Amsterdam, April 27th, 2007 - Fifteen successful years after their first venture in 1992, Mitsubishi Motors Corporation (MMC), Mitsubishi Motors Europe B.V. (MME) and Rolf Holding, their Russia distributor, have agreed to make this promising market a stand-alone business region. No longer integrated into MME's sales & marketing territory, Russia will therefore report directly to MMC.
Foresight
A pioneer in the Russian market since the early 90’s, Mitsubishi Motors was one of the first to recognize the long-term potential this vast country could offer. Today, turning Russia into a region marks a further pioneering step, ahead of all other manufacturers present in this country.
This bold move also signals MMC’s will to identify and exploit fast emerging markets - where the quality and integrity of its products are definitive assets for local customers.
Number One
Considered right from the start by all parties as a long-term possibility, this decision is the logical conclusion of years of market observation where de facto, Russia and Europe have proved to be very different markets.
It also acknowledges the remarkable work done in this vast and challenging country by Rolf Holding over the last 14 years, starting with a mere 109 cars sold in 1992 to 68,919 for CY 2006.
In this growing and maturing market (economic growth, increase in disposable income, credit-based purchased coming on stream, etc,…), Rolf Holding had sold more than 215,000 Mitsubishis between 1992 and 2006.
Supported by the success of Lancer with upwardly mobile Russian customers, Rolf brought Mitsubishi Motors the “Russia Superbrand 2006” award with Lancer becoming Number One built-up imported car in this country and the Russian “Car of The Year 2006”, both titles won for the second year in a row.
In this respect, customer satisfaction from the Baltic Sea to the Pacific Ocean was a key success factor, demonstrated daily throughout Rolf’s 88 strong dealer network (including “ROLF YUG”, Mitsubishi Motors’ largest dealer center worldwide, located in Moscow and selling nearly 4,000 cars a year !) covering 64 major cities of the country.
Mitsubishi Motors’ growth was also provided through Rolf Holding’s long term strategy and professional sales / marketing / distribution organization, itself backed by a skilled network (with strong bases in Moscow and St Petersburg) and supported by a full integration of the distribution chain, including transport and logistics of cars and parts throughout this immense territory.
Development
Today, with the high(er) volumes at stake, as well as Russia’s product specifics very different from Europe’s (Euro 3 vs. Euro 4, C & D-segment petrol-powered 4-door sedans vs. Diesel B & C-segment 5-door hatchbacks,...) time has come to implement this plan.
Carefully prepared for some time by the three parties, the gradual split from Mitsubishi Motors Europe started on April 1st, 2007, at the beginning of the new fiscal year and will be supported by a team a specialists at MMC.
Commenting on this decision, Tim Tozer, President & CEO – MME said: “In my time at MME, I have taken delight in working with Rolf to grow sales from 30,000 units in CY 2004 to 70,000 units in CY 2006.” Elaborating, he said: “The strategic requirements to develop the our presence in Russia are now very different in product and business terms when compared to Western and Central Europe and as a result, better suited to MMC’s direct management of this market”. He concluded: “ This wholly appropriate decision will allow MME to concentrate upon strengthening our performance in Europe which we are looking forward to doing with the progressive launch of the all-new Lancer from late 2007 into 2008.”
-Mitsubishi Motors
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