Mitsubishi Motors intends to stay ahead of Chinese competitors in Southeast Asia
Tatsuo Nakamura, executive vice-president of Mitsubishi Motors, told Nikkei Asia in an interview that the Japanese automaker can fend off its Chinese rivals in Philippines, Vietnam, Indonesia, Thailand and Malaysia.
He said that Mitsubishi’s extensive sales and service network of over 680 outlets in Southeast Asia gives the company an edge, and that Mitsubishi cars are better at holding their residual value than Chinese electric vehicles.
In the nine-month period of April to December 2024, Mitsubishi’s market share was 19.3 percent in top-placed Philippines, 13.3 percent in Vietnam and 8.2 percent in Indonesia.
ASEAN, including Thailand and Malaysia, is expected to account for around 30 percent, or 249,000 units, of Mitsubishi’s total projected sales of 848,000 units in the fiscal year ending March 2025. Last year, the automaker produced 450,399 units in Asia, with its factories in Thailand and Indonesia contributing to this figure that made up 48 percent of 2024’s total vehicle production.
Mitsubishi has developed ASEAN-specific vehicles such as the Xpander and Xforce. These SUVs are said to have spacious multi-purpose interiors for big families, tough suspension systems suitable for the rough roads which are common in the region, and enough ground clearance to tackle tropical wet weather and flooding.
Mitsubishi’s electrification of its ASEAN model range is limited to hybrid versions of the Xpander and Xforce, whose high fuel efficiency is what most customers want in a region with far fewer battery-charging facilities than petrol stations.
