Mitsubishi Motors Thailand expects the recovery in the domestic pickup truck market to strengthen in the fourth quarter of 2016, marking the end of a three-year decline.
The company's chief executive officer Morikazu Chokki was upbeat about the short-term prospects for this segment of the market as it unveiled the slightly revised Triton pickup truck range. It aims to lift its share of this segment to 8%, up from 6-7% in recent months.
Including pickup-derived passenger vehicles, the overall Thai market expanded by more than 11% to 252,048 units in the first eight months of the year. The pure pickup segment is still struggling, however, with sales growth of just 0.4% to 210,869 units in the same period.
The company has outperformed in the overall pickup segment (including passenger-derived pickups, or PPVs) so far this year, with sales rising by almost 26% to 25,593 units in the January-August period.
The new Triton range will be officially launched in mid-October, equipped with the MIVEC VG-turbo 2.4L intercooled 181hp diesel engine and priced at between THB489,000-964,000 (US$14,000-27,700).
The company is targeting overall production of 385,000 vehicles in Thailand this year, including passenger cars and SUVs, up by 5.4% on last year.