The Philippines could hit the 1-million mark in vehicle sales within the decade, Mitsubishi Motors Philippines Corp. (MMPC) president and chief executive officer Takeshi Hara said. At the press conference of MMPC's 60th anniversary at the World Trade Center in Pasay City Thursday, Hara said this will make the Philippines one of the most important markets for the Japanese carmaker. 'In the future, (it's) easy we can surpass 500,000 (unit sales). Maybe within the decade, maybe within five or six (years), it may reach 1 million,' he said. With this, MMPC aims to increase its market share in the country to 18 percent this year from its market share of 16 percent in 2022. 'We're aiming to hit at least 18 percent. So far, year-to-date, we're ahead of that now,' MMPC Field Operations Group first vice president Jack Ramirez said. Ramirez said this would translate to at least 75,000 units sales for 2023, or around 24 percent higher than the 60,630 vehicles sold last year. 'Philippines is one of the most important markets actually -profit wise, volume wise, service and manufacturing. So because of that, this country has great potential for growth,' Hara said, noting the country's population and economic performance. MMPC has already produced over 800,000 units in the Philippines and selling 1.2 million vehicles in the past 60 years.

Source: Philippines News Agency