TORONTO – Building on its extraordinary momentum and record US sales, Mitsubishi Motor Sales of America, Inc. (MMSA), today announced its plans to enter the Canadian market through Mitsubishi Motor Sales of Canada. Through this subsidiary, Mitsubishi will now be able to offer Canadians a full line of stylish passenger cars and sport-utility vehicles that encourage Canadian consumers to "Wake Up and Drive(TM)."
"Canadians purchase approximately 1.5 million new vehicles a year, making this one of the world's top 10 automotive markets and a natural choice for Mitsubishi Motors' global expansion," said Pierre Gagnon, executive vice president and chief operating officer, Mitsubishi Motor Sales of America, Inc. "We are excited to offer Canadians our full line of vehicles and look forward to growing across this great country."
Mitsubishi Motors anticipates it will begin selling cars in Canada early in 2003, with a goal of opening 51 dealerships in the first year, growing to 150 dealerships within five years. At that level, the dealer network would result in the creation of approximately 6,400 new jobs.
The company projects sales in Canada of 38,000 new vehicles annually by the end of 2007, giving Mitsubishi an estimated two-percent share of the Canadian new vehicle market. Canada is the only major global automotive market in which Mitsubishi Motors does not currently sell vehicles.