Mitsubishi Motors Celebrates 3 Decades of Investment and Growth in Vietnam

Over the past 30 years in Vietnam, the Mitsubishi brand has achieved significant milestones and is one of the oldest automotive manufacturers in the country, trusted and chosen by a wide range of customers.

Mitsubishi Motors Vietnam (MMV) entered the Vietnamese market in the early years of the renovation period. It was established as a joint venture between TRACIMEXCO, Proton, Mitsubishi Corporation, and Mitsubishi Motors Corporation in 1994, under the name Vina Star Motors. During the period from 1994 to 2018, the company launched several iconic models, including: Jolie, Grandis, Triton, Pajero Sport, Mirage, Attrage, and Zinger. Starting with 5 initial distributors, MMV now has 63 dealerships across the country. In 2015, the company acquired Proton’s stake to increase capital and changed its name to Mitsubishi Vietnam. The automotive joint venture, Vina Star Motors (VSM), officially became Mitsubishi Motors Vietnam (MMV) in June 2016.

Up to now, MMV has introduced dozens of different car models to Vietnamese consumers, many of which have elevated the brand to new heights.

Xpander, officially launched in Vietnam on August 8, 2018, instantly became the nation’s favorite MPV, achieving impressive sales milestones. In 2024, Xpander reached the 100,000 units sold milestone in Vietnam after 5 years. It is not only the most popular MPV in its segment but also one of the best-selling vehicles in the Vietnamese market. With an average annual sales volume of 20,000 units, Xpander is the only MPV to achieve this feat in the over 30-year history of the Vietnamese automotive market.

In the 30-year journey of Mitsubishi Motors in Vietnam, the brand’s position has been further strengthened by models with a real-world, rugged DNA from the Rally racing scene. The Pajero Sport, an off-road-oriented SUV with Super Select all-wheel drive, and the Triton pickup truck, which is not just for work but also for racing, are prime examples.

When the trend for compact high-riding vehicles took off in Vietnam, MMV quickly launched the Xforce model. Specifically, the Mitsubishi Xforce was introduced to Vietnamese customers on January 20, 2024, and immediately achieved impressive sales figures. It consistently ranked among the top 10 best-selling vehicles in Vietnam. According to VAMA statistics, in July, August, and the third quarter of 2024, this B-segment SUV topped the rankings of the 10 best-selling vehicles in Vietnam. In the past 9 months, 9,963 units of the Xforce have been delivered to customers.

In September 2024, coinciding with the 30th anniversary of its presence in Vietnam, Mitsubishi Motors Vietnam set a new sales record by delivering 5,385 vehicles to customers.

After 30 years in the Vietnamese market, with its ups and downs, and having weathered 3-4 economic crises, MMV continues to thrive. In the first half of 2024, the brand sold nearly 15,000 vehicles and currently has some of the best-selling models in Vietnam, such as the Xpander and Xforce. Mitsubishi Motors Vietnam currently holds a 10.6% market share, ranking 6th, alongside Honda, and behind VinFast, Hyundai, Toyota, Ford, and Kia.

TT (Tuoitrethudo)