Mitsubishi Motors Corp. has announced record-breaking retail sales in the Philippines and Vietnam for the fiscal year (FY) 2024, highlighting significant corporate and commercial growth in the region. In the Philippines, the company reported 91,639 vehicles sold, marking a 12 percent increase from the previous fiscal year. This achievement marks the second consecutive year of record sales for Mitsubishi Motors in the country.
Key drivers of the surge include the newly launched Xforce compact SUV and the continued popularity of the Xpander seven-seat crossover MPV, the Mirage G4 compact sedan, and the L300 compact commercial vehicle. Mitsubishi’s market share in the Philippines grew to 19.5 percent, up by one percentage point year-on-year, further cementing the company’s position as a leader in the expanding automotive market.
In Vietnam, Mitsubishi Motors also achieved a significant 44 percent sales growth, reaching 43,065 units, its highest volume in two years. The Xpander emerged as the best-selling model for the year, while the Xforce SUV, launched in March 2024, quickly became a top contender, securing the number one position for two consecutive months starting in July 2024. Mitsubishi’s market share in Vietnam rose to 13.3 percent, up by 2.8 percentage points from the previous fiscal year.
Tatsuo Nakamura, executive vice president of Mitsubishi Motors, attributed the company’s success to over 60 years of experience in the Philippines and more than 30 years in Vietnam. He emphasized the importance of strategic vehicle introductions and the development of strong dealership networks that foster customer loyalty. Looking ahead, Mitsubishi aims to continue expanding its presence in the ASEAN region with the upcoming launch of the Mitsubishi DST Concept production model, which was first showcased in the Philippines.
With record sales, Mitsubishi Motors is poised to further strengthen its foothold in the ASEAN automotive market, underlining its commitment to long-term growth in both the Philippines and Vietnam.
