Mitsubishi Motors posts record sales in the Philippines for the second consecutive year in FY2024

Photo by Mica de los Reyes

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Mitsubishi Motors Corporation (Mitsubishi Motors) announced that it posted record retail sales of 91,639 vehicles in the Philippines in fiscal year (FY) 2024, an increase of 12 percent from the previous fiscal year. This is the second consecutive year in which it has broken past sales records. Sales volume in Vietnam also rose by 44 percent from the previous fiscal year to 43,065 vehicles, its highest volume in two years following its previous high in FY2022.

In the Philippines, with the impact of the newly launched Xforce compact SUV, sales of the Xpander seven-seat crossover MPV have been strong, while the long-standing popularity of the Mirage G4 compact sedan and the L300 compact commercial vehicle further boosted overall sales. Amid the expanding automotive market, Mitsubishi Motors accounted for 19.5 percent of the market share, an increase of 1.0 points from the previous year.

In Vietnam, the Xpander became the number one best-selling model in FY2024. Furthermore, the Xforce, launched in March 2024, took the number one position for two consecutive months starting in July 2024 and has maintained strong sales ever since. In the robust Vietnamese auto market, Mitsubishi Motors’ market share increased by 2.8 points from the previous fiscal year to 13.3 percent.

“Mitsubishi Motors has contributed to the auto market and economy in the Philippines for more than 60 years, and in Vietnam for over 30 years,” said Tatsuo Nakamura, executive vice president of Mitsubishi Motors. “Through the years, we have earned the solid trust of our customers by introducing strategic vehicles to the ASEAN market and developing dealership networks with high brand loyalty. This fiscal year, we will be launching the production model of the Mitsubishi DST Concept, which premiered in the Philippines last year. We aim to enhance our presence in the ASEAN market and to further expand sales in the Philippines and Vietnam, which are our key markets.”