Isuzu jacks up sales target this year

MANILA, Philippines - Isuzu Philippines Corp. (IPC) is jacking up its sales target this year on continued robust demand across all models but expects growth to slow down next year on tougher competition.

In an interview, IPC marketing head Joseph Bautista said the company is revising its original sales target of 18,000 units for 2015 to 22,800 units after sales surged 67 percent in 10 months to October.

Bautista said IPC expects to sell some 11,000 mu-X sports utility vehicle (SUV), between 4,000 to 5,000 units of trucks, 4,000 Crosswind units, and 3,500 D-Max pick-up truck units by the end of the year.

“We are surprised with how big the truck market is. But next year will be challenging. There are many factors, including new competitors in the SUV segment. The market is also starting to shift. There are growth areas which we do not have any presence like vans,” he said.

Bautista said one of five Filipinos at present is buying SUV and compact cars are also a fast-growing segment.

As a result of a tighter competition, Bautista said IPC sees sales growing by single digit next year.

“We see only a slight growth for next year. But that’s okay considering that we are seeing a huge jump in sales this year,” he said.

Bautista said Isuzu mu-X and trucks would continue to be the main growth drivers of IPC next year.

IPC in October reached the 200,000-sales milestone since starting operations in 1996.