Distributor for Mitsubishi Motors Corporation Automobiles Established in Myanmar

Dec 15, 2015 13:31 JST

Source: Mitsubishi Motors

TOKYO, Dec 15, 2015 - (JCN Newswire) - Mitsubishi Corporation (MC) is pleased to announce the establishment of a new joint venture company, MM Cars Myanmar Limited (MMCM), with Yoma Nominee Limited (YNL), for the distribution (wholesale), retail sales, after-sales services, and maintenance services of motor vehicles and spare parts manufactured by Mitsubishi Motors Corporation. YNL is a part of Serge Pun & Associates (Myanmar) Limited enlarged group of companies (SPA Group). MMCM will start operations once the necessary licenses for doing business in Myanmar have been approved.

Distributor for Mitsubishi Motors Corporation Automobiles Established in Myanmar

MC and YNL will each hold 50 per cent shares in MMCM, and it will serve as the official distributor of automobiles manufactured by Mitsubishi Motors Corporation. The joint venture will also provide sales and after-sales services, including the establishment of a showroom and spare parts warehouse in Yangon.

Since the Myanmar government announced a relaxation of vehicle import regulations in 2011 as a part of their democratization policy, the number of used vehicles from Japan has seen a notable increase, making Myanmar the number one destination for used vehicles from Japan in 2014. Import regulations for new vehicles have also been gradually eased since 2012 and in 2015 the Myanmar government announced the approval of new vehicle imports and sales by joint ventures established between foreign companies and Myanmar local companies. These developments are expected to generate further growth in the Myanmar vehicle market.

Until the establishment of MMCM, SPA Group companies had been providing after-sales services to MMC's existing customers through service shops set up in Yangon in May 2013, and in Mandalay in December 2013. With the establishment of MMCM, MC aims to further increase new motor vehicle sales and improve customer satisfaction through the enhancement of after-sales services in Myanmar.

MC has strategically positioned Myanmar as one of its key targets among emerging markets and is jointly exploring business opportunities in Myanmar together with Yoma Strategic, including an elevator-related business, a tyre business, and the operation of Mandalay International Airport. Drawing on the experiences and know-how cultivated in the ASEAN region, MC is seeking to contribute to the further development of the automotive industry in Myanmar, particularly in the vehicle distribution business.

Contact:

Public Relations Department
http://www.mitsubishi-motors.com 
+81-3-6852-4275

Source: Mitsubishi Motors
Sectors: Automotive

Related Press Release

Mitsubishi Motors Posts Record Sales in the Philippines in FY2023

April 24 2024 12:56 JST

All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating

April 18 2024 08:22 JST

Mitsubishi Motors Celebrates Production of 100,000th fully electric minivehicle

March 22 2024 14:34 JST

Mitsubishi Corporation, Mitsubishi Fuso Truck and Bus, and Mitsubishi Motors will jointly establish a new company to run an online platform providing comprehensive EV related services

March 13 2024 17:06 JST

Triton and Xforce win iF DESIGN AWARD 2024

March 06 2024 16:34 JST

National High School in the Philippines Built with the Support of Mitsubishi Motors Holds Opening Ceremony

February 20 2024 10:15 JST

Mitsubishi Motors Begins Exports of Xforce from Indonesia

February 05 2024 16:21 JST

Xpander and Xpander Cross HEV Models Premiere in Thailand, Featuring Safe, Secure and Exhilarating Driving Experience of Electrified Vehicles

February 01 2024 18:02 JST

Mitsubishi Motors to Begin Production of the New Minicab EV Electric Commercial Vehicle in Indonesia, the First Local Production of the Vehicle Outside Japan

December 19 2023 16:12 JST

Delica Mini Wins 2023-2024 Japan Car of the Year Design Award

December 08 2023 20:07 JST

More Press release >>

Latest Press Release

Mazda Production and Sales Results for March 2024 and for April 2023 through March 2024
Apr 25, 2024 18:21 JST

MHI Begins Operation of SOEC Test Module the Next-Generation High-Efficiency Hydrogen Production Technology at Takasago Hydrogen Park
Apr 25, 2024 17:45 JST

GAC Honda to Begin Sales of All-new e:NP2, the Second Model of e:N Series
Apr 25, 2024 16:50 JST

Toyota Exhibiting at Beijing Motor Show 2024
Apr 25, 2024 16:25 JST

Honda Reaches Basic Agreement with Asahi Kasei on Collaboration for Production of Battery Separators for Automotive Batteries in Canada
Apr 25, 2024 11:10 JST

UNIQLO Sponsors KAWS + Warhol Exhibition Tour, Starting in Pittsburgh
Apr 25, 2024 09:00 JST

Mitsubishi Power Begins Commercial Operation of Seventh M701JAC Gas Turbine in Thailand GTCC Project; Achieves 75,000 AOH To-Date
Apr 24, 2024 17:19 JST

MC and Denka Sign J/V Agreement in Fullerene Business
Apr 24, 2024 17:02 JST

Mitsubishi Motors Posts Record Sales in the Philippines in FY2023
Apr 24, 2024 13:56 JST

NEC Develops High-speed Generative AI Large Language Models (LLM) with World-class Performance
Apr 24, 2024 13:25 JST

Fujitsu SX Survey reveals key success factors for sustainability
Apr 23, 2024 10:25 JST

Fujitsu and METRON collaborate to drive ESG success: slashing energy costs, boosting productivity with new manufacturing industry solutions
Apr 22, 2024 16:09 JST

NEC Strengthens Commitment to Space Industry with Investment in Seraphim Space Venture Fund II
Apr 22, 2024 15:09 JST

Soft Space Launches the First and Only JCB Payment Gateway in Malaysia
Apr 22, 2024 15:00 JST

TOYOTA GAZOO Racing takes a one-two in Croatian thriller
Apr 22, 2024 10:47 JST

First-ever Mazda CX-80 Crossover SUV Unveiled in Europe
Apr 19, 2024 13:50 JST

Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces
Apr 19, 2024 10:17 JST

Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas
Apr 18, 2024 17:01 JST

Toyota Launches All-New Land Cruiser "250" Series in Japan
Apr 18, 2024 13:39 JST

Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan
Apr 18, 2024 11:14 JST

More Latest Release >>