|- The Chinese business will double its sales outlets to 400 - |
TOKYO, Oct 13, 2017 - (JCN Newswire) - Growth in China will be a driving force for the global expansion of Mitsubishi Motors Corporation (MMC), the company's chief executive Osamu Masuko said yesterday.
Speaking at a ceremony to mark the fifth anniversary of the formation of GAC Mitsubishi Motors Corporation (GMMC), Mr. Masuko said plans for China will be a central part of the company's forthcoming strategy plan, due to be announced on October 18.
Over the three years of the plan from 2017, GAC Mitsubishi Motors Corporation (GMMC) plans to broaden its offering of sports utility vehicles in China, double the number of sales outlets to 400 and begin local engine production.
Mitsubishi Motors expects the growth of its China business to continue strongly into the 2020s. Within the next several years, it expects Chinese sales to reach 300,000 annually.
The ceremony was held yesterday at GAC Mitsubishi Motors Corporation (GMMC) head office, with employees, suppliers and Mitsubishi Motors' Chief Executive, Osamu Masuko, in attendance.
Osamu Masuko, Mitsubishi Motors' Chief Executive, said:
"In our new mid-term plan, which we are announcing in Tokyo on October 18, we will highlight the Chinese market as a driving force behind our wider growth strategy.
We have already seen successes at GMMC over the last five years with the sales of the Outlander steadily increasing.
We plan to make further investment in China, expanding its sales network and strengthening its current product line-up, showcasing ourselves as a carmaker that excels in the SUV market."
About GAC Mitsubishi Motors (GMMC)
GMMC is a joint venture between Guangzhou Automobile Group, Mitsubishi Motors Corporation and Mitsubishi Corporation. It produces and sells Mitsubishi Motors Corporation (MMC) cars in China.
About Mitsubishi Motors
Mitsubishi Motors Corporation is a global automobile company based in Tokyo, Japan, which has a competitive edge in SUVs and pickup trucks, electric and plug-in hybrid vehicles. The company launched the i-MiEV - the first mass-produced electric vehicle in 2009, which was followed by the OUTLANDER PHEV in 2013 - a plug-in hybrid market leader in Japan and Europe. Mitsubishi Motors has 30,000 employees and a global footprint with production facilities in Japan, Thailand, China, Indonesia, the Philippines and Russia. Models, such as the PAJERO SPORT/MONTERO SPORT, TRITON/L200, OUTLANDER, ASX/OUTLANDER SPORT/RVR and XPANDER play a major role in achieving its growth. The global sales volume in fiscal year 2019 was 1,127,000 units, and the net sales of Mitsubishi Motors for fiscal year 2018 was 2.27 trillion yen. Mitsubishi Motors is listed on the Tokyo Stock Exchange.
Public Relations Department
Source: Mitsubishi Motors
Topic: Press release summary
From the Asia Corporate News Network
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