Sunday, March 6, 2016
Foton Philippines Growth on Course for 2020 Target
China’s largest commercial vehicle manufacturer, continues to assume an upward trajectory in the Philippines – capitalizing on the country’s increasingly robust economy to achieve its goal of breaching 20,000 in sales by 2020. Last year, Foton Philippines sold 25 percent more vehicles, moving nearly 4,000 units.
Fueling growth was the strong market acceptance of the Foton View Traveller and View TransVan products – helped along by the Land Transportation Franchising and Regulatory Board’s timely policy to phase-out aging UV Express and school service units. Additionally, strong institutional demand for light-duty trucks such as the Euro IV-compliant Foton Tornado boosted sales figures. As the brand continued to establish a presence and cultivate a positive reputation in the market, banks and other financial institution took notice and extended accreditation. “This is a key development, because most of our buyers seek access to financial instruments for purchasing or leasing purposes,” said Foton Philippines president Rommel Sytin. “With the support of banks, we are able to extend better deals to our clients and make the acquisition process much easier.”
While widening its portfolio of offerings, Foton Philippines is also making sure that more people have easy access to it. As of the end of 2015, the automaker had 18 dealerships scattered across the country: Isabela; Sta. Rosa, Nueva Ecija; Pampanga; Subic, Balintawak; Calamba, Laguna; Cavite; San Pablo, Laguna; Lipa, Batangas; Palawan; Cebu; Tacloban; Iloilo; Bacolod; Cagayan de Oro City; Davao; General Santos City; and Zamboanga City. Aside from these, FOTON has a total of 44 accredited centers to administer official and qualified service in areas without dealerships.
And the company is not done yet. Foton Philippines executive vice president Anna Maria Parado revealed that plans are afoot to open six new dealerships this year alone. “More than just growing our footprint in the country, this move shows that Foton is here for the long term. We remain confident in the continued vibrancy not just of the local automobile sector, but the country’s economy in general.”