Locally produced Pajero Sports will be rolled out in the Vietnamese market in late August. Assembly has already begun at a plant on the outskirts of Ho Chi Minh City run by Vina Star Motors Corp., in which the Japanese automaker has a 25 per cent stake.
At present, Mitsubishi sells six models in Vietnam but only makes two there, neither of them SUVs. Making the Pajero Sport locally instead of importing it from Thailand is expected to enhance cost competitiveness.
Mitsubishi currently sells around 2,000 vehicles per year in Vietnam. By increasing to three the number of models produced there, it aims to boost Vietnamese sales by around 10 per cent.
Vietnam's new car market is around 110,000 vehicles per year, which is small compared to neighbors like Thailand and Indonesia. But the market is expected to grow for the medium to long term.
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