Shanghai (ZXZC)-“If GAC Mitsubishi was established five years earlier, it would have a better development.” Masuko Osamu, CEO of Mitsubishi Motors expressed his pity on the GAC Mitsubishi’s 5th anniversary celebration. In fact, GAC Mitsubishi has a total sales volume of 81,339 units from January to September this year with a year-on-year growth of 199%, far beyond the average growth of domestic auto market. It will easily accomplish the annual sales target of 100,000 units.

Two reasons may account for the CEO’s regret. First, Mitsubishi later entrance into China market made it impossible to cover the complete window and bonus periods of SUV markets. SUV market has an uncertain future under the current dual-credit scheme. Besides, the late coming results in small sales volume. Currently, the annual sales volume of GAC Mitsubishi reaches 100,000 units, far behind from the first class brands.

Masuko Osamu revealed that it will accelerate to introduce products into domestic market in the future five years, while keeping strengths in SUV, four-wheel drives and electric motors. “Chinese market is an important pillar market for Mitsubishi Motors, and GAC Mitsubishi is the key brand for domestic market.” According to Masuko Osamu, GAC Mitsubishi will announce its mid-term plan in the near future.

But he also emphasizes that the steps would be controlled to avoid ever possible setbacks. It’s explained that alternative energy vehicles have not been produced for the immature battery technologies, non-existed charging infrastructure and unclear national policies at that time. “In the future, Mitsubishi plans to invest in EV, PHEV models in the domestic market, but sizes have not been decided yet. “