The Mitsubishi Motors Philippines Corporation (MMPC) on Monday installed a new president and chief executive officer.
During the turnover ceremony, Trade Secretary Alfredo Pascual expressed his appreciation to MMPC's outgoing president, Mr. Takeshi Hara, and welcomed Ritsu Imaeda as the company’s new president and CEO.
Pascual also recognized the country's robust automotive industry as one of the key drivers of the national economy, showcasing the exceptional skills of the Filipino workforce, according to Secretary Fred Pascual.
"For over six decades, MMPC has created employment opportunities for Filipinos, significantly aiding our nation's progress," said Pascual.
Established in 1963 in Cainta, Rizal, and later relocating to Santa Rosa, Laguna, MMPC is distinguished as the longest-operating automotive company in the country.
Its active involvement in major initiatives such as the Motor Vehicle Development Program and the Comprehensive Automotive Resurgence Strategy has bolstered local production and employment opportunities.
The company has also contributed to the country's industrial development through its iconic Mitsubishi models like the L300, Lancer, and Montero, supporting the logistics operations of various Filipino enterprises.
Following the leadership change in MMPC, the government plans to reduce its reliance on imported oil and improve the environment by aligning its industry players with the Electric Vehicle Industry Development Act.
These efforts align with the Marcos Jr. administration's vision to foster a competitive and technologically advanced automotive industry.
The event also underscored the robust economic ties and cultural exchange between the Philippines and Japan, exemplifying a strong partnership that has brought substantial economic benefits and technological advancements to both nations.
"Today, we celebrate not just a transition of leadership but a renewed commitment to innovation and excellence that will drive the future of the automotive industry in the Philippines. Together, we will work towards realizing the vision of a 'Bagong Pilipinas,' where Japanese innovation meets Filipino ingenuity," said the trade chief.
Highest annual sales
Meanwhile, the MMPC said it recorded the highest annual sales volume for the fiscal year 2023 with 81,473 units sold from April 2023 to March 2024.
With this volume, MMPC was able to secure an 18.5 percent market share in the industry, stressing the company's unwavering dedication to providing top-notch products and services for the continuous satisfaction of customers.
Unlike the previous fiscal year, MMPC recorded a significant sales growth of 34 percent from its 60,630 unit sales last FY 2022.
The company said that the Mirage, Xpander, and L300 emerged as the top-selling models, respectively, leading the sales charts for MMPC.
With the higher production capacity of its plant in Sta. Rosa, Laguna, and MMPC were able to locally produce more CKD units and sell 26,139 units of Mirage and 13,101 units of L300. The Mitsubishi Xpander has also been hailed as the best-selling MPV this year with its 24,178 units sales volume, as certified by the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).
While there are many external factors, MMPC's sales growth can be mainly attributed to the competitive promotions implemented, new product and Special Action Models offerings, and strategic marketing campaigns.
"We focused on a customer-centric approach the past years, aiming to provide a wonderful car life experience to Filipinos. We highlighted EXPERIENCE as an important part of a customer's purchasing journey. And we're very grateful to our valued customers, dealers, suppliers, and business partners for their positive feedback on this approach and for their continued support of the Mitsubishi Motors brand," said Takeshi Hara, President & CEO of MMPC.
