MANILA, Philippines - Isuzu Philippines expects a 19.4 percent increase in sales this year after experiencing a decline in sales last year.
In an interview Monday night, Isuzu senior vice president Arthur Balmadrid said that their yearend sales will hit 11,000 this year after selling 9,213 units a year ago. Balmadrid said they will overshoot the 10,000 target they set during the beginning of the year.
For next year, Balmadrid said they expect to grow by five percent. He said this is consistent with the target set by the Chamber of Automotive Manufacturers of the Philippines Inc. (CAMPI). He said CAMPI is looking at growing by four percent to five percent next year.
Balmadrid noted that for the industry, the growth drivers for this year are compact SUVs and passenger cars.
For next year, he said that they will be introducing micro van or the Isuzu van. This was supposed to be launched this month but the company decided to delay the launch following some minor revisions in the car’s specifications.
He said they will lower the vehicle and even renamed it micro van from micro bus. He said the changes were strategic in order to prevent problems in registration and toll. A bus has a higher fee than a van.
Balmadrid said the micro van will be launched next year and will cost P1.3 million. This is lower than the original price of up to P1.5 million. The micro van can seat 16 people comfortably. He said the micro van is a cross between a van and a bus.
Earlier, Isuzu announced they will be cutting costs in order to export locally produced Crosswind in Central America.
Former Isuzu president Keiji Takeda said that the price requirement of Central America does not match the cost of production and logistics costs. “We are continuing our effort to minimize the gap.”
Takeda said that the discrepancy between the cost and sales price is between $1,000 and $1,500 per unit. Takeda said they cannot export in other ASEAN countries because majority of this countries are right hand drives while the Philippines is a left hand drive country.