Mitsubishi Motors introduces new models in Myanmar
Published on Wednesday, 09 October 2013 20:51
Japan-based Mitsubishi Motors Corporation (MMC) announced yesterday that it would sell its brand new cars in Myanmar.
MMC is entering the Southeast Asian country's automobile industry with its local partner to sell Thailand-made pick-ups (L200). Its service centre was launched in May.
Used cars manufactured by MMC have already won some of the market share in Myanmar, an emerging market in Asia. MMC aims to expand its market share here.
MMC is a subsidiary of Mitsubishi Corporation, which was established in 1970. Currently valued at Y 657 billion (about Ks 6.54 trillion), it produces vehicles and machinery parts mainly for industrial and agricultural use. Last year, it sold Y 1.87 billion worth of products.
MMC's local partners, FMI and Yoma Strategic, are subsidiaries of Serge Pun and Associates (SPA), owned by Serge Pun. FMI is a leading conglomerate in Myanmar, with nearly 47,000 shareholders.
Established in 1992, SPA has been investing in Myanmar's banking, property, tourism, and automobile industries, etc.
Source: http://www.news.myanmaronlinecentre.com/2013/10/10/mitsubishi-motors-introduces-new-models-in-myanmar/
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