A report by Bloomberg highlighted that Mitsubishi Motors’ shares have seen a rise by 84 percent this year, higher than all Asian carmakers.

The report said that Mitsubishi is less vulnerable to the US economy’s slowdown, being cushioned by the demand for small cars and pick-ups in ASEAN. Core markets for Mitsubishi include Thailand, Indonesia, Vietnam and the Philippines.

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Half of this year’s best-performing auto stocks from Asia were attributed to weak Japanese Yen, but Mitsubishi’s gains are more than double of its closest Japanese compatriot, with Mazda’s shares rising by 36 percent and Subaru by 24 percent.

A quarter of Mitsubishi Motors’ revenue comes from the ASEAN region, as car buyers there are attracted by prices that reflect the Yen’s weakest in more than two decades.

Also read: Sales of Mitsubishi Triton up 24% for FY 2021, over 60% first-time owners, mostly ex-sedan owners

Closer to home, Mitsubishi Motors Malaysia recorded an increase of 24 percent in Triton sales for Financial Year 2021 (April 2021 to March 2022), with more than 60 percent of Triton customers are first-time Mitsubishi owners.

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