Mitsubishi Motors (Thailand) has confirmed its eco-car investment plan while urging the government to cut excise taxes on passenger cars to ensure the project's success.

MMT president Nobuyuki Murahashi said yesterday the excise taxes are too high, at 25-35 per cent on 2,000cc passenger cars. If they are dropped to 20 per cent, the same rate applied to pickup passenger vehicles, passenger car prices should come down and create demand among middle-income earners.

More supportive measures are necessary if the government wants to turn passenger cars into a new product champion, he said.

As the company's new chairman, Murahashi said his mission is to increase MMT's market share from 3.6 per cent last year. MMT plans to sell 23,000 units this year, up from 19,000 last year, to boost its share to 4 per cent, thanks to the launch of the new Mitsubishi Lancer last quarter.

It plans to export 116,000 units, down 50,000 units from last year.

Mitsubishi yesterday launched the latest Triton pickups.