Isuzu reports 20% sales growth

MANILA, Philippines - Isuzu Philippines Corp. (IPC) reported a 20-percent rise in sales in the January to October period amid robust performance posted by its models.

In a statement yesterday, IPC said it sold 9,595 vehicles from January to October, cornering 11 percent of the country’s commercial vehicle market, and higher than the 7,968 vehicles sold in the same period  in 2011.

Contributing to the company’s sales performance as of end-October are the Crosswind with 4,936 units sold, the D-MAX pickup with 2,297 units sold as well as the Alterra with 688 units sold.

Also supporting the company’s sales performance were its truck models.

Isuzu’s N-Series light-duty trucks, which have led its category for 13 consecutive years, sold 1,372 units in the 10-month period.

“The upturn of Isuzu Philippines’ sales in the first 10 months of 2012 is a clear indicator of the brand’s performance for the entire year,”IPC president Ryoji Yamazaki said.

He added that the firm is optimistic that its sales would continue to grow in the remaining months of the year given the seasonal consumption spending.

“In the final two months, we expect the company’s performance to even improve as sales will likely be boosted by increased consumer spending during the coming holiday season and by remittances from overseas Filipino workers, as well as several economic factors that would spur market confidence,” he said.

IPC said it has earned the trust of Filipino consumers through the years given its vehicles’ diesel technology, reliability, durability, fuel efficiency and environment-friendliness.

IPC aims to sell 13,000 vehicles this year, 20 percent higher than last year.

This year’s sales target is the highest set by IPC so far with record sales of 12,000 units seen in 2003.

Earlier, IPC said it intends to expand its operations here by increasing production of vehicles but noted that it will depend on local demand.

IPC’s current plant capacity which is good for 15,000 units per year, is not fully utilized with production levels ranging between 10,000 to 12,000 units.

The bulk or 90 percent of IPC’s products are assembled in the Philippines, except for the Alterra.