Japanese carmaker Mitsubishi Motors (Thailand) remains bullish on its domestic sales and export prospects despite the country's overall sluggish car market and its parent company in Japan being mired in a mileage-cheating scandal.
President and chief executive Morikazu Chokki said Mitsubishi expected sales to increase for a second straight year in fiscal 2016, boosted partially by changes to the Pajero Sport pickup passenger vehicle (PPV).
Mitsubishi reported it sold 63,581 vehicles in fiscal 2015 ending March this year, up 8% from the year before.
Last fiscal year, it shipped 302,404 units, down by 5.5%.
Mitsubishi expects to ship 336,000 units both completely built-up and completely knocked-down this fiscal year, up by 11% from a year earlier.
However, Mr Chokki did not offer any forecast on domestic sales growth, only saying the company aimed to boost its market share this year to 9% from 8.7% in the previous fiscal year.
Mitsubishi Thailand operates three production facilities and one engine factory in Laem Chabang Industrial Estate.
Mitsubishi Thailand took charge of local distribution, manufacturing and export in the country in 1987.
Before that, its distributor was Sittipol Motor Co, with United Development Motor Industry Co in charge of Mitsubishi assembly since 1964.
The first factory, opened in 1992, makes passenger cars and PPVs, the second factory (set up in 1996) makes pickup trucks and PPVs and the third factory (established 2012) makes eco-cars.
Founded in 2008, subsidiary MMTh Engine Co makes 502,000 petrol and diesel engines per year.
Thailand's production facilities are the largest production site for Mitsubishi, controlling 30% of the total output of Mitsubishi Motors.
Mitsubishi makes 510,000 vehicles per year at its Thai operations.
Mitsubishi Motors agreed in May this year to sell a 34% stake to Nissan for ¥237 billion (80 billion baht).
The capital infusion would prove a crucial lifeline for Mitsubishi Motors, whose market value fell more than 40% after the company revealed it had overstated the fuel economy of its mini-cars and had been improperly testing its Japanese models for years.
The scandal -- reported to cover almost every model sold in Japan since 1991 -- also included mini-cars produced by Mitsubishi for Nissan as part of a joint venture.
It was Nissan that first uncovered problems with the fuel economy data, but Mitsubishi said Nissan had played no part in the scandal.
Mitsubishi was pulled from the brink of bankruptcy a decade ago after it was discovered that it had covered up vehicle defects that caused fatal accidents.
At the time, the Mitsubishi group of companies stepped in with a series of bailouts to save the company.
According to Mr Chokki, sales of Mitsubishi Motors (Thailand) in the first two months of this fiscal year (April and May) rose by 11.3% to 7,856 vehicles.
However, Mr Chokki said Thailand's overall car market would remain tepid this year thanks mainly to the poor economic conditions and the impact of the government's first-time car buyers scheme.
"It is hard to predict the market trend this year because Thailand is still affected by negative factors, including the new excise tax which comes to force early this year and the unfavourable economic environment," he said.