All about Mitsubishi

On April 24, Mitsubishi Motors announced that it has premiered the new ASX, a compact SUV for the European market, with a refreshed dynamic front face, enhanced connectivity and safety. The new model will be available in selected European markets from June.

The ASX is a two-row, five-seat compact SUV based on the Renault-Nissan-Mitsubishi Alliance CMF-B platform and supplied by Renault. The new ASX will be manufactured at Renault’s Valladolid plant in Spain starting in May.

The ASX's cabin is newly equipped with a Smartphone-link Display Audio (SDA) with a 10.4-inch display. It is also the first Mitsubishi model with Google built-in connected service. A newly developed My Mitsubishi Motors mobile app is adopted as well. Safety features like the Park Assist, Around View Monitor and active safety systems such as the Rear Cross Traffic Alert (RCTA) is also available.

The new ASX comes in a full hybrid (HEV) model, a mild hybrid model, and a gasoline model. The HEV model brings together a 1.6-liter gasoline engine, two electric motors (an alternator-starter and a main motor), an automatic, multi-mode gearbox, and a 1.2 kWh battery. There is also a new E-SAVE mode for driving while saving the battery’s charge for later use. The mild hybrid model combines a 1.3-liter direct injection turbo with a 6-speed manual transmission or a 7-speed dual-clutch automatic transmission, and the gasoline model is available with a 1.0-liter turbocharged gasoline engine and a 6- speed manual transmission.

Mitsubishi Motors press release

Announced on April 22, 2024, Mitsubishi Motors Philippines Corporation (MMPC) noted its best annual sales volume for the FY2023 (April 2023 - March 2024) with 81,473 units sold. This allows MMPC to secure 18.5% market share in the industry. Compared to FY2022 with 60,630 units sold, MMPC posted a growth of 34.4% YoY.

The Mirage, Xpander, and L300 were its top-selling models. With the higher production capacity of its plant in Sta. Rosa, Laguna, MMPC was able to locally produce more CKD units and sell 26,139 units of Mirage and 13,101 units of L300. The Xpander became the best-selling MPV of the year with 24,178 units sold, as certified by Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI).

While there are many external factors, MMPC said the timely introduction of the all-new Triton in January 2024 also contributed to the remarkable sales growth. 

For its FY2024, MMPC aims to maintain the momentum and continue to drive towards further growth and success, driven by its current product lineup and additional new models to be introduced within the year.

(From Mitsubishi Motors Philippines press release on April 22, 2024)

Announced on April 8, 2024, Mitsubishi Motors Corporation and Security Bank Corporation have agreed to conclude a joint venture agreement to establish Mitsubishi Motors Finance Philippines Inc. (Mitsubishi Motors: 51% Security Bank: 49%).

Planned to start operations in FY2025, this new company will offer financing services to Mitsubishi Motors’ customers in the Philippines.

This is in line with Mitsubishi Motors’ aim to concentrate management resources to “Growth Drivers”, or its business regions of ASEAN, to roll out many new models to expand sales volume and revenue.

(From Mitsubishi Motors press release on April 8, 2024)