Mitsubishi shares up 84% this year thanks to strong demand in ASEAN

Mitsubishi Motors’ share price has risen 84% this year, outperforming all automotive companies in Southeast Asia. This is due to the increasing demand for smaller cars and pickups in Southeast Asia.

While Japanese auto exporters benefited from the weakening of the yen to its lowest level in 24 years, Mitsubishi Motors also benefited from product components suitable for emerging markets.

The 10 strongest Asian auto stocks in the first half of this year came from Japan. The main factor was the weakening of the yen.

Mitsubishi Motors shares more than doubled and was the number one. Mazda Motor and Subaru Corp shares rose by more than 20%, while Toyota Motor shares fell.

Tatsuo Yoshida, senior analyst at Bloomberg Intelligence, said Mitsubishi Motors’ main markets are Thailand, Indonesia, Vietnam and the Philippines. This exposes Mitsubishi to less risk of a U.S. economic slowdown than other automakers such as Toyota, Honda, Nissan, Subaru and Mazda.

Mitsubishi shares rose 2.9% today, reaching the highest level since May 2019, and the uptrend has now lasted for the eighth day in a row and is the longest since 2014.

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