MITSUBISHI MOTORS ANNOUNCES MOMENTUM 2030, A FIVE-YEAR BUSINESS PLAN FOR CANADA

• Electrification will advance with a blend of powertrains – hybrid, plug-in hybrid, battery electric
• One new or completely refreshed vehicle to debut each year between fiscal 2026 and fiscal 2030
• New vehicles to be introduced across more segments

MISSISSAUGA, ON, May 15, 2024 – Mitsubishi Motor Sales of Canada (MMSCAN) announced this week details of its forward-looking business plan.

Mitsubishi Motors Momentum 2030 outlines business and product plans that start immediately and run through fiscal-year 2030. The plan was first revealed to the company’s 97 Canadian dealer partners in a national dealer meeting on Tuesday, May 14 in Nashville, TN, where it was met with considerable enthusiasm and excitement.

MMSCAN President and CEO Kenji Harada called the event the most important meeting in the history of the company in Canada.

“Over the past three years, Mitsubishi Motors in Canada has been building a foundation for the future,” said Harada. “Along with our dealer partners, we have invested in our infrastructure and in our people, and changed our digital marketing strategy so that we’re ready to offer a better-than-ever customer experience. This work has made us ready for a more competitive future.”

The Mitsubishi Motors brand has been steadily growing in Canada, but saw record achievements in fiscal 2023 with a 62% increase in total sales. MMSCAN and its dealers sold 37,165 vehicles in fiscal 2023, led by more than 10,000 Outlander PHEVs, and 10,000 Outlander gas vehicles. The award-winning Outlander PHEV continues to be Canada’s best-selling PHEV SUV.

In order to support that record-breaking growth and build capacity for the future, MMSCAN took important steps in 2023 such as adding the Port of Nanaimo as a second import hub, significantly expanding its Parts Distribution Centre and adding human resources across Canada to support its dealers and customers.

Looking ahead to the future of the brand in Canada, the path to Mitsubishi Motors Momentum 2030 is defined by four key points:

• A path to electrification
• A path to a renewed and expanded product lineup that will strengthen Mitsubishi Motors in Canada
• A path to a modernized retail sales model
• A path to a strengthened partnership with the dealer network and sales growth

In revealing Momentum 2030 to the company’s dealer partners, Harada discussed how MMSCAN will continue its move toward vehicle electrification between now and fiscal 2030 with a vehicle lineup powered by a selection of advanced-technology internal combustion engines, hybrids, plug-in hybrids and battery electrics.

Additionally, MMSCAN shared with dealers product highlights that will define the company’s showroom lineup going forward. Two all-new vehicles to debut into segments in which the company does not currently compete, as well as a new or completely refreshed vehicle to debut each year between fiscal 2026 and fiscal 2030. By 2030, Mitsubishi Motors’ vehicle lineup in Canada will be expanded significantly.