Celebrating Three Decades of Mitsubishi Motors’ Investment and Growth in Vietnam

Over its 30-year presence 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, established as a joint venture between TRACIMEXCO, Proton, Mitsubishi Corporation, and Mitsubishi Motors Corporation in 1994. The company was then named Vina Star Motors. From 1994 to 2018, the company consecutively launched notable models such as: Jolie, Grandis, Triton, Pajero Sport, Mirage, Attrage, and Zinger… With an initial network of 5 dealers, MMV now has 63 dealerships across provinces and cities. In 2015, the company acquired Proton’s capital contribution to increase its capital and changed its name to Mitsubishi Vietnam. The automotive joint venture, Vina Star Motors (VSM), officially changed its name to Mitsubishi Motors Vietnam (MMV) from June 2016.

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

Officially launched in Vietnam on August 8, 2018, Xpander immediately became the national MPV with impressive sales milestones. In 2024, Xpander reached the 100,000-unit sales 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 Mitsubishi Motors’ 30-year journey in Vietnam, its position has been further strengthened by models with a real-world, durable 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 of 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 in the following months. Xforce consistently ranked in 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 ranking 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 with 5,385 vehicles delivered to customers.

After 30 years in the Vietnamese market with its ups and downs, experiencing 3-4 economic crises, MMV has continued to grow and develop. 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 10.6% of the Vietnamese automotive market share, ranking 6th, alongside Honda, and behind VinFast, Hyundai, Toyota, Ford, and Kia.

TT (Tuoitrethudo)