Mitsubishi Motors has announced that Mitsubishi Motors Vietnam (MMV) held a ceremony in Ho Chi Minh City, Vietnam on October 8 to commemorate the 30th anniversary of the start of operations of MMV, which is a local subsidiary of Mitsubishi Motors.
Mitsubishi Motors went into business in Vietnam when the country’s automotive industry began taking shape in 1994, partnering with Mitsubishi Corporation and Vietnamese partners to establish the production and sales company that preceded MMV in order to contribute to the development of Vietnam's economy. Along with the automotive market growth in Vietnam, MMV has become one of the key enterprises supporting Mitsubishi Motors’ growth strategy in ASEAN.
In fiscal year 2023, the Xpander, a seven-seat MPV that has been praised by Vietnamese customers for its advanced design and user-friendliness, was the best-selling vehicle in Vietnam, while the Xforce, a compact SUV launched in March 2024, ranked third in its first month of sales. MMV’s sales volume in fiscal year 2023 was about 30,000 units.
These vehicles have continued to enjoy strong sales in fiscal year 2024. The Xpander ranked among the top three vehicles in sales for four consecutive months up to July, and the Xforce was the best-selling vehicle for two consecutive months since July. The new Triton was introduced to the Vietnamese market in September with the aim of achieving further growth in sales volume.
Takao Kato, President and Chief Executive Officer of Mitsubishi Motors, said: "Mitsubishi Motors has been developing together with the Vietnamese market since its automotive industry started taking shape, and it has now become an important base that contributes to our company’s growth. Going forward, we will strive for further expansion in production and sales in support of the development of the automotive industry and the local economy in Vietnam."
