Isuzu targets 15% hike in truck sales

MANILA, Philippines - The local unit of Japan’s Isuzu Motors Ltd, aims for a 15 percent increase in total truck sales this year as it introduces two new models and hopes to take advantage of the country’s improving economic conditions.

 â€œWe are targeting (to sell) 3,000 units of trucks this year,” Isuzu Philippines Corp. (IPC) president Nobuo Izumina told reporters on the sidelines of the Isuzu Truck Fest held yesterday.

Last year, the firm sold a total of 2,600 trucks.

Joseph Bautista, sales division head at IPC, the firm hopes to achieve higher truck sales following the launch of two new models this year.

The two new products which belong to Category 5 or the heavy-duty truck category are the CYZ dump truck targeted for local government units, mining as well as construction companies, and the EXR tanker meant for oil companies.

The CYZ retails for P5.6 million, while the EXR tractor head including the tanker is priced at P7.5 million.

Both models would be imported from Japan.

 â€œWe are aiming to achieve 50 to 60-percent market share in the heavy-duty truck category by next year,” Bautista said, pointing out that the firm currently holds 20 percent of that segment.

Achieving a 50-to 60-percent share in the heavy-duty segment would be in line with the firm’s current 60 percent share in the light and medium-duty segment.

Bautista said the firm is optimistic truck sales would increase as a number of infrastructure projects are being undertaken in the country.

Amid the country’s growing economy, IPC executive vice president Takashi Tomita said the firm also hopes to benefit in terms of higher truck sales as more companies opt to invest in vehicles they could use for their operations.

 â€œThe economy is growing rapidly so customers can afford to buy brand new trucks,” he said.