Mitsubishi Motors Continues Global Recovery With 18% Sales Growth In Calendar Year 2018

January 30, 2019 by Mitsubishi

•Annual sales up 18% to 1.22 million in CY 2018

•Overseas sales reach 1,114,286 units, up 19% vs CY 2017

•Japan, Europe and North America all experience double-digit percentage increases

•ASEAN region sees 322,284 sales, up 35%, following success of new XPANDER

Mitsubishi Motors Corporation (MMC) has revealed strong sales figures for CY 2018, with volumes up by 18% to 1,218,897 units. The figures prove the company still has strong momentum behind its V-shaped recovery plan, with double-digit percentage increases in both domestic and overseas markets.

New products including the Mitsubishi Eclipse Cross SUV and revised Outlander PHEV saw sales in Japan grow from 91,630 to 104,611 – an increase of 14% versus CY 2017. Overseas sales were 1,114,286, an increase of 175,452 units and up +19% on the year.

Export markets also showed strong growth, with the United States up 14% to 118,075 units and Western Europe rising 19% to 178,414. Particular highlight was a 64% increase in France (to 7,303 units). Eastern Europe saw the greatest percentage growth – an increase of 79% versus CY 2017, in particular Russia with 45,391 sales, up 87% from the previous year.

As a region, it was the ASEAN business which saw the greatest rise with 322,284 sales, up 35% versus 2017. Indonesia was the main driver of this growth, with 146,805 sales – a massive 84% increase pushed by the success of new XPANDER compact multi-purpose vehicle. Mitsubishi Motors opened a new assembly plant in Indonesia during 2017 to build the new model. This success builds on the strong growth in 2017 too, meaning sales in Indonesia have risen by 118% in the past two years.

Other strong performances came from Thailand, with sales up 21% to 84,560, Vietnam (+60% to 10,969) and Malaysia (up 32% to 9,261).

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Trevor Mann, Chief Operating Officer, Mitsubishi Motors 'Our strong performances in 2018 are proof that our Drive For Growth plan to lead Mitsubishi to a sustainable recovery is working. We continue to be exceptionally strong in ASEAN region, and are also seeing pleasing growth in other key markets as new products reach customers and our SUV and EV offerings become increasingly relevant and attractive.''