on Thursday evening the company now expects its total sales to reach more than 45,000 units this year, higher than the previous goal of 40,000 units.
“We are confident we will achieve historic record…because Mirage (subcompact hatchback) is very accepted and we have this G4,” he said.
As of end-September, MMPC has sold 31,306 vehicles.
Sales of the automaker hit an all-time high in 1996, when it sold 36,500 units.
In 2012, MMPC sold 34,915 units.
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The Mirage subcompact hatchback launched by MMPC last year has allowed the firm to register higher sales.
Shibata said MMPC is also upbeat the Mirage G4 would enable the company to see an increase in sales this year given the market’s good reception of the new vehicle model.
He noted that MMPC has already received more than 1,000 pre-orders for the Mirage G4 since Sept. 2.
The firm aims to sell 1,000 units of the Mirage G4 per month.
The new vehicle model, which is imported from Thailand, is available in GLS and GLX variants and in both continuous variable transmission and five-speed manual transmission.
Shibata said the new vehicle is targeted for the young population or young families.
“The Mirage G4 is very affordable and fuel-efficient,” he said.
The price of the Mirage G4 starts at P578,000, while the top of the line costs P718,000.
MMPC assembles three vehicle models at its plant in Rizal. These are the L300, Adventure and Lancer EX.
Asked if MMPC intends to produce other vehicle models here, Shibata said the firm needs to wait for the roadmap for the automotive industry to be released before making a decision.
He said the firm would want to get incentives from the government to be able to produce more vehicles here.
Trade Secretary Gregory Domingo said earlier the Department of Trade and Industry may grant incentives to firms which meet a minimum volume of production of 40,000 units per model per year.
Shibata said that while the minimum production volume is high for now, it may be possible to meet that in the future as vehicle demand here is expected to rise along with the growth of the economy.
As for the introduction of hybrid or electric vehicles here, he said MMPC would also want to wait for the government to enact into law the Alternative Fuel Vehicles Incentives Act.