For many Filipinos, owning a brand-new car is more than just a purchase. It is a milestone. But for others, this goal often takes a back seat, mainly due to financial constraints. Recognizing this challenge, Mitsubishi Motors Philippines Corporation (MMPC) has teamed up with Security Bank to form a new company dedicated to making auto financing more accessible.
In a recent ceremonial launch, Mitsubishi Motors Finance Philippines, Inc. (MMFP) officially took the spotlight. A joint venture between MMPC and Security Bank, MMFP offers financing solutions specifically for brand-new Mitsubishi buyers. The program began its soft launch in April this year in five dealerships and has now expanded to all 67 Mitsubishi dealerships nationwide.
The MMFP aims to simplify the car loan process and provide flexible, customer-focused financing options, catering to the many Filipinos who depend on credit to acquire a new vehicle. By combining Mitsubishi’s strong foothold in the local automotive scene with Security Bank’s established reputation in finance, MMFP hopes to boost car ownership while supporting broader financial inclusion.
This move is part of Mitsubishi’s mid-term business plan, “Challenge 2025.” The Japanese automaker considers ASEAN a key market, with the Philippines playing a crucial role and holding a 19.5 percent market share. In 2023, MMPC sold 91,639 brand-new units, which was a 12 percent increase from the previous year’s performance.
At the helm of MMFP is Satoshi Nakano, who serves as President and CEO. The company now operates from its main office in Makati City.
“As a joint venture between Mitsubishi Motors and Security Bank, MMFP brings together market leadership and financial expertise to offer accessible, reliable financing. Our shared vision is to enrich Filipino lives by making car ownership more attainable and supporting Mitsubishi Motors’ continued growth in the country,” Nakano said.
