Mitsubishi 2003 Annual Report Download - page 33

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MMC plans to continue to operate the NedCar European production facility with Volvo Car until the existing contract
expires in 2004, after which time manufacturing activities at the facility will be conducted jointly with DC. Production of the
New Compact Car being developed jointly with DC is slated to commence at the NedCar facility from 2004.
Construction of a new engine plant in the German state of Thuringia, to be operated by MDC Power GmbH, a 50/50
MMC-DC joint venture, is slated to finish in December 2003. This plant will manufacture gasoline engines for MMC’s small
compact cars sold in Europe, as well as for DC smart.
ASIA AND OCEANIA
CHINA
Total market sales in China soared 38% year-on-year in 2002 to 3.28 million units. MMC recorded local sales of 92,000 units,
an increase of 109% relative to the previous year. Beijing Jeep Corporation (BJC), a local manufacturer in which DC owns an
equity stake, began production of the PAJERO SPORT in March 2003. This became the first MMC model to be produced
locally in China and sold under the Mitsubishi badge. MMC’s presence in the Chinese market will be further enhanced
through this kind of operational synergy with DC’s local partner with the commencement of production of the OUTLANDER
in early 2004. MMC’s strategy is to develop a strong lineup of local products through similar arrangements.
TAIWAN
Total auto sales increased 15% in 2002 to 380,000 units, representing the top market share. MMC’s sales in Taiwan through
local sales affiliates, China Motor Corp. (CMC), rose 26% year-on-year to 91,000 units.
THAILAND
Total auto sales rose 38% in 2002 to 399,000 units. MMC’s sales in Thailand through local sales subsidiary, MMC Sittipol Co., Ltd.
(MSC), rose 35% to 32,000 units. Due mainly to a volume increase in pickup trucks, exports from Thailand rose 14% to 90,000 units.
PHILIPPINES
Total auto sales increased 12% in 2002 to 84,000 units. However, in a fierce competitive environment, MMC’s sales in the
Philippines through local sales subsidiary, Mitsubishi Motors Philippines Corporation (MMPC), fell 4% to 16,000 units.
31 MITSUBISHI MOTORS CORPORATION