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Mitsubishi Motors More Than Doubles Mainland China Unit Sales in CY03

- Expanded product lineup, new trim levels for existing models drive sales up -

Tokyo, January 23, 2004 - Mitsubishi Motors Corporation (MMC) today announced that it sold 145,235 vehicles in mainland China during calendar year 2003, a 106 percent surge on 2002.

Leading the growth was the Sigma subcompact (Dingo in Japan), sales of which soared 185 percent on year to 20,339 units. The Liebao (Pajero*) sport utility vehicle (SUV) sold 29,536 units for an 89 percent jump in sales on 2002. Other vehicles showing year-on-year growth include the Freeca SUV -otherwise know as the company's Asia Car- up10 percent to 19,644 units, and the Delica van with 30,392 units, an increase of 3 percent.

On top of increasing sales of existing models, MMC also expanded its product offerings in China in 2003 with two new models: the Lioncel sedan and Pajero Sport which sold 33,647 and 5,804 units respectively. The Mitsubishi-badged Pajero SUV exported from Japan since December 2002 sold 5,622 units for the year. The product offensive continues into 2004 with the introduction of the Outlander crossover SUV, which hit showrooms this month, and the start of exports of the Grandis minivan from Japan later in the year. Plans are also in place to put the Pajero iO into local production in future.

MMC's alliance with DaimlerChrysler is starting to show positive results in China too. On the sales and distribution side, MMC is building a stronger presence through the nationwide alliance dealer network it runs with DaimlerChrysler brands Jeep and Chrysler. As of December 2003, the alliance partners had established 60 outlets throughout the country. On the production side, Beijing Jeep Corporation (BJC) is responsible for manufacturing the Pajero Sport and Outlander, both of which are sold under the Mitsubishi marque.

*Also known as Montero