ASEAN KEY DESTINATIONS
After record 60% in 2015 IPC sees slower 9% growth in 2016
After posting a record 60 percent sales growth in 2015, all-truck assembler Isuzu Philippines Corp. (IPC) sees its sales growing a modest 9 percent this election year.
IPC President Hajime Koso said its 9 percent growth target for this year is based on the overall industry growth target of at least 15 percent to 350,000-370,000 unit sales over the 324,000 actual sales in 2015.
“The country is still experiencing a stellar economic growth, we are eyeing better sales from our line-up as the year progresses. Based on the industry target we are expecting a modest growth of about 9-percent this year but it can be higher,” he added.
At 9 percent growth forecast, this means IPC’s sales this year could reach 23,980 units as against 22,000 units sold in 2015.
Despite the lower growth forecast, IPC was off to a good start in the first month this year with sales zoomed 62 percent over the same month last year.
Based on the data from the Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Trucks Manufacturers Association (TMA), IPC has sold 1,984 units in January alone, which reflected a 62-percent increase compared to the same month in 2015.
Leading the rally in sales is its flagship SUV model, the Isuzu mu-X which recorded a total of 1,024 units which is 83-percent higher than the 559 units sold in January last year. The very popular Isuzu mu-X is continuously gaining market share and even made it as a top SUV in its segment last December.
Showing steady growth is the ever- reliable Isuzu Crosswind selling 342 units or a 33-percent increase from the 257 units sold in the same period in 2015, followed by the Isuzu D-MAX which sold a total of 285 units in January recording a 16-percent increase compared to last year.
Isuzu Trucks & Buses have also drastically contributed in the robust figures for the month of January as 333 units were delivered as compared to the 166 units sold in January the previous year, reflecting a 100-percent growth.
Koso attributed the sturdy sales especially for trucks due to the upcoming election. “Business has always been lucrative during the election season, aside from the usual business that we have. We can expect these figures to grow come campaign period arrives,” said Koso.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below