Mitsubishi to Launch 11 New Models in 3 Years | CarGuide.PH | Philippine Car News, Car Reviews, Car Prices

Mitsubishi Motors reaches an export milestone for its Thai assembly plant. MitsubishiMotors MitsubishiMotorsThailand CarGuidePH

. The product renewal program will coincide with a market expansion drive in the ASEAN region, Oceania, United States, China, and Japan. Under Drive for Growth, Mitsubishi Motors is targeting a market share of 10 percent in ASEAN.During the period of the plan, Mitsubishi Motors will launch 11 new models, of which 6 will be entirely new model changes, averaging two each year, while the remainder will be important updates of existing vehicles.

, and the recent launch of the Xpander multi-purpose vehicle, will drive the growth of the ASEAN business, the group’s largest and most profitable operation. ASEAN volumes are expected to rise from 206,000 units a year to 310,000 units a year in 2019.Mitsubishi Motors will tightly manage production costs, with a target to reducecosts by 1.3 percent per year, in spite of large investments in R&D.

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