Monday, October 28, 2013
Isuzu Philippines Posts Strong September on Strength of New D-Max
The introduction of the All-New Isuzu D-MAX pickup on September 18, 2013, has powered Isuzu Philippines Corporation’s (IPC) performance for the same month, allowing the company to outpace the local commercial vehicle segment’s total growth.
Combined reports released by the Chamber of Automotive Manufacturers of the Philippines, Inc. and the Truck Manufacturers Association show that the D-MAX’s sales in September has more than doubled from its tally in August, or 179 units compared to the previous month’s 84-unit total—a rise of 113.1%. The D-MAX’s market share also rose to 11.2% in September from 6.3% in August.
The All-New D-MAX’s growth in September comes side-by-side with the local pickup segment’s month-on-month rise of 19.7%. Continuing on an upward trend in popularity, pickup trucks found 1,332 buyers in August, accounting for a 9.7% share of the domestic auto industry, while in September the total grew to 1,594 units, or a 10.8% share. The Philippines’ commercial vehicle segment, which includes pickup trucks, climbed 12.3% in September.
In contrast, IPC’s tally of light commercial vehicles, bolstered by the All-New D-MAX, saw a 12.9% increase in September over August. This contributed to IPC’s 15.9% spike in total vehicle sales in the same period.
“The favorable market reception of the All-New Isuzu D-MAX can only lead to a positive outlook for Isuzu Philippines Corporation’s overall performance for the rest of the year, keeping us on track of reaching our sales target of 13,000 units,” said IPC President Nobuo Izumina.
He elaborated that IPC’s optimism is also based on an Asian Development Bank report issued earlier this year which found that “booming investment and consumption continue to underpin an economic renaissance in the Philippines.”
“The Philippine economy accelerated 7.6% in the first half of 2013, thanks to investments and expansion in several sectors, which will likely drive continued economic activity for the next months. This should translate to stronger consumer confidence in the automotive sector,” Izumina said.
Scheduled to be built in the next few months at IPC’s world-class manufacturing plant at the Laguna Technopark in Biñan, the All-New D-MAX is the latest generation of Isuzu’s pickup nameplate that first arrived in the country in 2003. IPC intends to secure at least 20% of the local pickup market in a full year.