Mitsubishi Motors to sell vehicles in S. Korea from September

SEOUL, Jul 04, 2008 (Asia Pulse Data Source via COMTEX) -- MMTOF | Quote | Chart | News | PowerRating -- Japan's Mitsubishi Motors Corp. said Thursday it will sell vehicles in South Korea from late September in a bid to tap the nation's fast-growing market for imported cars.

"Mitsubishi Motors aims to become a leading foreign brand in South Korea's market for imported vehicles," said Choi Jong-yeol, chief executive of Mitsubishi Motors Sales Korea, a joint venture between Mitsubishi Motors and South Korea's Daewoo Motor Sales Corp.

Mitsubishi Motors is a latecomer to South Korea's market for imported autos. Toyota Motor Corp. and Nissan Motor already sell mid-range cars in the country.

Mitsubishi Motors will sell its Outlander sport utility vehicle, Eclipse sports car, Lancer Evolution sedan and two other models, Choi said.

South Korea's imported vehicle sales are likely to rise 20 percent this year to more than 60,000 units, according to the Korea Automobile Importers & Distributors Association.

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