Shanghai (Gasgoo)-GAC Mitsubishi Motors Co., Ltd. (GMMC) plans to complete annual sales target of 300,000 units by 2020 and aims to sell 500,000 units by 2025. Senior executives from GMMC showed strong confidence in its future.
In November, sales of the Mitsubishi Outlander took up 72% of the total delivery of GMMC. Thanks to the 2018 Mitsubishi Outlander, the 2018 Mitsubishi ASX and the 2018 Mitsubishi Pajero, GMMC saw sales growth in 2017.
Popular as SUV segment is, GMMC still gives equal priority to both SUVs and NEVs. According to some analysts, the Outlander facilitated the implementation of GMMC's SUV strategy, while the launch of the GAC-Mitsubishi Qizhi PHEV signified the beginning of GMMC's new energy strategy.
In fact, Mitsubishi holds strong competitiveness in NEV segment, and the Outlander PHEV is expected to hit the Chinese market next year, according to insiders from GMMC.
GAC Mitsubishi has been committed to strengthening and improving products, channels and services in recent years. In March, 2017, GMMC's engine factory started construction. Once completed, the new factory will produce 300,000 engines annually. GAC Mitsubishi also planned to expand its annual production capacity by100,000 vehicles with a total investment of RMB 529.8 million.
During 2017, GMMC invested RMB 5 billion (about $761million) to build up an engine factory in Changsha, Hunan Province, greatly reducing the GMMC's dependence to imported engines and further improving the competitiveness of its vehicle products. With these efforts, GMMC is confident enough to achieve its goals in the future.
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