The Philippine unit of Mitsubishi Motors Corp. is projecting to sell a total of 75,000 vehicle units in the local market this fiscal year, more than a fifth of its performance in the previous year.
For fiscal year 2022, MMPC sold 60,630 vehicle units, indicating that hitting its target would mean a 24- percent increase in its performance.
“We also had the support of the banks in terms of bank approvals on those three models,” he added when pressed to comment on other growth drivers. “The implementation of the excise tax, that will affect the industry’s volume if they implement that very soon,” he said.Ramirez was referring to the passage of an expanded bill to a tax reform measure formerly called the Passive Income and Financial Intermediary Taxation Act at the House of Representatives in August of last year.
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