Wednesday, 06/10/2015 | 11:28 GMT+7

Mitsubishi bought the Ford factory in Philippines

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Mitsubishi Motors has set a milestone in the Philippine auto market when deciding requisitioned a former factory of Ford Motor to raise capacity.

“I am very excited as we continue to produce cars here, even if the market does not grow,” president and CEO Osamu Masuko said.

Factory near Manila – beginners activities 1-2015 in late May – will help increase the production capacity of Mitsubishi in Philippines extra 70% to 50,000 units / year – a move aiming to double sales up 100,000 units / year in 2020.

First, the plant will produce cars Mitsubishi Adventure and L300 vans commerce, then new to the compact model.

In 2013, Mitsubishi sold 49,000 units record the Philippines and market share of 20%.The brand has existed in the Philippines through many ups and downs, while many competitors such as Nissan Motor, General Motors and Ford have repeatedly exit.

The Asian currency crisis in 1997 had dealt a serious blow to the Philippines automobile market, sales fell to 160,000 units annually by half.

With a government that lacks a clear plan to promote the industry, the market Philippine unrecognizable to its full potential.

But Mitsubishi still exist under his vision Masuko has identified Southeast Asia will be the core business of the company.

As a result, the brand Mitsubishi gained a foothold in the market is predicted to increase the size may double to 400,000 units / year in the near future. In the Philippines, Mitsubishi just behind Toyota.

The withdrawal of Ford in some way brought good opportunities for increasing production Mitsubishi. Many cars sold in the Philippines today are imported from Thailand to take advantage of the tax exemption.

But the ability of domestic producers to increase, the greater the base Mitsubishi to develop more if given the Philippine government policies to promote green consumption and vehicle manufacturing operations in the country.

Along with Thailand and Indonesia, the Philippines plays an important role in the strategy of focusing on South East Asia’s Mitsubishi.

The company is pushing the annual production capacity to 500,000 units in Thailand / year, and is currently building a new factory in Indonesia. As for the Philippines, former Ford plant this will be the place to hold the key to success of Mitsubishi

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