Mitsubishi Motors Philippines Corp. (MMPC) projects an increase in market share of 25 percent within five years, driven by the strategic launch of the financing company, Mitsubishi Motors Finance Philippines Inc. (MMFP) — a joint venture with Security Bank Corp.
Takao Kato, president and CEO of Mitsubishi Motors Corp., said the MMFP represents a pivotal commercial and operational milestone. “As a first step, we aim to grow our current market share of around 20 percent, but within five years, I would like us to target 25 percent or more,” Kato told reporters during the official launch of MMFP.
MMFP commenced operations in April across five pilot dealerships and now offers financing solutions across all 67 Mitsubishi dealerships nationwide, strengthening MMPC’s retail and customer acquisition capabilities. The firm aims to expand customer access to vehicle financing — a key enabler in the Philippine automotive market, where many car buyers rely heavily on loan facilities.
“This marks a significant milestone in Mitsubishi Motors’ long-standing journey in the Philippines,” Kato added. “With MMFP providing financing services, and MMPC focused on local production and sales, we will continue to grow and serve our customers with excellence.”
MMFP combines Mitsubishi Motors’ strong market presence with Security Bank’s financial expertise. Sanjiv Vohra, president and CEO of Security Bank, highlighted the commercial significance of the JV: “Auto loan growth in 2024 was 50 percent. This partnership enhances our role in the auto financing segment and strengthens our positioning as the preferred financier for Mitsubishi vehicles.”
In 2024, MMPC recorded local sales of 91,639 units, reflecting a 12 percent year-on-year growth, reinforcing the Philippines as one of Mitsubishi’s top-performing Southeast Asian markets.
Satoshi Nakano, president and CEO of MMFP, emphasized the JV’s long-term vision: “Our shared objective is to make car ownership more accessible while enabling Mitsubishi to realize its growth ambitions in the country.”
With MMFP now fully operational, Mitsubishi Motors is poised to consolidate its market leadership and enhance its commercial competitiveness through integrated financing solutions tailored for Filipino consumers.
